Blackstone Inc. (NYSE:BX) Shares Sold by Alerus Financial NA

Posted by on Jun 13th, 2023

Alerus Financial NA lessened its stake in Blackstone Inc. (NYSE:BX – Get Rating) by 89.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,908 shares of the asset manager’s stock after selling 57,273 shares during the period. Alerus Financial NA’s holdings in Blackstone were worth $513,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of BX. 1620 Investment Advisors Inc. raised its holdings in shares of Blackstone by 2.1% in the third quarter. 1620 Investment Advisors Inc. now owns 4,799 shares of the asset manager’s stock valued at $402,000 after buying an additional 100 shares during the last quarter. Obermeyer Wood Investment Counsel Lllp raised its holdings in shares of Blackstone by 2.5% in the fourth quarter. Obermeyer Wood Investment Counsel Lllp now owns 4,493 shares of the asset manager’s stock valued at $334,000 after buying an additional 111 shares during the last quarter. RKL Wealth Management LLC raised its holdings in shares of Blackstone by 0.5% in the fourth quarter. RKL Wealth Management LLC now owns 25,023 shares of the asset manager’s stock valued at $1,857,000 after buying an additional 117 shares during the last quarter. Strategic Blueprint LLC raised its holdings in shares of Blackstone by 1.6% in the fourth quarter. Strategic Blueprint LLC now owns 7,504 shares of the asset manager’s stock valued at $557,000 after buying an additional 118 shares during the last quarter. Finally, Verus Capital Partners LLC raised its holdings in Blackstone by 2.3% during the third quarter. Verus Capital Partners LLC now owns 5,445 shares of the asset manager’s stock worth $456,000 after purchasing an additional 120 shares in the last quarter. Institutional investors and hedge funds own 62.39% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder Altus Holdings Lp Gso purchased 57,000 shares of the business’s stock in a transaction on Thursday, June 8th. The shares were bought at an average price of $5.25 per share, with a total value of $299,250.00. Following the completion of the purchase, the insider now directly owns 21,071,125 shares in the company, valued at approximately $110,623,406.25. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Blackstone news, major shareholder Holdings L.P. Blackstone III bought 27,082 shares of the business’s stock in a transaction dated Wednesday, March 29th. The shares were acquired at an average price of $47.11 per share, with a total value of $1,275,833.02. Following the purchase, the insider now owns 18,535 shares in the company, valued at approximately $873,183.85. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Altus Holdings Lp Gso purchased 57,000 shares of the company’s stock in a transaction that occurred on Thursday, June 8th. The shares were purchased at an average cost of $5.25 per share, for a total transaction of $299,250.00. Following the purchase, the insider now directly owns 21,071,125 shares in the company, valued at $110,623,406.25. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 11,022,343 shares of company stock valued at $19,118,535 and have sold 430,100 shares valued at $17,880,183. 1.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on BX shares. Bank of America increased their price target on shares of Blackstone from $98.00 to $109.00 and gave the stock a “buy” rating in a report on Friday, April 21st. Evercore ISI increased their price target on shares of Blackstone from $100.00 to $105.00 in a report on Friday, April 21st. Piper Sandler cut their price target on shares of Blackstone from $111.00 to $107.00 and set an “overweight” rating for the company in a report on Friday, April 21st. TheStreet cut shares of Blackstone from a “b-” rating to a “c+” rating in a report on Tuesday, May 9th. Finally, Oppenheimer dropped their target price on shares of Blackstone from $111.00 to $106.00 and set an “outperform” rating for the company in a report on Friday, April 21st. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Blackstone has a consensus rating of “Moderate Buy” and an average price target of $102.70.

Blackstone Stock Up 2.0 %

Shares of NYSE BX opened at $89.97 on Tuesday. Blackstone Inc. has a 1 year low of $71.72 and a 1 year high of $110.89. The firm’s 50 day moving average price is $85.20 and its 200 day moving average price is $85.48. The firm has a market cap of $63.53 billion, a P/E ratio of 109.72, a price-to-earnings-growth ratio of 1.42 and a beta of 1.50. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.89 and a current ratio of 0.89.

Blackstone (NYSE:BX – Get Rating) last posted its quarterly earnings results on Thursday, April 20th. The asset manager reported $0.97 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.97. The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $2.44 billion. Blackstone had a net margin of 12.92% and a return on equity of 18.51%. Blackstone’s revenue was down 73.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.55 earnings per share. As a group, sell-side analysts anticipate that Blackstone Inc. will post 4.3 earnings per share for the current year.

Blackstone Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 8th. Shareholders of record on Monday, May 1st were paid a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date of this dividend was Friday, April 28th. Blackstone’s dividend payout ratio is currently 400.00%.

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.

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Institutional Ownership by Quarter for Blackstone (NYSE:BX)

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