Blackstone Inc. $BX Shares Sold by Choreo LLC

Choreo LLC decreased its position in Blackstone Inc. (NYSE:BX) by 4.0% in the third quarter, Holdings Channel reports. The institutional investor owned 131,896 shares of the asset manager’s stock after selling 5,566 shares during the period. Choreo LLC’s holdings in Blackstone were worth $22,535,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Blackstone by 2.2% in 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 in the last quarter. Whittier Trust Co. raised its position in Blackstone by 2.1% during the third quarter. Whittier Trust Co. now owns 346,318 shares of the asset manager’s stock worth $58,337,000 after acquiring an additional 7,053 shares during the period. Exchange Traded Concepts LLC grew its position in shares of Blackstone by 733.2% in the third quarter. Exchange Traded Concepts LLC now owns 13,715 shares of the asset manager’s stock valued at $2,343,000 after purchasing an additional 12,069 shares during the period. Longfellow Investment Management Co. LLC increased its stake in shares of Blackstone by 259.8% during the second quarter. Longfellow Investment Management Co. LLC now owns 22,160 shares of the asset manager’s stock worth $3,315,000 after purchasing an additional 16,001 shares in the last quarter. Finally, WINTON GROUP Ltd purchased a new position in Blackstone in the 2nd quarter valued at about $4,117,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on BX. Citizens Jmp reissued a “market outperform” rating and set a $195.00 target price on shares of Blackstone in a report on Friday, January 30th. Piper Sandler lowered their target price on shares of Blackstone from $168.00 to $158.00 and set a “neutral” rating on the stock in a research note on Monday, February 2nd. BMO Capital Markets decreased their price target on shares of Blackstone from $180.00 to $165.00 and set an “outperform” rating on the stock in a research note on Monday, February 2nd. Royal Bank Of Canada initiated coverage on shares of Blackstone in a research note on Monday. They set an “outperform” rating and a $179.00 price objective for the company. Finally, Citigroup reissued a “market outperform” rating on shares of Blackstone in a research note on Friday, January 30th. Eleven equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat.com, Blackstone has an average rating of “Moderate Buy” and an average price target of $169.38.

Blackstone Price Performance

Shares of BX stock opened at $117.87 on Friday. The firm’s 50-day moving average is $144.71 and its two-hundred day moving average is $155.14. Blackstone Inc. has a 12 month low of $111.04 and a 12 month high of $190.09. 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 company has a market capitalization of $87.04 billion, a PE ratio of 30.38, a price-to-earnings-growth ratio of 0.92 and a beta of 1.76.

Blackstone (NYSE:BX) last released its quarterly 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. The firm had revenue of $4.36 billion for the quarter, compared to analyst estimates of $3.69 billion. Blackstone had a net margin of 20.89% and a return on equity of 22.17%. The business’s revenue for the quarter was up 41.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.69 EPS. Analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 17th. Investors of record on Monday, February 9th were given a dividend of $1.49 per share. This represents a $5.96 dividend on an annualized basis and a dividend yield of 5.1%. 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 is 153.61%.

Insider Transactions at Blackstone

In other Blackstone news, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of the stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $10.00, for a total transaction of $15,961,420.00. Following the completion of the transaction, the insider owned 2,161 shares of the company’s stock, valued at $21,610. This trade represents a 99.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Holdings Iv Gp Mana Blackstone acquired 1,146,789 shares of the firm’s stock in a transaction dated Monday, February 23rd. The stock was bought at an average price of $26.16 per share, for a total transaction of $30,000,000.24. Following the completion of the acquisition, the insider owned 16,716,249 shares in the company, valued at approximately $437,297,073.84. The trade was a 7.37% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 1.00% of the company’s stock.

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.