Purus Wealth Management LLC increased its stake in Blackstone Inc. (NYSE:BX – Get Rating) by 233.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,817 shares of the asset manager’s stock after acquiring an additional 4,770 shares during the quarter. Purus Wealth Management LLC’s holdings in Blackstone were worth $865,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Addison Capital Co lifted its stake in Blackstone by 32.3% in the first quarter. Addison Capital Co now owns 7,742 shares of the asset manager’s stock valued at $983,000 after buying an additional 1,888 shares during the period. Glassy Mountain Advisors Inc. grew its stake in Blackstone by 6.1% during the first quarter. Glassy Mountain Advisors Inc. now owns 28,491 shares of the asset manager’s stock valued at $3,617,000 after acquiring an additional 1,647 shares in the last quarter. NorthCrest Asset Management LLC bought a new position in shares of Blackstone in the first quarter worth approximately $369,000. Illinois Municipal Retirement Fund increased its stake in shares of Blackstone by 35.9% during the fourth quarter. Illinois Municipal Retirement Fund now owns 64,473 shares of the asset manager’s stock valued at $8,342,000 after buying an additional 17,023 shares during the period. Finally, Ameritas Advisory Services LLC bought a new stake in Blackstone during the 4th quarter valued at about $1,825,000. 63.68% of the stock is currently owned by institutional investors.
BX has been the topic of several research analyst reports. BMO Capital Markets increased their price objective on Blackstone from $124.00 to $142.00 and gave the stock an “outperform” rating in a research note on Friday, April 22nd. BNP Paribas cut Blackstone from an “outperform” rating to a “neutral” rating and set a $135.00 target price on the stock. in a research report on Thursday, April 7th. The Goldman Sachs Group lowered their price objective on Blackstone from $136.00 to $112.00 and set a “buy” rating on the stock in a report on Wednesday, June 29th. StockNews.com started coverage on Blackstone in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Bank of America raised their price target on shares of Blackstone from $172.00 to $180.00 and gave the company a “buy” rating in a research report on Friday, April 22nd. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $138.36.
Blackstone stock opened at $92.83 on Monday. Blackstone Inc. has a 1-year low of $86.97 and a 1-year high of $149.78. The firm’s fifty-day simple moving average is $104.80 and its 200-day simple moving average is $115.90. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $65.05 billion, a P/E ratio of 12.65, a P/E/G ratio of 0.98 and a beta of 1.45.
Blackstone (NYSE:BX – Get Rating) last issued 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. Blackstone had a net margin of 23.77% and a return on equity of 18.77%. The business had revenue of $5.13 billion for the quarter, compared to analyst estimates of $2.54 billion. During the same period in the previous year, the business earned $0.96 EPS. The firm’s revenue was down 3.3% on a year-over-year basis. On average, equities research analysts predict that Blackstone Inc. will post 5.71 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, May 9th. Shareholders 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 an increase 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%.
In other Blackstone news, major shareholder Holdings LP Blackstone III sold 200,000 shares of the company’s stock in a transaction on Monday, April 18th. The shares were sold at an average price of $62.00, for a total transaction of $12,400,000.00. Following the sale, the insider now directly owns 5,935,002 shares of the company’s stock, valued at $367,970,124. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Tactical Opportunity Blackstone acquired 2,500,000 shares of the company’s stock in a transaction dated Friday, April 29th. The stock was bought at an average cost of $4.00 per share, for a total transaction of $10,000,000.00. Following the completion of the transaction, the insider now directly owns 26,839,187 shares of the company’s stock, valued at $107,356,748. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 2,514,376 shares of company stock valued at $11,553,227 and sold 514,450 shares valued at $27,576,536. Insiders own 1.00% of the company’s stock.
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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