Blackstone Inc. (NYSE:BX) Shares Purchased by Mutual Advisors LLC

Posted by Defense World Staff on Mar 23rd, 2023

Mutual Advisors LLC boosted its stake in Blackstone Inc. (NYSE:BX – Get Rating) by 2.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,230 shares of the asset manager’s stock after acquiring an additional 401 shares during the period. Mutual Advisors LLC’s holdings in Blackstone were worth $1,427,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in BX. Whalerock Point Partners LLC bought a new position in Blackstone in the 3rd quarter valued at about $282,571,000. Mach 1 Financial Group LLC acquired a new stake in Blackstone in the 3rd quarter valued at about $25,000. SJS Investment Consulting Inc. purchased a new stake in Blackstone during the third quarter valued at about $26,000. HWG Holdings LP purchased a new stake in Blackstone during the third quarter valued at about $28,000. Finally, Trust Co. of Vermont lifted its stake in Blackstone by 133.3% during the third quarter. Trust Co. of Vermont now owns 350 shares of the asset manager’s stock valued at $30,000 after buying an additional 200 shares in the last quarter. 62.39% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have commented on BX. The Goldman Sachs Group upped their price objective on shares of Blackstone from $86.00 to $100.00 and gave the company a “buy” rating in a research note on Monday, January 30th. CICC Research started coverage on shares of Blackstone in a research report on Thursday, January 12th. They issued an “outperform” rating for the company. JPMorgan Chase & Co. raised shares of Blackstone from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $104.00 to $105.00 in a research report on Tuesday, January 24th. BMO Capital Markets increased their price objective on Blackstone from $85.00 to $92.00 and gave the stock a “market perform” rating in a report on Friday, January 27th. Finally, Piper Sandler dropped their price objective on Blackstone from $114.00 to $111.00 and set an “overweight” rating on the stock in a report on Wednesday, December 21st. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $112.33.

Blackstone Price Performance

Shares of BX stock opened at $83.98 on Thursday. The stock has a 50-day moving average price of $90.12 and a 200 day moving average price of $87.83. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.69. The firm has a market cap of $59.32 billion, a price-to-earnings ratio of 35.43, a PEG ratio of 1.85 and a beta of 1.52. Blackstone Inc. has a 12 month low of $71.72 and a 12 month high of $132.93.

Blackstone (NYSE:BX – Get Rating) last posted its earnings results on Thursday, January 26th. The asset manager reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.12. Blackstone had a return on equity of 19.43% and a net margin of 20.52%. The company had revenue of $1.70 billion during the quarter, compared to analyst estimates of $2.62 billion. During the same period in the previous year, the company earned $1.71 EPS. Research analysts expect that Blackstone Inc. will post 4.66 EPS for the current year.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 13th. Shareholders of record on Monday, February 6th were paid a $0.91 dividend. This is a boost from Blackstone’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Friday, February 3rd. This represents a $3.64 annualized dividend and a yield of 4.33%. Blackstone’s payout ratio is presently 153.59%.

Insider Buying and Selling at Blackstone

In other Blackstone news, major shareholder Holdings L.P. Blackstone III sold 99,889,464 shares of the business’s stock in a transaction that occurred on Friday, March 10th. The stock was sold at an average price of $12.00, for a total transaction of $1,198,673,568.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, major shareholder Holdings L.P. Blackstone III sold 99,889,464 shares of the company’s stock in a transaction on Friday, March 10th. The stock was sold at an average price of $12.00, for a total transaction of $1,198,673,568.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Holdings I/Ii Gp L. Blackstone sold 28,562,652 shares of the stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $8.71, for a total value of $248,780,698.92. Following the completion of the transaction, the insider now owns 57,028 shares of the company’s stock, valued at $496,713.88. The disclosure for this sale can be found here. In the last quarter, insiders have sold 140,532,616 shares of company stock worth $1,726,902,967. Corporate insiders own 1.00% of the company’s stock.

Blackstone Profile

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Blackstone, Inc engages in the provision of investment and fund management services. It operates through the following segments: Real Estate, Private Equity, Credit and Insurance, and Hedge Fund Solutions. The Real Estate segment includes management of opportunistic real estate funds, Core+ real estate funds, high-yield real estate debt funds, and liquid real estate debt funds.