State of Alaska Department of Revenue lifted its holdings in Blackstone Inc. (NYSE:BX – Free Report) by 0.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 36,311 shares of the asset manager’s stock after purchasing an additional 180 shares during the quarter. State of Alaska Department of Revenue’s holdings in Blackstone were worth $3,189,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Blackstone by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 46,339,020 shares of the asset manager’s stock valued at $3,878,576,000 after acquiring an additional 581,545 shares during the last quarter. Morgan Stanley raised its holdings in Blackstone by 3.7% during the 4th quarter. Morgan Stanley now owns 22,495,670 shares of the asset manager’s stock valued at $1,668,954,000 after buying an additional 798,734 shares during the period. Edgewood Management LLC grew its holdings in Blackstone by 4.7% during the 4th quarter. Edgewood Management LLC now owns 11,424,857 shares of the asset manager’s stock valued at $847,610,000 after purchasing an additional 509,348 shares during the last quarter. CIBC Private Wealth Group LLC grew its holdings in Blackstone by 0.9% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 7,221,107 shares of the asset manager’s stock valued at $604,405,000 after purchasing an additional 66,646 shares during the last quarter. Finally, Norges Bank bought a new position in Blackstone during the 4th quarter valued at about $510,355,000. 63.65% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In related news, major shareholder Holdings L.P. Blackstone III sold 34,000 shares of Blackstone stock in a transaction that occurred on Monday, April 10th. The shares were sold at an average price of $30.15, for a total value of $1,025,100.00. Following the completion of the sale, the insider now directly owns 9,808,228 shares in the company, valued at approximately $295,718,074.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, major shareholder Holdings L.P. Blackstone III sold 34,000 shares of the firm’s stock in a transaction on Monday, April 10th. The stock was sold at an average price of $30.15, for a total value of $1,025,100.00. Following the completion of the transaction, the insider now owns 9,808,228 shares in the company, valued at approximately $295,718,074.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Altus Holdings Lp Gso purchased 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 6th. The stock was acquired at an average price of $5.17 per share, for a total transaction of $77,550.00. Following the acquisition, the insider now owns 20,790,125 shares in the company, valued at approximately $107,484,946.25. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 117,282 shares of company stock worth $646,274 and have sold 3,430,100 shares worth $43,380,183. Corporate insiders own 1.00% of the company’s stock.
Analyst Upgrades and Downgrades
Blackstone Stock Up 0.2 %
Blackstone stock opened at $92.97 on Friday. The firm has a market cap of $65.65 billion, a P/E ratio of 113.38, a P/E/G ratio of 1.47 and a beta of 1.50. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.72. The business has a fifty day moving average of $86.66 and a two-hundred day moving average of $86.13. Blackstone Inc. has a twelve month low of $71.72 and a twelve month high of $110.89.
Blackstone (NYSE:BX – Free Report) last announced its earnings results on Thursday, April 20th. The asset manager reported $0.97 EPS for the quarter, hitting analysts’ consensus estimates of $0.97. The business had revenue of $1.38 billion during 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%. The firm’s revenue was down 73.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.55 earnings per share. On average, analysts forecast that Blackstone Inc. will post 4.3 earnings per share for the current fiscal year.
Blackstone Cuts Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, May 8th. Shareholders of record on Monday, May 1st were issued a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 3.53%. The ex-dividend date of this dividend was Friday, April 28th. Blackstone’s dividend payout ratio is presently 400.00%.
Blackstone Profile
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 provide capital markets services.
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