Castleark Management LLC Has $37.65 Million Stock Holdings in Blackstone Inc. $BX

Castleark Management LLC grew its position in Blackstone Inc. (NYSE:BX) by 2.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 244,268 shares of the asset manager’s stock after purchasing an additional 5,094 shares during the period. Blackstone comprises approximately 1.1% of Castleark Management LLC’s holdings, making the stock its 20th biggest holding. Castleark Management LLC’s holdings in Blackstone were worth $37,651,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also added to or reduced their stakes in BX. Family CFO Inc acquired a new position in Blackstone during the 4th quarter worth about $28,000. Ares Financial Consulting LLC acquired a new position in Blackstone during the 4th quarter worth about $28,000. Richardson Financial Services Inc. acquired a new position in Blackstone during the 4th quarter worth about $29,000. Redmont Wealth Advisors LLC acquired a new position in Blackstone during the 3rd quarter worth about $30,000. Finally, Strive Asset Management LLC acquired a new position in Blackstone during the 3rd quarter worth about $30,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Buying and Selling at Blackstone

In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,504 shares of the stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $3.51, for a total transaction of $26,246,039.04. Following the completion of the sale, the insider directly owned 25,832 shares of the company’s stock, valued at approximately $90,670.32. This represents a 99.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Vikrant Sawhney sold 30,014 shares of the stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $125.79, for a total value of $3,775,461.06. Following the sale, the insider directly owned 899,669 shares of the company’s stock, valued at approximately $113,169,363.51. The trade was a 3.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders purchased 12,355,303 shares of company stock worth $264,789,896 in the last quarter. Company insiders own 1.00% of the company’s stock.

Blackstone Stock Performance

Shares of BX stock opened at $122.63 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.76 and a quick ratio of 0.76. The stock has a market cap of $91.10 billion, a PE ratio of 31.36, a price-to-earnings-growth ratio of 1.31 and a beta of 1.59. The stock has a 50-day moving average of $119.98 and a 200-day moving average of $131.03. Blackstone Inc. has a one year low of $101.73 and a one year high of $190.09.

Blackstone (NYSE:BX) last announced its quarterly earnings results on Thursday, April 23rd. The asset manager reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.02. Blackstone had a return on equity of 22.86% and a net margin of 20.67%.The company had revenue of $3.43 billion during the quarter, compared to analysts’ expectations of $3.45 billion. During the same period in the prior year, the business posted $1.11 EPS. Blackstone’s revenue was up 10.0% on a year-over-year basis. As a group, sell-side analysts expect that Blackstone Inc. will post 5.9 earnings per share for the current year.

Blackstone Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 11th. Investors of record on Monday, May 4th were paid a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend was Monday, May 4th. Blackstone’s dividend payout ratio is presently 118.67%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on BX shares. Zacks Research upgraded shares of Blackstone from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th. TD Cowen cut their target price on shares of Blackstone from $140.00 to $133.00 and set a “buy” rating on the stock in a research report on Monday, May 18th. Royal Bank Of Canada initiated coverage on shares of Blackstone in a research report on Monday. They set an “outperform” rating on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Blackstone in a research report on Monday. They set a “buy” rating on the stock. Finally, JPMorgan Chase & Co. cut their target price on shares of Blackstone from $142.00 to $136.00 and set a “neutral” rating on the stock in a research report on Friday, April 24th. Thirteen analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $150.86.

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.