UniSuper Management Pty Ltd Buys 7,768 Shares of Blackstone Inc. $BX

UniSuper Management Pty Ltd boosted its stake in Blackstone Inc. (NYSE:BX) by 16.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,030 shares of the asset manager’s stock after acquiring an additional 7,768 shares during the period. UniSuper Management Pty Ltd’s holdings in Blackstone were worth $9,573,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BX. Vanguard Group Inc. lifted its holdings in Blackstone by 2.2% in the second quarter. Vanguard Group Inc. now owns 69,492,377 shares of the asset manager’s stock valued at $10,394,670,000 after buying an additional 1,494,796 shares during the period. Geode Capital Management LLC raised its position in shares of Blackstone by 1.4% in the 2nd quarter. Geode Capital Management LLC now owns 16,542,863 shares of the asset manager’s stock worth $2,462,706,000 after acquiring an additional 227,416 shares in the last quarter. Norges Bank bought a new stake in shares of Blackstone during the 2nd quarter valued at about $1,071,348,000. Legal & General Group Plc increased its holdings in Blackstone by 4.7% in the second quarter. Legal & General Group Plc now owns 4,532,941 shares of the asset manager’s stock worth $678,037,000 after purchasing an additional 202,245 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Blackstone by 0.9% in the second quarter. Charles Schwab Investment Management Inc. now owns 4,200,194 shares of the asset manager’s stock valued at $628,265,000 after buying an additional 37,327 shares during the period. Institutional investors and hedge funds own 70.00% of the company’s stock.

Analyst Ratings Changes

BX has been the subject of several research analyst reports. Citigroup lowered their price objective on shares of Blackstone from $185.00 to $170.00 and set a “neutral” rating for the company in a research note on Monday, October 13th. BNP Paribas Exane decreased their price target on shares of Blackstone from $167.00 to $156.00 and set a “neutral” rating for the company in a research note on Monday, January 12th. Piper Sandler reduced their target price on Blackstone from $173.00 to $168.00 and set a “neutral” rating for the company in a research note on Friday, October 24th. Rothschild & Co Redburn dropped their price target on Blackstone from $168.00 to $165.00 and set a “neutral” rating on the stock in a research note on Thursday, January 15th. Finally, Evercore ISI reduced their price objective on Blackstone from $197.00 to $180.00 and set an “outperform” rating for the company in a research note on Wednesday, October 22nd. Nine investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $177.25.

Insider Activity

In other Blackstone news, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of Blackstone stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $10.00, for a total transaction of $15,961,420.00. Following the transaction, the insider owned 2,161 shares of the company’s stock, valued at $21,610. This trade represents a 99.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ruth Porat purchased 324 shares of the firm’s stock in a transaction that occurred on Monday, November 10th. The shares were acquired at an average cost of $146.92 per share, with a total value of $47,602.08. Following the completion of the transaction, the director directly owned 39,077 shares of the company’s stock, valued at $5,741,192.84. The trade was a 0.84% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have purchased 797,148 shares of company stock worth $24,050,153. Company insiders own 1.00% of the company’s stock.

Blackstone Stock Performance

Shares of BX opened at $150.47 on Friday. Blackstone Inc. has a 52 week low of $115.66 and a 52 week high of $190.09. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 0.75. The stock has a 50 day moving average price of $152.31 and a two-hundred day moving average price of $161.36. The firm has a market capitalization of $111.11 billion, a P/E ratio of 42.99, a P/E/G ratio of 1.06 and a beta of 1.75.

Blackstone (NYSE:BX) last announced its earnings results on Thursday, October 23rd. The asset manager reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.29. Blackstone had a return on equity of 22.30% and a net margin of 20.56%.The company had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $3.14 billion. During the same quarter in the previous year, the firm earned $1.02 earnings per share. Blackstone’s quarterly revenue was down 15.7% on a year-over-year basis. Equities analysts forecast that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Company Profile

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.