Tiaa Fsb lowered its stake in Blackstone Inc. (NYSE: BX – Get Rating) by 8.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 193,369 shares of the asset manager’s stock after selling 19,004 shares during the quarter. Tiaa Fsb’s holdings in Blackstone were worth $ 24,450,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Western Pacific Wealth Management LP bought a new stake in Blackstone during the 4th quarter valued at approximately $ 27,000. Citizens National Bank Trust Department bought a new stake in Blackstone during the 4th quarter valued at approximately $ 39,000. Earnest Partners LLC bought a new stake in Blackstone during the 4th quarter valued at approximately $ 40,000. Quadrant Capital Group LLC raised its stake in Blackstone by 41.9% during the 4th quarter. Quadrant Capital Group LLC now owns 335 shares of the asset manager’s stock valued at $ 43,000 after purchasing an additional 99 shares during the period. Finally, Massmutual Trust Co. FSB ADV raised its stake in Blackstone by 1,576.2% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 352 shares of the asset manager’s stock valued at $ 45,000 after purchasing an additional 331 shares during the period. 63.68% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Blackstone stock opened at $ 93.35 on Friday. The stock has a market cap of $ 65.41 billion, a price-to-earnings ratio of 12.72, a price-to-earnings-growth ratio of 0.96 and a beta of 1.37. 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 50 day moving average price of $ 107.19 and a 200-day moving average price of $ 117.64. Blackstone Inc. has a one year low of $ 87.39 and a one year high of $ 149.78.
Blackstone (NYSE: BX – Get Rating) last announced its earnings results on Thursday, April 21st. The asset manager reported $ 1.55 EPS for the quarter, topping analysts’ consensus estimates of $ 1.08 by $ 0.47. The firm had revenue of $ 5.13 billion during the quarter, compared to analysts’ expectations of $ 2.54 billion. Blackstone had a return on equity of 18.77% and a net margin of 23.77%. The company quarterly revenue was down 3.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $ 0.96 EPS. Sell-side analysts predict that Blackstone Inc. will post 5.71 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, May 9th. Investors of record on Monday, May 2nd were paid a dividend of $ 1.32 per share. This is a positive change from Blackstone’s previous quarterly dividend of $ 0.93. This represents a $ 5.28 dividend on an annualized basis and a dividend yield of 5.66%. The ex-dividend date of this dividend was Friday, April 29th. Blackstone’s dividend payout ratio (DPR) is currently 71.93%.
Several analysts recently issued reports on BX shares. BNP Paribas downgraded Blackstone from an “outperform” rating to a “neutral” rating and set a $ 135.00 target price on the stock. in a research note on Thursday, April 7th. Citigroup cut their price target on Blackstone from $ 132.50 to $ 117.00 and set a “neutral” rating for the company in a report on Tuesday, April 12th. Exane BNP Paribas cut Blackstone from an “outperform” rating to a “neutral” rating in a report on Thursday, April 7th. Bank of America raised their price target on Blackstone from $ 172.00 to $ 180.00 and gave the company a “buy” rating in a report on Friday, April 22nd. Finally, StockNews.com assumed coverage on Blackstone in a report on Thursday, March 31st. They set a “hold” rating for the company. Six analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $ 141.00.
In related news, major shareholder Holdings LP Blackstone III sold 18,429 shares of the firm’s stock in a transaction that occurred on Tuesday, April 5th. The stock was sold at an average price of $ 63.58, for a total transaction of $ 1,171,715.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Tactical Opportunit Blackstone purchased 2,500,000 shares of the firm’s stock in a transaction that occurred on Friday, April 29th. The shares were acquired at an average cost of $ 4.00 per share, with a total value of $ 10,000,000.00. Following the completion of the purchase, 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 539,650 shares valued at $ 29,123,312. 1.00% of the stock is currently owned by company insiders.
Blackstone Company Profile: (Get Rating)
Blackstone Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds, public debt and equity and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services.
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