Oxbow Advisors LLC lowered its stake in shares of Blackstone Inc. (NYSE:BX – Free Report) by 29.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,061 shares of the asset manager’s stock after selling 6,956 shares during the quarter. Oxbow Advisors LLC’s holdings in Blackstone were worth $1,962,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Family CFO Inc acquired a new position in Blackstone during the fourth quarter worth approximately $28,000. Ares Financial Consulting LLC purchased a new stake in shares of Blackstone during the 4th quarter valued at $28,000. Richardson Financial Services Inc. acquired a new stake in shares of Blackstone during the 4th quarter worth $29,000. Strive Asset Management LLC acquired a new position in Blackstone in the third quarter valued at $30,000. Finally, Palladiem LLC purchased a new stake in Blackstone during the fourth quarter valued at about $31,000. 70.00% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at Blackstone
In other news, Director Ruth Porat acquired 355 shares of the business’s stock in a transaction on Monday, May 11th. The shares were purchased at an average price of $123.04 per share, for a total transaction of $43,679.20. Following the acquisition, the director directly owned 41,818 shares of the company’s stock, valued at $5,145,286.72. This represents a 0.86% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Treasury Holdings I. Blackstone bought 9,486,795 shares of the stock in a transaction dated Friday, May 15th. The shares were acquired at an average price of $20.00 per share, with a total value of $189,735,900.00. Following the completion of the purchase, the insider directly owned 9,111,800 shares of the company’s stock, valued at approximately $182,236,000. This represents a -2,529.85% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 10,252,345 shares of company stock worth $209,789,893 over the last three months. Insiders own 1.00% of the company’s stock.
Blackstone Stock Performance
Blackstone (NYSE:BX – Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The asset manager reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.02. The firm had revenue of $3.43 billion during the quarter, compared to analysts’ expectations of $3.45 billion. Blackstone had a return on equity of 22.86% and a net margin of 20.67%.Blackstone’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.11 EPS. On average, sell-side analysts forecast that Blackstone Inc. will post 5.9 earnings per share for the current fiscal year.
Blackstone Cuts Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, May 11th. Investors of record on Monday, May 4th were issued a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend was Monday, May 4th. Blackstone’s dividend payout ratio (DPR) is presently 118.67%.
Analyst Upgrades and Downgrades
A number of equities analysts have recently commented on BX shares. Zacks Research upgraded Blackstone from a “strong sell” rating to a “hold” rating in a report on Monday, June 8th. BNP Paribas Exane dropped their target price on shares of Blackstone from $126.00 to $125.00 and set a “neutral” rating for the company in a research report on Tuesday. Barclays cut their price target on shares of Blackstone from $126.00 to $124.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 8th. Weiss Ratings downgraded shares of Blackstone from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 4th. Finally, BMO Capital Markets raised their target price on shares of Blackstone from $126.00 to $132.00 and gave the company an “outperform” rating in a research note on Monday, April 13th. Thirteen investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $149.36.
View Our Latest Stock Analysis on BX
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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