Blackstone Inc. (NYSE:BX) Holdings Raised by Integrated Advisors Network LLC

Integrated Advisors Network LLC boosted its stake in Blackstone Inc. (NYSE:BXGet Rating) by 113.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 71,718 shares of the asset manager’s stock after buying an additional 38,127 shares during the quarter. Integrated Advisors Network LLC’s holdings in Blackstone were worth $6,543,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BX. Vanguard Group Inc. raised its holdings in shares of Blackstone by 12.6% during the 1st quarter. Vanguard Group Inc. now owns 44,984,296 shares of the asset manager’s stock valued at $5,710,306,000 after purchasing an additional 5,048,383 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Blackstone by 4.8% during the 1st quarter. BlackRock Inc. now owns 38,236,401 shares of the asset manager’s stock valued at $4,853,728,000 after purchasing an additional 1,750,719 shares in the last quarter. State Street Corp raised its holdings in shares of Blackstone by 6.9% during the 1st quarter. State Street Corp now owns 16,487,151 shares of the asset manager’s stock valued at $2,092,879,000 after purchasing an additional 1,061,681 shares in the last quarter. Brown Advisory Inc. raised its holdings in shares of Blackstone by 15.8% during the 2nd quarter. Brown Advisory Inc. now owns 5,650,158 shares of the asset manager’s stock valued at $529,210,000 after purchasing an additional 772,925 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Blackstone by 8.6% during the 1st quarter. Northern Trust Corp now owns 5,041,373 shares of the asset manager’s stock valued at $639,952,000 after purchasing an additional 401,063 shares in the last quarter. Hedge funds and other institutional investors own 61.87% of the company’s stock.

Insider Activity at Blackstone

In other Blackstone news, major shareholder Holdings L.P. Blackstone III sold 12,154,671 shares of the stock in a transaction dated Thursday, November 17th. The shares were sold at an average price of $7.46, for a total transaction of $90,673,845.66. Following the sale, the insider now directly owns 295 shares in the company, valued at $2,200.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Blackstone news, major shareholder Holdings L.P. Blackstone III sold 12,154,671 shares of the stock in a transaction dated Thursday, November 17th. The shares were sold at an average price of $7.46, for a total transaction of $90,673,845.66. Following the sale, the insider now directly owns 295 shares in the company, valued at $2,200.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Altus Holdings Lp Gso sold 7,000,000 shares of the firm’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $11.01, for a total transaction of $77,070,000.00. Following the completion of the sale, the insider now owns 21,825,125 shares in the company, valued at $240,294,626.25. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,203,671 shares of company stock worth $207,047,536. Corporate insiders own 1.00% of the company’s stock.

Blackstone Trading Up 0.8 %

NYSE BX traded up $0.72 during trading on Thursday, reaching $88.52. 4,511,102 shares of the stock traded hands, compared to its average volume of 4,888,748. The firm has a market cap of $62.12 billion, a price-to-earnings ratio of 25.01, a price-to-earnings-growth ratio of 2.13 and a beta of 1.44. The stock’s 50-day moving average price is $90.02 and its 200 day moving average price is $97.30. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.52. Blackstone Inc. has a fifty-two week low of $79.54 and a fifty-two week high of $149.51.

Blackstone (NYSE:BXGet Rating) last issued its quarterly earnings data on Thursday, October 20th. The asset manager reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.09. The firm had revenue of $2.59 billion during the quarter, compared to analysts’ expectations of $2.52 billion. Blackstone had a net margin of 20.58% and a return on equity of 20.75%. The business’s revenue for the quarter was down 14.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.28 earnings per share. Analysts predict that Blackstone Inc. will post 5.15 EPS for the current year.

Blackstone Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 7th. Stockholders of record on Monday, October 31st were given a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 4.07%. The ex-dividend date was Friday, October 28th. Blackstone’s payout ratio is presently 101.70%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Barclays cut their price target on shares of Blackstone from $120.00 to $104.00 in a report on Monday, October 10th. Credit Suisse Group downgraded shares of Blackstone from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $85.50 to $67.50 in a report on Tuesday. Bank of America reiterated a “buy” rating and issued a $125.00 target price on shares of Blackstone in a report on Thursday, October 6th. The Goldman Sachs Group dropped their target price on shares of Blackstone from $117.00 to $101.00 and set a “buy” rating on the stock in a report on Monday, October 3rd. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Blackstone from $127.00 to $128.00 and gave the stock a “buy” rating in a report on Tuesday, November 15th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $113.10.

Blackstone Profile

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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.

Further Reading

Institutional Ownership by Quarter for Blackstone (NYSE:BX)

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