Blackstone Inc. $BX Shares Acquired by NEOS Investment Management LLC

NEOS Investment Management LLC increased its holdings in shares of Blackstone Inc. (NYSE:BX) by 43.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 92,826 shares of the asset manager’s stock after acquiring an additional 28,339 shares during the quarter. NEOS Investment Management LLC’s holdings in Blackstone were worth $15,859,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. REAP Financial Group LLC acquired a new position in shares of Blackstone during the third quarter valued at $26,000. Traub Capital Management LLC bought a new stake in Blackstone in the 2nd quarter valued at about $27,000. Parvin Asset Management LLC bought a new position in Blackstone in the 2nd quarter worth about $35,000. Rexford Capital Inc. acquired a new stake in shares of Blackstone in the second quarter valued at approximately $35,000. Finally, Greykasell Wealth Strategies Inc. acquired a new position in shares of Blackstone during the third quarter worth approximately $45,000. 70.00% of the stock is owned by institutional investors.

Blackstone Price Performance

BX stock opened at $131.35 on Wednesday. The firm has a 50-day moving average of $149.21 and a two-hundred day moving average of $157.31. The firm has a market capitalization of $97.00 billion, a PE ratio of 33.85, a P/E/G ratio of 1.01 and a beta of 1.76. The company has a current ratio of 0.76, a quick ratio of 0.75 and a debt-to-equity ratio of 0.61. Blackstone Inc. has a one year low of $115.66 and a one year high of $190.09.

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

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 17th. Investors of record on Monday, February 9th were given a dividend of $1.49 per share. The ex-dividend date of this dividend was Monday, February 9th. This is a positive change from Blackstone’s previous quarterly dividend of $1.29. This represents a $5.96 annualized dividend and a yield of 4.5%. Blackstone’s payout ratio is presently 153.61%.

Insider Activity

In related news, major shareholder Holdings Iv Gp Mana Blackstone acquired 384,468 shares of the company’s stock in a transaction on Friday, December 19th. The shares were purchased at an average price of $26.01 per share, for a total transaction of $10,000,012.68. Following the purchase, the insider owned 16,525,117 shares in the company, valued at $429,818,293.17. This represents a 2.38% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of Blackstone stock in a transaction 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 sale, the insider directly owned 2,161 shares of the company’s stock, valued at $21,610. This trade represents a 99.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have weighed in on BX. BMO Capital Markets cut their target price on Blackstone from $180.00 to $165.00 and set an “outperform” rating on the stock in a research note on Monday, February 2nd. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Blackstone from $164.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday, December 17th. Weiss Ratings reissued a “hold (c)” rating on shares of Blackstone in a research note on Wednesday, January 21st. Argus decreased their price objective on shares of Blackstone from $195.00 to $163.00 and set a “buy” rating for the company in a report on Wednesday, February 4th. Finally, HSBC dropped their target price on Blackstone from $178.00 to $174.00 and set a “hold” rating on the stock in a report on Wednesday, January 28th. Ten analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Blackstone currently has an average rating of “Hold” and an average price target of $171.76.

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.