Deutsche Bank AG boosted its holdings in Blackstone Inc. (NYSE:BX - Free Report) by 9.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,410,552 shares of the asset manager's stock after buying an additional 123,153 shares during the period. Deutsche Bank AG owned 0.20% of Blackstone worth $243,207,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Principal Financial Group Inc. grew its position in shares of Blackstone by 6.1% during the third quarter. Principal Financial Group Inc. now owns 909,698 shares of the asset manager's stock valued at $139,302,000 after purchasing an additional 51,897 shares in the last quarter. Nordea Investment Management AB grew its position in shares of Blackstone by 8.8% during the fourth quarter. Nordea Investment Management AB now owns 58,229 shares of the asset manager's stock valued at $10,053,000 after purchasing an additional 4,688 shares in the last quarter. Diversified Trust Co grew its position in shares of Blackstone by 8.3% during the fourth quarter. Diversified Trust Co now owns 9,534 shares of the asset manager's stock valued at $1,644,000 after purchasing an additional 730 shares in the last quarter. Fulton Bank N.A. grew its position in shares of Blackstone by 0.9% during the fourth quarter. Fulton Bank N.A. now owns 11,202 shares of the asset manager's stock valued at $1,931,000 after purchasing an additional 103 shares in the last quarter. Finally, ORG Partners LLC lifted its holdings in shares of Blackstone by 232.1% in the 4th quarter. ORG Partners LLC now owns 279 shares of the asset manager's stock valued at $48,000 after acquiring an additional 195 shares during the last quarter. Hedge funds and other institutional investors own 70.00% of the company's stock.
Insider Activity at Blackstone
In other news, Director Ruth Porat purchased 301 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were acquired at an average cost of $164.85 per share, with a total value of $49,619.85. Following the completion of the acquisition, the director now owns 36,829 shares of the company's stock, valued at $6,071,260.65. This trade represents a 0.82% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Private Credit Stra Blackstone purchased 1,660,000 shares of the business's stock in a transaction on Thursday, May 1st. The stock was purchased at an average cost of $15.00 per share, for a total transaction of $24,900,000.00. Following the completion of the acquisition, the insider now directly owns 1,666,667 shares of the company's stock, valued at approximately $25,000,005. The trade was a 24,898.76% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 1,660,538 shares of company stock valued at $24,981,930 over the last ninety days. 1.00% of the stock is owned by company insiders.
Blackstone Stock Up 6.9%
BX stock traded up $9.61 during trading on Monday, hitting $149.00. 6,667,747 shares of the company's stock traded hands, compared to its average volume of 3,776,768. The firm has a market capitalization of $108.72 billion, a P/E ratio of 41.05, a PEG ratio of 1.07 and a beta of 1.67. The business has a fifty day simple moving average of $136.87 and a two-hundred day simple moving average of $162.18. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. Blackstone Inc. has a 1 year low of $115.66 and a 1 year high of $200.96.
Blackstone (NYSE:BX - Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The asset manager reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by ($0.13). The business had revenue of $2.76 billion for the quarter, compared to analysts' expectations of $2.95 billion. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. During the same period in the previous year, the business earned $0.98 earnings per share. Sell-side analysts anticipate that Blackstone Inc. will post 5.87 EPS for the current year.
Blackstone Cuts Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Monday, April 28th were issued a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 2.50%. The ex-dividend date of this dividend was Monday, April 28th. Blackstone's payout ratio is 112.05%.
Analyst Upgrades and Downgrades
A number of research analysts recently commented on BX shares. Wells Fargo & Company lowered their price target on shares of Blackstone from $160.00 to $139.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. Morgan Stanley lowered their price target on shares of Blackstone from $222.00 to $150.00 and set an "overweight" rating for the company in a report on Monday, April 14th. JPMorgan Chase & Co. increased their price target on shares of Blackstone from $149.00 to $154.00 and gave the company a "neutral" rating in a report on Friday, January 31st. StockNews.com downgraded shares of Blackstone from a "buy" rating to a "hold" rating in a report on Friday, January 31st. Finally, TD Cowen decreased their price objective on shares of Blackstone from $233.00 to $147.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $154.82.
Check Out Our Latest Stock Report on Blackstone
About Blackstone
(
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.
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