DJE Kapital AG Grows Position in Blackstone Inc. $BX

DJE Kapital AG boosted its stake in shares of Blackstone Inc. (NYSE:BX) by 171.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 69,414 shares of the asset manager’s stock after buying an additional 43,797 shares during the period. DJE Kapital AG’s holdings in Blackstone were worth $10,724,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Family CFO Inc purchased a new stake in Blackstone during the 4th quarter valued at $28,000. Ares Financial Consulting LLC purchased a new stake in Blackstone during the 4th quarter valued at $28,000. Richardson Financial Services Inc. purchased a new stake in Blackstone during the 4th quarter valued at $29,000. Redmont Wealth Advisors LLC purchased a new stake in Blackstone during the 3rd quarter valued at $30,000. Finally, Strive Asset Management LLC purchased a new stake in Blackstone during the 3rd quarter valued at $30,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on BX. Weiss Ratings cut Blackstone from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 4th. BMO Capital Markets boosted their price objective on Blackstone from $126.00 to $132.00 and gave the company an “outperform” rating in a report on Monday, April 13th. UBS Group dropped their price objective on Blackstone from $171.00 to $137.00 and set a “neutral” rating for the company in a report on Friday, February 20th. Citizens Jmp dropped their price objective on Blackstone from $195.00 to $190.00 and set a “market outperform” rating for the company in a report on Wednesday, April 22nd. Finally, Dbs Bank upgraded Blackstone to a “moderate buy” rating in a report on Wednesday, May 27th. Thirteen analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $150.86.

Blackstone Trading Up 1.9%

Shares of NYSE BX opened at $120.67 on Friday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.66. The business has a fifty day simple moving average of $119.81 and a two-hundred day simple moving average of $131.09. The firm has a market cap of $89.65 billion, a PE ratio of 30.86, a price-to-earnings-growth ratio of 1.29 and a beta of 1.59. Blackstone Inc. has a twelve month low of $101.73 and a twelve month high of $190.09.

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

Blackstone Cuts Dividend

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

Insider Buying and Selling at Blackstone

In other news, insider Vikrant Sawhney sold 30,014 shares of the business’s stock in a transaction 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 completion of the transaction, 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ruth Porat purchased 355 shares of Blackstone stock in a transaction dated Monday, May 11th. The stock was bought at an average cost of $123.04 per share, with a total value of $43,679.20. Following the completion of the transaction, the director owned 41,818 shares in the company, valued at approximately $5,145,286.72. This represents a 0.86% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 12,355,303 shares of company stock worth $264,789,896 over the last quarter. Insiders own 1.00% of the company’s stock.

About Blackstone

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.