MASTERINVEST Kapitalanlage GmbH cut its holdings in Blackstone Inc. (NYSE:BX – Free Report) by 59.4% in the 1st quarter, HoldingsChannel reports. The fund owned 2,781 shares of the asset manager’s stock after selling 4,075 shares during the period. MASTERINVEST Kapitalanlage GmbH’s holdings in Blackstone were worth $320,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. increased its stake in Blackstone by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 71,667,695 shares of the asset manager’s stock valued at $11,046,859,000 after purchasing an additional 840,258 shares during the last quarter. Morgan Stanley grew its holdings in Blackstone by 2.0% in the 4th quarter. Morgan Stanley now owns 32,862,165 shares of the asset manager’s stock valued at $5,065,374,000 after buying an additional 636,613 shares during the period. State Street Corp increased its stake in shares of Blackstone by 0.6% during the 4th quarter. State Street Corp now owns 31,542,009 shares of the asset manager’s stock valued at $4,861,885,000 after acquiring an additional 179,213 shares during the last quarter. Norges Bank acquired a new stake in shares of Blackstone in the fourth quarter worth approximately $1,275,747,000. Finally, Northern Trust Corp grew its holdings in Blackstone by 4.7% in the third quarter. Northern Trust Corp now owns 7,324,989 shares of the asset manager’s stock valued at $1,251,474,000 after purchasing an additional 329,379 shares during the period. Hedge funds and other institutional investors own 70.00% of the company’s stock.
Blackstone Stock Up 2.0%
Shares of NYSE BX opened at $127.03 on Thursday. The stock’s 50-day simple moving average is $119.73 and its 200-day simple moving average is $126.08. Blackstone Inc. has a 1 year low of $101.73 and a 1 year high of $190.09. The firm has a market cap of $94.37 billion, a price-to-earnings ratio of 32.49, a PEG ratio of 1.34 and a beta of 1.58. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.76 and a current ratio of 0.76.
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 issued a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend was Monday, May 4th. Blackstone’s payout ratio is currently 118.67%.
Insider Activity at Blackstone
In other 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 stock was sold at an average price of $3.78, for a total value of $28,264,950.00. Following the completion of the transaction, the insider owned 19,374 shares in the company, valued at approximately $73,233.72. This trade represents a 99.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Private Multi-Asset Blackstone purchased 765,111 shares of the company’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were purchased at an average cost of $26.14 per share, for a total transaction of $20,000,001.54. Following the completion of the transaction, the insider owned 7,882,145 shares in the company, valued at approximately $206,039,270.30. This represents a 10.75% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased a total of 10,252,345 shares of company stock worth $209,789,893 over the last quarter. 1.00% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on the stock. Sanford C. Bernstein initiated coverage on shares of Blackstone in a research note on Monday, June 8th. They set an “outperform” rating on the stock. Morgan Stanley dropped their price objective on Blackstone from $215.00 to $184.00 and set an “overweight” rating for the company in a report on Tuesday, April 21st. Deutsche Bank Aktiengesellschaft assumed coverage on Blackstone in a report on Monday, June 8th. They issued a “buy” rating on the stock. Piper Sandler upped their price target on Blackstone from $122.00 to $130.00 and gave the stock a “neutral” rating in a research note on Monday, April 27th. Finally, Jefferies Financial Group lifted their price objective on Blackstone from $143.00 to $152.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Thirteen investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $146.52.
Read Our Latest Research Report on BX
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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