MidFirst Bank acquired a new stake in shares of Blackstone Inc. (NYSE:BX – Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 9,943 shares of the asset manager’s stock, valued at approximately $1,533,000.
A number of other hedge funds have also made changes to their positions in the company. Brighton Jones LLC raised its stake in shares of Blackstone by 34.6% in the fourth quarter. Brighton Jones LLC now owns 7,917 shares of the asset manager’s stock valued at $1,365,000 after acquiring an additional 2,035 shares during the last quarter. Sivia Capital Partners LLC raised its position in Blackstone by 9.3% in the 2nd quarter. Sivia Capital Partners LLC now owns 2,076 shares of the asset manager’s stock valued at $310,000 after purchasing an additional 177 shares during the last quarter. United Bank boosted its stake in Blackstone by 14.7% in the second quarter. United Bank now owns 13,528 shares of the asset manager’s stock worth $2,024,000 after purchasing an additional 1,729 shares in the last quarter. Nebula Research & Development LLC bought a new stake in shares of Blackstone during the second quarter worth $1,124,000. Finally, Sei Investments Co. raised its holdings in shares of Blackstone by 1.9% in the second quarter. Sei Investments Co. now owns 452,619 shares of the asset manager’s stock valued at $67,703,000 after buying an additional 8,655 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.
Analyst Upgrades and Downgrades
Several research firms have weighed in on BX. HSBC lowered their price objective on shares of Blackstone from $164.00 to $131.00 and set a “hold” rating for the company in a research report on Friday, April 10th. Oppenheimer raised their price target on shares of Blackstone from $154.00 to $156.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Zacks Research raised Blackstone from a “strong sell” rating to a “hold” rating in a report on Monday, June 8th. JPMorgan Chase & Co. dropped their target price on Blackstone from $142.00 to $136.00 and set a “neutral” rating for the company in a research report on Friday, April 24th. Finally, Jefferies Financial Group raised their price target on Blackstone from $143.00 to $152.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Thirteen investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $150.86.
Insiders Place Their Bets
In other Blackstone news, insider Vikrant Sawhney sold 30,014 shares of Blackstone stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $125.79, for a total transaction of $3,775,461.06. Following the transaction, the insider directly owned 899,669 shares in the company, valued at approximately $113,169,363.51. The trade was a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ruth Porat purchased 355 shares of the stock in a transaction on Monday, May 11th. The stock was acquired at an average price of $123.04 per share, with a total value of $43,679.20. Following the completion of the acquisition, the director directly owned 41,818 shares of the company’s stock, valued at approximately $5,145,286.72. This represents a 0.86% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have bought 9,487,234 shares of company stock valued at $189,789,892. Insiders own 1.00% of the company’s stock.
Blackstone Price Performance
Blackstone stock opened at $123.78 on Friday. The firm has a market capitalization of $91.95 billion, a P/E ratio of 31.66, a PEG ratio of 1.34 and a beta of 1.59. The business has a 50-day moving average of $121.11 and a 200-day moving average of $130.35. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.66. Blackstone Inc. has a 1 year low of $101.73 and a 1 year high of $190.09.
Blackstone (NYSE:BX – Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The asset manager reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.02. Blackstone had a net margin of 20.67% and a return on equity of 22.86%. The business had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.45 billion. During the same quarter last year, the firm earned $1.11 EPS. Blackstone’s quarterly revenue was up 10.0% compared to the same quarter last year. On average, equities analysts anticipate that Blackstone Inc. will post 5.9 EPS for the current year.
Blackstone Cuts Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, May 11th. Investors of record on Monday, May 4th were given a $1.16 dividend. The ex-dividend date was Monday, May 4th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 3.7%. Blackstone’s dividend payout ratio is currently 118.67%.
Blackstone Company Profile
Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.
Blackstone’s business is organized around several principal investment platforms.
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