Caxton Associates LLP Purchases New Position in Blackstone Inc. $BX

Caxton Associates LLP acquired a new position in shares of Blackstone Inc. (NYSE:BXFree Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 31,604 shares of the asset manager’s stock, valued at approximately $3,634,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of BX. Vanguard Group Inc. grew its stake in shares of Blackstone by 1.2% during 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 buying an additional 840,258 shares during the last quarter. Morgan Stanley grew its position 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 acquiring an additional 636,613 shares during the last quarter. State Street Corp lifted its position in shares of Blackstone by 0.6% during the fourth quarter. State Street Corp now owns 31,542,009 shares of the asset manager’s stock worth $4,861,885,000 after purchasing an additional 179,213 shares during the last quarter. Norges Bank purchased a new stake in shares of Blackstone during the fourth quarter valued at $1,275,747,000. Finally, Northern Trust Corp increased its stake in Blackstone by 4.7% in the 3rd quarter. Northern Trust Corp now owns 7,324,989 shares of the asset manager’s stock worth $1,251,474,000 after buying an additional 329,379 shares during the period. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Price Performance

BX opened at $124.67 on Friday. The firm has a market capitalization of $92.61 billion, a PE ratio of 31.88, a price-to-earnings-growth ratio of 1.33 and a beta of 1.58. The business’s 50-day moving average is $120.10 and its two-hundred day moving average is $124.81. Blackstone Inc. has a 1 year low of $101.73 and a 1 year high of $190.09. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.76 and a quick ratio of 0.76.

Blackstone (NYSE:BXGet Free Report) last released its quarterly earnings results on Thursday, July 23rd. The asset manager reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.18. The business had revenue of $5.04 billion for the quarter, compared to analysts’ expectations of $3.42 billion. Blackstone had a net margin of 20.67% and a return on equity of 22.86%. The company’s revenue was up 35.9% compared to the same quarter last year. During the same period last year, the business earned $0.98 EPS. Research analysts anticipate that Blackstone Inc. will post 5.85 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Monday, August 3rd will be given a dividend of $1.29 per share. The ex-dividend date of this dividend is Monday, August 3rd. This is a boost from Blackstone’s previous quarterly dividend of $1.16. This represents a $5.16 dividend on an annualized basis and a dividend yield of 4.1%. Blackstone’s payout ratio is currently 118.67%.

Key Headlines Impacting Blackstone

Here are the key news stories impacting Blackstone this week:

Analyst Upgrades and Downgrades

A number of equities analysts have commented on BX shares. JPMorgan Chase & Co. dropped their target price on shares of Blackstone from $136.00 to $132.00 and set a “neutral” rating on the stock in a research note on Thursday, July 16th. Weiss Ratings cut Blackstone from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 4th. BMO Capital Markets lifted their target price on Blackstone from $126.00 to $132.00 and gave the company an “outperform” rating in a research report on Monday, April 13th. TD Cowen dropped their price target on Blackstone from $140.00 to $133.00 and set a “buy” rating on the stock in a research report on Monday, May 18th. Finally, HSBC restated a “hold” rating and issued a $135.00 price objective on shares of Blackstone in a report on Monday. Thirteen research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat, Blackstone presently has a consensus rating of “Moderate Buy” and a consensus target price of $145.71.

Check Out Our Latest Report on Blackstone

Insider Transactions at Blackstone

In other Blackstone news, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,500 shares of the firm’s stock in a transaction dated 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 sale, the insider owned 19,374 shares of the company’s stock, valued at approximately $73,233.72. This trade represents a 99.74% decrease in their ownership of the stock. 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 acquired 765,111 shares of the firm’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was bought at an average cost of $26.14 per share, with a total value of $20,000,001.54. Following the completion of the transaction, the insider directly owned 7,882,145 shares in the company, valued at $206,039,270.30. The trade was a 10.75% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders have acquired 10,252,345 shares of company stock worth $209,789,893. 1.00% of the stock is currently owned by corporate insiders.

Blackstone Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding BX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Blackstone Inc. (NYSE:BXFree Report).

Institutional Ownership by Quarter for Blackstone (NYSE:BX)

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