NuWave Investment Management LLC purchased a new position in Blackstone Inc. (NYSE:BX – Get Rating) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 1,878 shares of the asset manager’s stock, valued at approximately $238,000.
A number of other institutional investors have also modified their holdings of BX. Dark Forest Capital Management LP bought a new stake in Blackstone in the third quarter worth about $87,000. Thrivent Financial for Lutherans raised its position in Blackstone by 2.6% in the third quarter. Thrivent Financial for Lutherans now owns 7,200 shares of the asset manager’s stock worth $837,000 after acquiring an additional 184 shares in the last quarter. Voss Capital LLC raised its position in Blackstone by 5.8% in the third quarter. Voss Capital LLC now owns 63,500 shares of the asset manager’s stock worth $7,387,000 after acquiring an additional 3,500 shares in the last quarter. Atria Investments LLC raised its position in Blackstone by 22.1% in the third quarter. Atria Investments LLC now owns 29,044 shares of the asset manager’s stock worth $3,379,000 after acquiring an additional 5,264 shares in the last quarter. Finally, EP Wealth Advisors LLC raised its holdings in Blackstone by 202.2% during the 3rd quarter. EP Wealth Advisors LLC now owns 26,880 shares of the asset manager’s stock worth $1,038,000 after buying an additional 17,984 shares during the period. Hedge funds and other institutional investors own 63.68% of the company’s stock.
Several analysts have issued reports on BX shares. BMO Capital Markets boosted their price objective on Blackstone from $124.00 to $142.00 and gave the stock an “outperform” rating in a report on Friday, April 22nd. Jefferies Financial Group restated a “buy” rating and set a $155.00 price objective on shares of Blackstone in a report on Wednesday, April 13th. StockNews.com started coverage on Blackstone in a report on Thursday, March 31st. They set a “hold” rating on the stock. Bank of America boosted their price objective on Blackstone from $172.00 to $180.00 and gave the stock a “buy” rating in a report on Friday, April 22nd. Finally, Exane BNP Paribas downgraded Blackstone from an “outperform” rating to a “neutral” rating in a report on Thursday, April 7th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $141.00.
Blackstone (NYSE:BX – Get Rating) last announced its quarterly earnings results on Thursday, April 21st. The asset manager reported $1.55 EPS for the quarter, beating the consensus estimate of $1.08 by $0.47. The business had revenue of $5.13 billion during the quarter, compared to analysts’ expectations of $2.54 billion. Blackstone had a return on equity of 18.77% and a net margin of 23.77%. The firm’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.96 EPS. Equities research analysts expect that Blackstone Inc. will post 5.71 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, May 9th. Investors of record on Monday, May 2nd were paid a $1.32 dividend. This is a boost from Blackstone’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend was Friday, April 29th. This represents a $5.28 annualized dividend and a dividend yield of 5.79%. Blackstone’s payout ratio is presently 71.93%.
In related news, Director Ruth Porat bought 5,000 shares of the firm’s stock in a transaction on Wednesday, April 27th. The stock was purchased at an average price of $109.69 per share, with a total value of $548,450.00. Following the completion of the transaction, the director now directly owns 15,942 shares of the company’s stock, valued at $1,748,677.98. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Holdings L.P. Blackstone III sold 25,200 shares of the company’s stock in a transaction that occurred on Friday, April 1st. The stock was sold at an average price of $61.38, for a total value of $1,546,776.00. The disclosure for this sale can be found here. In the last three months, insiders purchased 2,514,376 shares of company stock valued at $11,553,227 and sold 669,650 shares valued at $37,169,012. Insiders own 1.00% of the company’s stock.
Blackstone Profile (Get Rating)
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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