Blackstone Inc. $BX Shares Purchased by Blair William & Co. IL

Blair William & Co. IL boosted its holdings in shares of Blackstone Inc. (NYSE:BX) by 0.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,369,045 shares of the asset manager’s stock after buying an additional 7,396 shares during the quarter. Blair William & Co. IL owned 0.19% of Blackstone worth $211,025,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of BX. Redwood Financial Network Corp boosted its stake in shares of Blackstone by 1.8% in the 2nd quarter. Redwood Financial Network Corp now owns 3,588 shares of the asset manager’s stock valued at $537,000 after buying an additional 65 shares during the period. Benchmark Financial Wealth Advisors LLC lifted its stake in Blackstone by 0.9% in the fourth quarter. Benchmark Financial Wealth Advisors LLC now owns 7,748 shares of the asset manager’s stock worth $1,194,000 after acquiring an additional 69 shares during the last quarter. Parcion Private Wealth LLC increased its position in shares of Blackstone by 0.6% in the 4th quarter. Parcion Private Wealth LLC now owns 10,935 shares of the asset manager’s stock valued at $1,686,000 after purchasing an additional 70 shares during the last quarter. Trivium Point Advisory LLC raised its holdings in shares of Blackstone by 2.6% in the 4th quarter. Trivium Point Advisory LLC now owns 2,713 shares of the asset manager’s stock valued at $418,000 after purchasing an additional 70 shares in the last quarter. Finally, Zacks Investment Management grew its stake in shares of Blackstone by 2.1% during the third quarter. Zacks Investment Management now owns 3,453 shares of the asset manager’s stock worth $590,000 after purchasing an additional 71 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on BX. Piper Sandler raised their price target on Blackstone from $122.00 to $130.00 and gave the company a “neutral” rating in a research note on Monday, April 27th. Argus cut their target price on Blackstone from $163.00 to $146.00 and set a “buy” rating on the stock in a research report on Tuesday, April 28th. Weiss Ratings downgraded Blackstone from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 4th. BMO Capital Markets raised their price objective on shares of Blackstone from $126.00 to $132.00 and gave the stock an “outperform” rating in a report on Monday, April 13th. Finally, Royal Bank Of Canada began coverage on shares of Blackstone in a report on Monday, June 8th. They issued an “outperform” rating for the company. Thirteen equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $150.86.

Insiders Place Their Bets

In related news, major shareholder Treasury Holdings I. Blackstone acquired 9,486,795 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The shares were purchased at an average price of $20.00 per share, with a total value of $189,735,900.00. Following the completion of the acquisition, the insider owned 9,111,800 shares in the company, valued at approximately $182,236,000. This represents a -2,529.85% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Vikrant Sawhney sold 30,014 shares of the stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $125.79, for a total transaction of $3,775,461.06. Following the completion of the transaction, the insider directly owned 899,669 shares of the company’s stock, valued at approximately $113,169,363.51. This trade represents a 3.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders bought 12,355,303 shares of company stock worth $264,789,896. Insiders own 1.00% of the company’s stock.

Blackstone Price Performance

Shares of NYSE:BX opened at $127.89 on Wednesday. Blackstone Inc. has a one year low of $101.73 and a one year high of $190.09. The stock has a market capitalization of $95.01 billion, a price-to-earnings ratio of 32.71, a PEG ratio of 1.35 and a beta of 1.59. The company has a 50-day simple moving average of $120.51 and a 200-day simple moving average of $130.70. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.76 and a current ratio of 0.76.

Blackstone (NYSE:BX) last issued its quarterly earnings results on Thursday, April 23rd. The asset manager reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.02. Blackstone had a return on equity of 22.86% and a net margin of 20.67%.The firm had revenue of $3.43 billion for the quarter, compared to analysts’ expectations of $3.45 billion. During the same quarter in the previous year, the firm posted $1.11 EPS. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. On average, analysts predict that Blackstone Inc. will post 5.9 EPS for the current year.

Blackstone Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 11th. Stockholders of record on Monday, May 4th were issued a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend was Monday, May 4th. Blackstone’s dividend payout ratio (DPR) is currently 118.67%.

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.