Blackstone Inc. $BX Holdings Lowered by Rheos Capital Works Inc.

Rheos Capital Works Inc. trimmed its stake in shares of Blackstone Inc. (NYSE:BX) by 13.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 68,500 shares of the asset manager’s stock after selling 11,000 shares during the period. Rheos Capital Works Inc.’s holdings in Blackstone were worth $10,559,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. StrongBox Wealth LLC lifted its stake in Blackstone by 4.5% in the 4th quarter. StrongBox Wealth LLC now owns 22,298 shares of the asset manager’s stock worth $3,437,000 after acquiring an additional 970 shares in the last quarter. Country Trust Bank lifted its stake in Blackstone by 33.3% in the 4th quarter. Country Trust Bank now owns 271,880 shares of the asset manager’s stock worth $41,908,000 after acquiring an additional 67,847 shares in the last quarter. Lakeshore Capital Group Inc. lifted its stake in Blackstone by 2.2% in the 4th quarter. Lakeshore Capital Group Inc. now owns 4,820 shares of the asset manager’s stock worth $743,000 after acquiring an additional 102 shares in the last quarter. Jmac Enterprises LLC lifted its stake in Blackstone by 9.2% in the 4th quarter. Jmac Enterprises LLC now owns 9,500 shares of the asset manager’s stock worth $1,464,000 after acquiring an additional 800 shares in the last quarter. Finally, Kaizen Financial Strategies lifted its stake in Blackstone by 0.8% in the 4th quarter. Kaizen Financial Strategies now owns 27,127 shares of the asset manager’s stock worth $4,181,000 after acquiring an additional 219 shares in the last quarter. 70.00% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of the stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $10.00, for a total transaction of $15,961,420.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Holdings Iv Gp Mana Blackstone bought 2,868,069 shares of the firm’s stock in a transaction that occurred on Friday, March 20th. The shares were acquired at an average price of $26.15 per share, with a total value of $75,000,004.35. Following the purchase, the insider owned 18,628,295 shares in the company, valued at $487,129,914.25. This trade represents a 18.20% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 1.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Barclays reduced their price objective on Blackstone from $164.00 to $126.00 and set an “equal weight” rating for the company in a research note on Monday, March 2nd. Citizens Jmp reissued a “market outperform” rating and issued a $195.00 price objective on shares of Blackstone in a research note on Friday, January 30th. Citigroup reaffirmed a “market outperform” rating on shares of Blackstone in a research report on Friday, January 30th. Bank of America dropped their target price on Blackstone from $199.00 to $189.00 in a research report on Wednesday, December 10th. Finally, Argus dropped their target price on Blackstone from $195.00 to $163.00 and set a “buy” rating on the stock in a research report on Wednesday, February 4th. Ten investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat, Blackstone has a consensus rating of “Hold” and an average price target of $162.10.

Blackstone Stock Performance

Shares of BX stock opened at $112.27 on Tuesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.76 and a quick ratio of 0.76. The firm has a market cap of $83.32 billion, a P/E ratio of 28.94, a PEG ratio of 0.90 and a beta of 1.74. The stock’s 50-day moving average is $120.12 and its two-hundred day moving average is $142.94. Blackstone Inc. has a fifty-two week low of $101.73 and a fifty-two week high of $190.09.

Blackstone (NYSE:BX) last issued its quarterly earnings data on Thursday, January 29th. The asset manager reported $1.75 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.21. The business had revenue of $4.36 billion for the quarter, compared to analyst estimates of $3.69 billion. Blackstone had a return on equity of 22.17% and a net margin of 20.89%.The firm’s revenue for the quarter was up 41.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.69 EPS. Analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 17th. Stockholders of record on Monday, February 9th were issued a dividend of $1.49 per share. The ex-dividend date of this dividend was Monday, February 9th. This represents a $5.96 dividend on an annualized basis and a dividend yield of 5.3%. This is a positive change from Blackstone’s previous quarterly dividend of $1.29. Blackstone’s payout ratio is currently 153.61%.

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.