Krilogy Financial LLC lifted its stake in Blackstone Inc. (NYSE:BX – Free Report) by 27.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 31,662 shares of the asset manager’s stock after purchasing an additional 6,792 shares during the quarter. Krilogy Financial LLC’s holdings in Blackstone were worth $3,641,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Kennebec Savings Bank increased its position in Blackstone by 42.2% during the first quarter. Kennebec Savings Bank now owns 7,271 shares of the asset manager’s stock valued at $836,000 after acquiring an additional 2,158 shares during the last quarter. Prentice Wealth Management LLC boosted its stake in shares of Blackstone by 1.3% during the 1st quarter. Prentice Wealth Management LLC now owns 6,256 shares of the asset manager’s stock worth $719,000 after purchasing an additional 80 shares during the period. Sovereign Financial Group Inc. grew its holdings in Blackstone by 2.3% during the 1st quarter. Sovereign Financial Group Inc. now owns 3,943 shares of the asset manager’s stock valued at $453,000 after purchasing an additional 88 shares during the last quarter. LMG Wealth Partners LLC lifted its stake in Blackstone by 9.3% in the first quarter. LMG Wealth Partners LLC now owns 11,162 shares of the asset manager’s stock worth $1,284,000 after purchasing an additional 946 shares during the last quarter. Finally, PMG Family Office LLC boosted its position in shares of Blackstone by 14.8% during the first quarter. PMG Family Office LLC now owns 3,879 shares of the asset manager’s stock valued at $446,000 after buying an additional 499 shares during the period. 70.00% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several equities research analysts have recently weighed in on the company. Weiss Ratings downgraded Blackstone from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 4th. Rothschild & Co Redburn cut their price objective on Blackstone from $134.00 to $130.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 9th. Morgan Stanley decreased their target price on Blackstone from $215.00 to $184.00 and set an “overweight” rating for the company in a research report on Tuesday, April 21st. Dbs Bank upgraded shares of Blackstone to a “moderate buy” rating in a report on Wednesday, May 27th. Finally, Citizens Jmp decreased their price objective on shares of Blackstone from $195.00 to $190.00 and set a “market outperform” rating for the company in a report on Wednesday, April 22nd. Thirteen equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Blackstone currently has an average rating of “Moderate Buy” and an average price target of $150.86.
Insider Buying and Selling at Blackstone
In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,500 shares of Blackstone stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $3.78, for a total transaction of $28,264,950.00. Following the transaction, the insider directly owned 19,374 shares of the company’s stock, valued at $73,233.72. This trade represents a 99.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Vikrant Sawhney sold 30,014 shares of the company’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $125.79, for a total value of $3,775,461.06. Following the sale, the insider owned 899,669 shares of the company’s stock, valued at approximately $113,169,363.51. This represents a 3.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have bought a total of 9,487,234 shares of company stock valued at $189,789,892 in the last ninety days. Company insiders own 1.00% of the company’s stock.
Blackstone Price Performance
Shares of BX stock opened at $120.12 on Wednesday. Blackstone Inc. has a twelve month low of $101.73 and a twelve month high of $190.09. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.66. The stock has a fifty day simple moving average of $121.33 and a two-hundred day simple moving average of $129.86. The stock has a market capitalization of $89.23 billion, a price-to-earnings ratio of 30.72, a P/E/G ratio of 1.34 and a beta of 1.59.
Blackstone (NYSE:BX – Get Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The asset manager reported $1.36 EPS for the quarter, beating the consensus estimate of $1.34 by $0.02. Blackstone had a return on equity of 22.86% and a net margin of 20.67%.The firm 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 posted $1.11 earnings per share. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. On average, analysts predict that Blackstone Inc. will post 5.9 EPS for the current fiscal year.
Blackstone Cuts Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, May 11th. Stockholders of record on Monday, May 4th were given a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend was Monday, May 4th. Blackstone’s dividend payout ratio is presently 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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