Keybank National Association OH Has $2.98 Million Position in Blackstone Inc. $BX

Keybank National Association OH boosted its holdings in shares of Blackstone Inc. (NYSE:BX) by 35.2% in the first quarter, according to its most recent filing with the SEC. The firm owned 25,928 shares of the asset manager’s stock after acquiring an additional 6,747 shares during the period. Keybank National Association OH’s holdings in Blackstone were worth $2,981,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Family CFO Inc bought a new stake in shares of Blackstone in the 4th quarter valued at about $28,000. Ares Financial Consulting LLC acquired a new position in shares of Blackstone in the 4th quarter valued at $28,000. Richardson Financial Services Inc. bought a new position in Blackstone during the fourth quarter worth about $29,000. Strive Asset Management LLC bought a new stake in shares of Blackstone in the third quarter worth about $30,000. Finally, Palladiem LLC acquired a new position in shares of Blackstone in the 4th quarter valued at approximately $31,000. Institutional investors own 70.00% of the company’s stock.

Insider Transactions at Blackstone

In other Blackstone news, insider Vikrant Sawhney sold 30,014 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider directly owned 899,669 shares in the company, valued at $113,169,363.51. This trade represents a 3.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Ruth Porat bought 355 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was purchased at an average cost of $123.04 per share, for a total transaction of $43,679.20. Following the transaction, the director directly owned 41,818 shares of the company’s stock, valued at $5,145,286.72. The trade was a 0.86% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders purchased 10,252,345 shares of company stock worth $209,789,893. 1.00% of the stock is currently owned by insiders.

Blackstone Stock Performance

NYSE BX opened at $122.73 on Monday. The firm has a market capitalization of $91.17 billion, a P/E ratio of 31.39, a price-to-earnings-growth ratio of 1.33 and a beta of 1.58. The firm’s fifty day moving average price is $119.67 and its two-hundred day moving average price is $127.87. Blackstone Inc. has a 1 year low of $101.73 and a 1 year high of $190.09. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.66.

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

Blackstone Cuts Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on BX shares. TD Cowen reduced their price target on shares of Blackstone from $140.00 to $133.00 and set a “buy” rating for the company in a report on Monday, May 18th. Dbs Bank upgraded Blackstone to a “moderate buy” rating in a report on Wednesday, May 27th. The Goldman Sachs Group cut their target price on Blackstone from $116.00 to $114.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 30th. Oppenheimer boosted their price objective on shares of Blackstone from $154.00 to $156.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Finally, BMO Capital Markets lifted their price target on shares of Blackstone from $126.00 to $132.00 and gave the company an “outperform” rating in a research note on Monday, April 13th. Thirteen equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $149.36.

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.