Danica Pension Livsforsikringsaktieselskab purchased a new stake in Blackstone Inc. (NYSE:BX – Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 86,004 shares of the asset manager’s stock, valued at approximately $9,890,000.
A number of other large investors have also recently made changes to their positions in BX. Redwood Financial Network Corp raised its holdings in shares of Blackstone by 1.8% in the 2nd quarter. Redwood Financial Network Corp now owns 3,588 shares of the asset manager’s stock valued at $537,000 after purchasing an additional 65 shares in the last quarter. Benchmark Financial Wealth Advisors LLC lifted its holdings in Blackstone by 0.9% during the 4th quarter. Benchmark Financial Wealth Advisors LLC now owns 7,748 shares of the asset manager’s stock worth $1,194,000 after buying an additional 69 shares during the last quarter. Parcion Private Wealth LLC raised its position in shares of Blackstone by 0.6% during the 4th quarter. Parcion Private Wealth LLC now owns 10,935 shares of the asset manager’s stock worth $1,686,000 after acquiring an additional 70 shares in the last quarter. Trivium Point Advisory LLC lifted its stake in Blackstone by 2.6% during the fourth quarter. Trivium Point Advisory LLC now owns 2,713 shares of the asset manager’s stock worth $418,000 after purchasing an additional 70 shares during the last quarter. Finally, Zacks Investment Management increased its stake in Blackstone by 2.1% in the third quarter. Zacks Investment Management now owns 3,453 shares of the asset manager’s stock valued at $590,000 after purchasing an additional 71 shares during the last quarter. 70.00% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling at Blackstone
In related news, major shareholder Private Multi-Asset Blackstone bought 765,111 shares of the firm’s stock in a transaction on Tuesday, June 23rd. The shares were bought at an average cost of $26.14 per share, for a total transaction of $20,000,001.54. Following the transaction, the insider owned 7,882,145 shares of the company’s stock, valued at approximately $206,039,270.30. This trade represents a 10.75% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Vikrant Sawhney sold 30,014 shares of the stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $125.79, for a total transaction of $3,775,461.06. Following the completion of the transaction, the insider owned 899,669 shares of the company’s stock, valued at $113,169,363.51. This represents a 3.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders bought 10,252,345 shares of company stock worth $209,789,893. 1.00% of the stock is currently owned by company insiders.
Blackstone Stock Up 0.4%
Blackstone (NYSE:BX – Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The asset manager reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.02. The business had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.45 billion. Blackstone had a net margin of 20.67% and a return on equity of 22.86%. The business’s revenue was up 10.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.11 earnings per share. On average, analysts forecast that Blackstone Inc. will post 5.83 earnings per share for the current year.
Analyst Ratings Changes
BX has been the subject of several research analyst reports. Rothschild & Co Redburn lowered their target price on shares of Blackstone from $134.00 to $130.00 and set a “neutral” rating for the company in a report on Tuesday, June 9th. The Goldman Sachs Group cut their price target on shares of Blackstone from $116.00 to $114.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 30th. Morgan Stanley decreased their price objective on shares of Blackstone from $215.00 to $184.00 and set an “overweight” rating for the company in a research note on Tuesday, April 21st. Oppenheimer cut their target price on Blackstone from $156.00 to $139.00 and set an “outperform” rating on the stock in a research report on Friday, July 17th. Finally, Jefferies Financial Group raised their price target on Blackstone from $143.00 to $152.00 and gave the stock 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 issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $145.71.
Check Out Our Latest Analysis on Blackstone
About Blackstone
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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