Blackstone Inc. $BX Shares Purchased by Dakota Wealth Management

Dakota Wealth Management raised its stake in Blackstone Inc. (NYSE:BX) by 16.9% in the third quarter, HoldingsChannel.com reports. The fund owned 57,047 shares of the asset manager’s stock after purchasing an additional 8,245 shares during the quarter. Dakota Wealth Management’s holdings in Blackstone were worth $9,746,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Blackstone during the 2nd quarter worth about $1,071,348,000. Vanguard Group Inc. lifted its stake in shares of Blackstone by 2.2% during the second quarter. Vanguard Group Inc. now owns 69,492,377 shares of the asset manager’s stock valued at $10,394,670,000 after buying an additional 1,494,796 shares during the period. Lazard Asset Management LLC grew its stake in Blackstone by 31.9% in the 2nd quarter. Lazard Asset Management LLC now owns 3,803,344 shares of the asset manager’s stock worth $568,902,000 after acquiring an additional 919,773 shares during the period. Canada Pension Plan Investment Board raised its holdings in Blackstone by 115.4% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,088,786 shares of the asset manager’s stock valued at $162,861,000 after acquiring an additional 583,384 shares during the last quarter. Finally, Amundi boosted its holdings in shares of Blackstone by 19.9% during the second quarter. Amundi now owns 2,904,030 shares of the asset manager’s stock worth $444,494,000 after purchasing an additional 482,528 shares during the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insiders Place Their Bets

In other Blackstone news, major shareholder Holdings Iv Gp Mana Blackstone purchased 384,468 shares of Blackstone stock in a transaction that occurred on Friday, December 19th. The stock was purchased at an average price of $26.01 per share, with a total value of $10,000,012.68. Following the completion of the acquisition, the insider owned 16,525,117 shares of the company’s stock, valued at approximately $429,818,293.17. This trade represents a 2.38% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of Blackstone stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $10.00, for a total value of $15,961,420.00. Following the sale, the insider owned 2,161 shares in the company, valued at $21,610. This represents a 99.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.00% of the company’s stock.

Blackstone Trading Down 6.3%

NYSE:BX opened at $113.61 on Tuesday. Blackstone Inc. has a 12 month low of $111.04 and a 12 month high of $190.09. The business’s 50-day moving average is $146.84 and its two-hundred day moving average is $156.03. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.76 and a quick ratio of 0.75. The firm has a market capitalization of $83.89 billion, a PE ratio of 29.28, a price-to-earnings-growth ratio of 0.94 and a beta of 1.76.

Blackstone (NYSE:BX) last announced its earnings results on Thursday, January 29th. The asset manager reported $1.75 EPS for the quarter, beating the consensus estimate of $1.54 by $0.21. Blackstone had a return on equity of 22.17% and a net margin of 20.89%.The business had revenue of $4.36 billion for the quarter, compared to the consensus estimate of $3.69 billion. During the same period last year, the business posted $1.69 EPS. The company’s revenue was up 41.4% on a year-over-year basis. Research analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 17th. Investors of record on Monday, February 9th were issued a dividend of $1.49 per share. This represents a $5.96 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date of this dividend was Monday, February 9th. This is a positive change from Blackstone’s previous quarterly dividend of $1.29. Blackstone’s dividend payout ratio (DPR) is 153.61%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on BX shares. JPMorgan Chase & Co. reduced their target price on Blackstone from $176.00 to $158.00 and set a “neutral” rating on the stock in a research report on Friday, January 30th. Citigroup reiterated a “market outperform” rating on shares of Blackstone in a report on Friday, January 30th. Rothschild & Co Redburn lowered their target price on shares of Blackstone from $165.00 to $158.00 and set a “neutral” rating for the company in a report on Monday, February 2nd. Bank of America decreased their price target on shares of Blackstone from $199.00 to $189.00 in a report on Wednesday, December 10th. Finally, The Goldman Sachs Group dropped their price objective on Blackstone from $166.00 to $158.00 and set a “neutral” rating for the company in a report on Friday, January 30th. Eleven equities 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.com, Blackstone has a consensus rating of “Moderate Buy” and an average target price of $169.38.

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.