Thompson Investment Management Inc. Invests $61,000 in Blackstone Inc. (NYSE:BX)

Posted by Defense World Staff on Jul 9th, 2023

Thompson Investment Management Inc. purchased a new position in shares of Blackstone Inc. (NYSE:BX – Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 700 shares of the asset manager’s stock, valued at approximately $61,000.

Several other large investors also recently made changes to their positions in the stock. Fairfield Bush & CO. boosted its stake in Blackstone by 56.1% during the 1st quarter. Fairfield Bush & CO. now owns 4,255 shares of the asset manager’s stock valued at $540,000 after purchasing an additional 1,530 shares during the period. United Bank boosted its stake in Blackstone by 34.2% during the 1st quarter. United Bank now owns 8,441 shares of the asset manager’s stock valued at $1,072,000 after purchasing an additional 2,153 shares during the period. Yousif Capital Management LLC boosted its stake in Blackstone by 10.4% during the 1st quarter. Yousif Capital Management LLC now owns 10,969 shares of the asset manager’s stock valued at $1,392,000 after purchasing an additional 1,034 shares during the period. Insight Advisors LLC PA boosted its stake in Blackstone by 1.6% during the 1st quarter. Insight Advisors LLC PA now owns 18,446 shares of the asset manager’s stock valued at $2,341,000 after purchasing an additional 286 shares during the period. Finally, Candriam Luxembourg S.C.A. boosted its stake in Blackstone by 12.8% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 38,429 shares of the asset manager’s stock valued at $4,878,000 after purchasing an additional 4,366 shares during the period. Institutional investors own 63.65% of the company’s stock.

Blackstone Stock Down 0.1 %

NYSE:BX opened at $91.91 on Friday. Blackstone Inc. has a 12-month low of $71.72 and a 12-month high of $110.89. 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 firm has a market capitalization of $64.90 billion, a P/E ratio of 112.09, a P/E/G ratio of 1.48 and a beta of 1.49. The stock’s fifty day simple moving average is $87.26 and its 200-day simple moving average is $86.75.

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

Blackstone Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 8th. Shareholders of record on Monday, May 1st were issued a dividend of $0.82 per share. The ex-dividend date was Friday, April 28th. This represents a $3.28 annualized dividend and a yield of 3.57%. Blackstone’s dividend payout ratio is presently 400.00%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on BX shares. Deutsche Bank Aktiengesellschaft upped their price target on Blackstone from $102.00 to $103.00 and gave the company a “buy” rating in a report on Friday, April 21st. Credit Suisse Group cut their price target on Blackstone from $74.00 to $70.50 and set an “underperform” rating for the company in a report on Friday, April 21st. StockNews.com initiated coverage on Blackstone in a report on Thursday, May 18th. They issued a “sell” rating for the company. Evercore ISI increased their target price on Blackstone from $100.00 to $105.00 in a report on Friday, April 21st. Finally, Wells Fargo & Company increased their target price on Blackstone from $100.00 to $101.00 and gave the stock an “overweight” rating in a report on Friday, April 21st. Two research analysts have rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $102.70.

Insiders Place Their Bets

In other Blackstone news, Director Joseph Baratta sold 85,000 shares of Blackstone stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $93.08, for a total value of $7,911,800.00. Following the sale, the director now owns 1,060,448 shares of the company’s stock, valued at approximately $98,706,499.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Blackstone news, Director Joseph Baratta sold 85,000 shares of Blackstone stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $93.08, for a total value of $7,911,800.00. Following the sale, the director now owns 1,060,448 shares of the company’s stock, valued at approximately $98,706,499.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Multi-Asset Direct Blackstone sold 3,000,000 shares of Blackstone stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $8.50, for a total value of $25,500,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 117,282 shares of company stock worth $646,274 and have sold 3,430,100 shares worth $43,954,783. Corporate insiders own 1.00% of the company’s stock.

Blackstone Company Profile

(Free Report)

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.