Dfpg Investments LLC lifted its holdings in Blackstone Inc. (NYSE:BX – Get Rating) by 8.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,832 shares of the asset manager’s stock after purchasing an additional 1,427 shares during the quarter. Dfpg Investments LLC’s holdings in Blackstone were worth $1,997,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of BX. Palumbo Wealth Management LLC raised its position in shares of Blackstone by 1.0% during the 4th quarter. Palumbo Wealth Management LLC now owns 8,132 shares of the asset manager’s stock valued at $1,052,000 after buying an additional 83 shares during the period. Krilogy Financial LLC grew its position in shares of Blackstone by 0.7% in the fourth quarter. Krilogy Financial LLC now owns 12,811 shares of the asset manager’s stock valued at $1,658,000 after purchasing an additional 88 shares during the last quarter. First Bank & Trust boosted its holdings in shares of Blackstone by 7.0% in the 4th quarter. First Bank & Trust now owns 1,366 shares of the asset manager’s stock valued at $177,000 after purchasing an additional 89 shares during the last quarter. Israel Discount Bank of New York raised its stake in shares of Blackstone by 1.7% in the 1st quarter. Israel Discount Bank of New York now owns 5,537 shares of the asset manager’s stock valued at $703,000 after acquiring an additional 90 shares during the period. Finally, Joel Isaacson & Co. LLC grew its holdings in Blackstone by 0.6% during the 4th quarter. Joel Isaacson & Co. LLC now owns 14,311 shares of the asset manager’s stock worth $1,852,000 after acquiring an additional 92 shares in the last quarter. Institutional investors own 63.68% of the company’s stock.
In related news, Director Ruth Porat purchased 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 27th. The shares were purchased at an average price of $109.69 per share, for a total transaction of $548,450.00. Following the transaction, the director now directly owns 15,942 shares of the company’s stock, valued at approximately $1,748,677.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Tactical Opportunity Blackstone bought 2,500,000 shares of the company’s stock in a transaction on Friday, April 29th. The shares were acquired at an average price of $4.00 per share, for a total transaction of $10,000,000.00. Following the transaction, the insider now directly owns 26,839,187 shares in the company, valued at approximately $107,356,748. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 2,514,376 shares of company stock valued at $11,553,227 and have sold 514,450 shares valued at $27,576,536. Insiders own 1.00% of the company’s stock.
Several analysts have commented on BX shares. Exane BNP Paribas downgraded shares of Blackstone from an “outperform” rating to a “neutral” rating in a research report on Thursday, April 7th. BNP Paribas cut Blackstone from an “outperform” rating to a “neutral” rating and set a $135.00 price target on the stock. in a research note on Thursday, April 7th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Blackstone from $182.00 to $180.00 in a report on Thursday, May 19th. The Goldman Sachs Group cut their target price on shares of Blackstone from $136.00 to $112.00 and set a “buy” rating on the stock in a research report on Wednesday, June 29th. Finally, Jefferies Financial Group restated a “buy” rating and set a $155.00 price target on shares of Blackstone in a research note on Wednesday, April 13th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Blackstone currently has an average rating of “Moderate Buy” and an average target price of $138.36.
Blackstone stock opened at $92.83 on Monday. The stock has a 50-day moving average of $104.80 and a two-hundred day moving average of $115.90. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.77 and a current ratio of 0.77. The stock has a market cap of $65.05 billion, a PE ratio of 12.65, a price-to-earnings-growth ratio of 0.98 and a beta of 1.45. Blackstone Inc. has a one year low of $86.97 and a one year high of $149.78.
Blackstone (NYSE:BX – Get Rating) last released its earnings results on Thursday, April 21st. The asset manager reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.47. The business had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $2.54 billion. Blackstone had a return on equity of 18.77% and a net margin of 23.77%. The business’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.96 earnings per share. As a group, sell-side analysts predict that Blackstone Inc. will post 5.71 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, May 9th. Stockholders of record on Monday, May 2nd were paid a $1.32 dividend. The ex-dividend date of this dividend was Friday, April 29th. This is a boost from Blackstone’s previous quarterly dividend of $0.93. This represents a $5.28 dividend on an annualized basis and a dividend yield of 5.69%. Blackstone’s payout ratio is currently 71.93%.
About Blackstone: (Get Rating)
Blackstone Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, public debt and equity and multi-asset class strategies. The firm typically invests in early-stage companies. It also provides capital markets services.
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