Focus Partners Advisor Solutions LLC Buys Shares of 15,899 Blackstone Inc. $BX

Focus Partners Advisor Solutions LLC purchased a new position in shares of Blackstone Inc. (NYSE:BXFree Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 15,899 shares of the asset manager’s stock, valued at approximately $1,871,000.

A number of other institutional investors have also added to or reduced their stakes in BX. Vanguard Group Inc. increased its holdings in shares of Blackstone by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 71,667,695 shares of the asset manager’s stock valued at $11,046,859,000 after acquiring an additional 840,258 shares during the period. Morgan Stanley lifted its stake in shares of Blackstone by 2.0% during the 4th quarter. Morgan Stanley now owns 32,862,165 shares of the asset manager’s stock worth $5,065,374,000 after purchasing an additional 636,613 shares during the last quarter. State Street Corp grew its stake in Blackstone by 0.6% in the fourth quarter. State Street Corp now owns 31,542,009 shares of the asset manager’s stock valued at $4,861,885,000 after purchasing an additional 179,213 shares during the last quarter. Bank of America Corp DE raised its holdings in Blackstone by 3.4% in the first quarter. Bank of America Corp DE now owns 11,538,067 shares of the asset manager’s stock worth $1,326,762,000 after purchasing an additional 384,264 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Blackstone during the fourth quarter valued at about $1,275,747,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insider Activity at Blackstone

In other Blackstone news, major shareholder Private Multi-Asset Blackstone bought 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, for a total transaction of $20,000,001.54. Following the completion of the transaction, the insider directly 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,500 shares of Blackstone stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $3.78, for a total value of $28,264,950.00. Following the transaction, the insider owned 19,374 shares of the company’s stock, valued at $73,233.72. The trade was a 99.74% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders bought 1,339,180 shares of company stock worth $35,062,433 and sold 7,562,000 shares worth $40,331,085. 1.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

BX has been the subject of several recent analyst reports. TD Cowen boosted their price objective on shares of Blackstone from $133.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. Oppenheimer upped their price target on Blackstone from $139.00 to $140.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. Morgan Stanley lowered their price objective on Blackstone from $215.00 to $184.00 and set an “overweight” rating for the company in a research report on Tuesday, April 21st. HSBC reaffirmed a “hold” rating and set a $135.00 target price on shares of Blackstone in a research report on Monday, July 20th. Finally, Dbs Bank raised Blackstone to a “moderate buy” rating in a report on Wednesday, May 27th. Thirteen equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, Blackstone has a consensus rating of “Moderate Buy” and an average target price of $147.95.

View Our Latest Analysis on BX

Blackstone Price Performance

Shares of BX opened at $143.94 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.72 and a quick ratio of 0.76. The company’s fifty day moving average price is $126.51 and its 200-day moving average price is $122.70. Blackstone Inc. has a 1-year low of $101.73 and a 1-year high of $190.09. The firm has a market capitalization of $108.04 billion, a PE ratio of 32.20, a price-to-earnings-growth ratio of 1.60 and a beta of 1.56.

Blackstone (NYSE:BXGet Free Report) last issued its earnings results on Thursday, July 23rd. The asset manager reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.18. The company had revenue of $5.04 billion during the quarter, compared to analyst estimates of $3.42 billion. Blackstone had a return on equity of 23.77% and a net margin of 21.84%.The firm’s quarterly revenue was up 35.9% on a year-over-year basis. During the same quarter last year, the business posted $0.98 EPS. On average, equities research analysts predict that Blackstone Inc. will post 6 EPS for the current year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Monday, August 3rd were issued a $1.29 dividend. This is a boost from Blackstone’s previous quarterly dividend of $1.16. The ex-dividend date was Monday, August 3rd. This represents a $5.16 annualized dividend and a yield of 3.6%. Blackstone’s dividend payout ratio is currently 115.44%.

Blackstone 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.

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Institutional Ownership by Quarter for Blackstone (NYSE:BX)

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