Janney Montgomery Scott LLC grew its position in shares of Blackstone Inc. (NYSE:BX – Free Report) by 14.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 760,325 shares of the asset manager’s stock after buying an additional 98,677 shares during the quarter. Janney Montgomery Scott LLC owned approximately 0.10% of Blackstone worth $87,430,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also bought and sold shares of BX. Jain Global LLC bought a new position in shares of Blackstone in the third quarter worth about $9,116,000. Fayez Sarofim & Co increased its holdings in shares of Blackstone by 1.9% in the third quarter. Fayez Sarofim & Co now owns 1,270,608 shares of the asset manager’s stock valued at $217,083,000 after purchasing an additional 24,237 shares in the last quarter. Natixis Advisors LLC lifted its holdings in Blackstone by 20.4% during the 3rd quarter. Natixis Advisors LLC now owns 840,401 shares of the asset manager’s stock worth $143,582,000 after buying an additional 142,479 shares in the last quarter. Mackenzie Financial Corp increased its stake in shares of Blackstone by 2.1% in the 3rd quarter. Mackenzie Financial Corp now owns 904,237 shares of the asset manager’s stock valued at $154,489,000 after buying an additional 18,339 shares during the period. Finally, Bedell Frazier Investment Counselling LLC lifted its stake in shares of Blackstone by 1,130.2% during the third quarter. Bedell Frazier Investment Counselling LLC now owns 18,822 shares of the asset manager’s stock valued at $3,216,000 after acquiring an additional 17,292 shares during the period. 70.00% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of brokerages recently commented on BX. Deutsche Bank Aktiengesellschaft began coverage on Blackstone in a research report on Monday, June 8th. They issued a “buy” rating for the company. Barclays reduced their target price on shares of Blackstone from $126.00 to $124.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 8th. Royal Bank Of Canada started coverage on shares of Blackstone in a research note on Monday, June 8th. They set an “outperform” rating for the company. Citizens Jmp reduced their price objective on shares of Blackstone from $195.00 to $190.00 and set a “market outperform” rating on the stock in a research note on Wednesday, April 22nd. Finally, JPMorgan Chase & Co. dropped their target price on shares of Blackstone from $142.00 to $136.00 and set a “neutral” rating for the company in a research report on Friday, April 24th. Thirteen research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $150.86.
Blackstone Price Performance
Shares of BX stock opened at $115.66 on Friday. The firm has a market capitalization of $85.92 billion, a price-to-earnings ratio of 29.58, a price-to-earnings-growth ratio of 1.25 and a beta of 1.59. Blackstone Inc. has a 12-month low of $101.73 and a 12-month high of $190.09. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.66. The firm has a fifty day moving average of $120.62 and a 200-day moving average of $129.22.
Blackstone (NYSE:BX – Get Free Report) last posted its earnings results 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. The firm had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.45 billion. Blackstone had a return on equity of 22.86% and a net margin of 20.67%.The company’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.11 earnings per share. On average, equities research analysts forecast that Blackstone Inc. will post 5.9 earnings per share for the current year.
Blackstone Cuts Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, May 11th. Shareholders of record on Monday, May 4th were issued a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 4.0%. The ex-dividend date was Monday, May 4th. Blackstone’s dividend payout ratio (DPR) is 118.67%.
Insider Buying and Selling
In related news, major shareholder Treasury Holdings I. Blackstone bought 9,486,795 shares of Blackstone stock in a transaction that occurred on Friday, May 15th. The stock was purchased at an average cost of $20.00 per share, with a total value of $189,735,900.00. Following the purchase, the insider owned 9,111,800 shares in the company, valued at approximately $182,236,000. This trade represents a -2,529.85% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Vikrant Sawhney sold 30,014 shares of Blackstone stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $125.79, for a total value of $3,775,461.06. Following the completion of the sale, the insider directly owned 899,669 shares in the company, valued at $113,169,363.51. This represents a 3.23% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have acquired 10,252,345 shares of company stock valued at $209,789,893. 1.00% of the stock is owned by corporate insiders.
Blackstone 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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