Danske Bank A S Buys Shares of 259,656 Blackstone Inc. $BX

Danske Bank A S bought a new position in Blackstone Inc. (NYSE:BX) in the third quarter, Holdings Channel.com reports. The firm bought 259,656 shares of the asset manager’s stock, valued at approximately $44,362,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. REAP Financial Group LLC bought a new stake in shares of Blackstone during the third quarter worth $26,000. Traub Capital Management LLC bought a new position in shares of Blackstone in the 2nd quarter valued at $27,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Blackstone during the 3rd quarter valued at $30,000. Strive Asset Management LLC bought a new position in Blackstone in the 3rd quarter valued at approximately $30,000. Finally, Kelleher Financial Advisors acquired a new stake in Blackstone during the 3rd quarter worth approximately $34,000. Institutional investors own 70.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on BX. Jefferies Financial Group dropped their price target on shares of Blackstone from $185.00 to $161.00 and set a “buy” rating for the company in a research note on Tuesday, February 10th. The Goldman Sachs Group decreased 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. BMO Capital Markets cut their target price on Blackstone from $180.00 to $165.00 and set an “outperform” rating on the stock in a report on Monday, February 2nd. Rothschild & Co Redburn decreased their price target on Blackstone from $165.00 to $158.00 and set a “neutral” rating for the company in a research note on Monday, February 2nd. Finally, UBS Group reduced their target price on Blackstone from $171.00 to $137.00 and set a “neutral” rating on the stock in a report on Friday, February 20th. Eleven investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $165.86.

Insider Transactions at Blackstone

In other news, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of the business’s stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $10.00, for a total transaction of $15,961,420.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Holdings Iv Gp Mana Blackstone bought 1,146,789 shares of the business’s stock in a transaction that occurred on Monday, February 23rd. The stock was purchased 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 $437,297,073.84. This represents a 7.37% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 1.00% of the stock is owned by corporate insiders.

Blackstone Stock Up 1.4%

Shares of NYSE:BX opened at $113.54 on Thursday. 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 0.61, a current ratio of 0.76 and a quick ratio of 0.76. The business’s 50-day moving average is $131.94 and its 200-day moving average is $149.16. The company has a market capitalization of $84.27 billion, a price-to-earnings ratio of 29.26, a P/E/G ratio of 0.89 and a beta of 1.79.

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

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 17th. Investors of record on Monday, February 9th were paid a dividend of $1.49 per share. This is a boost from Blackstone’s previous quarterly dividend of $1.29. This represents a $5.96 annualized dividend and a yield of 5.2%. The ex-dividend date of this dividend was Monday, February 9th. Blackstone’s payout ratio is currently 153.61%.

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.