Blackstone Inc. $BX Position Increased by Founders Financial Securities LLC

Founders Financial Securities LLC increased its stake in Blackstone Inc. (NYSE:BX) by 748.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 16,354 shares of the asset manager’s stock after acquiring an additional 14,426 shares during the quarter. Founders Financial Securities LLC’s holdings in Blackstone were worth $1,912,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of BX. Jain Global LLC acquired a new stake in Blackstone during the third quarter valued at $9,116,000. Fayez Sarofim & Co lifted its holdings in shares of Blackstone by 1.9% during the 3rd quarter. Fayez Sarofim & Co now owns 1,270,608 shares of the asset manager’s stock valued at $217,083,000 after buying an additional 24,237 shares during the last quarter. Natixis Advisors LLC grew its stake in shares of Blackstone by 20.4% in the 3rd quarter. Natixis Advisors LLC now owns 840,401 shares of the asset manager’s stock valued at $143,582,000 after buying an additional 142,479 shares in the last quarter. Close Asset Management Ltd raised its position in Blackstone by 16,035.1% during the third quarter. Close Asset Management Ltd now owns 1,140,264 shares of the asset manager’s stock valued at $194,746,000 after acquiring an additional 1,133,197 shares in the last quarter. Finally, Mackenzie Financial Corp grew its position in Blackstone by 2.1% in the third quarter. Mackenzie Financial Corp now owns 904,237 shares of the asset manager’s stock worth $154,489,000 after acquiring an additional 18,339 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Trading Down 0.0%

Shares of Blackstone stock opened at $123.78 on Monday. Blackstone Inc. has a 1 year low of $101.73 and a 1 year high of $190.09. The company’s fifty day simple moving average is $121.11 and its 200-day simple moving average is $130.24. The company has a market cap of $91.95 billion, a price-to-earnings ratio of 31.66, a PEG ratio of 1.34 and a beta of 1.59. 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 released its earnings results on Thursday, April 23rd. The asset manager reported $1.36 EPS for the quarter, beating the consensus estimate of $1.34 by $0.02. The firm had revenue of $3.43 billion during 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%. The business’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.11 EPS. As a group, sell-side analysts expect 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 paid a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 3.7%. The ex-dividend date was Monday, May 4th. Blackstone’s dividend payout ratio (DPR) is presently 118.67%.

Insider Transactions at Blackstone

In other news, major shareholder Treasury Holdings I. Blackstone purchased 9,486,795 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were purchased at an average cost of $20.00 per share, for a total transaction of $189,735,900.00. Following the completion of the purchase, the insider directly owned 9,111,800 shares of the company’s stock, valued at approximately $182,236,000. The trade was a -2,529.85% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,500 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $3.78, for a total value of $28,264,950.00. Following the completion of the sale, the insider owned 19,374 shares of the company’s stock, valued at $73,233.72. This represents a 99.74% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have bought 9,487,234 shares of company stock valued at $189,789,892. 1.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on BX shares. Argus cut their price target on shares of Blackstone from $163.00 to $146.00 and set a “buy” rating on the stock in a report on Tuesday, April 28th. Citizens Jmp cut their target price on Blackstone from $195.00 to $190.00 and set a “market outperform” rating on the stock in a report on Wednesday, April 22nd. The Goldman Sachs Group decreased their price target on Blackstone from $118.00 to $116.00 and set a “neutral” rating for the company in a research note on Friday, April 24th. Barclays reduced their target price on Blackstone from $126.00 to $124.00 and set an “equal weight” rating for the company in a report on Wednesday, April 8th. Finally, Piper Sandler lifted their price target on shares of Blackstone from $122.00 to $130.00 and gave the company a “neutral” rating in a research report on Monday, April 27th. Thirteen research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat, Blackstone has an average rating of “Moderate Buy” and an average target price of $150.86.

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.