Blackstone Inc. $BX Shares Acquired by Greenup Street Wealth Management LLC

Greenup Street Wealth Management LLC increased its position in Blackstone Inc. (NYSE:BX) by 47.0% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 20,496 shares of the asset manager’s stock after buying an additional 6,556 shares during the period. Greenup Street Wealth Management LLC’s holdings in Blackstone were worth $2,357,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Jain Global LLC purchased a new stake in Blackstone during the 3rd quarter worth $9,116,000. Fayez Sarofim & Co grew its stake in shares of Blackstone by 1.9% during the third quarter. Fayez Sarofim & Co now owns 1,270,608 shares of the asset manager’s stock valued at $217,083,000 after acquiring an additional 24,237 shares in the last quarter. Natixis Advisors LLC increased its position in shares of Blackstone by 20.4% during the third quarter. Natixis Advisors LLC now owns 840,401 shares of the asset manager’s stock worth $143,582,000 after acquiring an additional 142,479 shares during the last quarter. Close Asset Management Ltd boosted its holdings in Blackstone by 16,035.1% in the third quarter. Close Asset Management Ltd now owns 1,140,264 shares of the asset manager’s stock valued at $194,746,000 after purchasing an additional 1,133,197 shares during the last quarter. Finally, Mackenzie Financial Corp grew its stake in Blackstone by 2.1% during the 3rd quarter. Mackenzie Financial Corp now owns 904,237 shares of the asset manager’s stock valued at $154,489,000 after purchasing an additional 18,339 shares in the last quarter. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on BX shares. Deutsche Bank Aktiengesellschaft initiated coverage on Blackstone in a research note on Monday, June 8th. They set a “buy” rating for the company. Zacks Research raised shares of Blackstone from a “strong sell” rating to a “hold” rating in a report on Monday, June 8th. Rothschild & Co Redburn decreased their price objective on shares of Blackstone from $134.00 to $130.00 and set a “neutral” rating for the company in a report on Tuesday, June 9th. Piper Sandler boosted their target price on shares of Blackstone from $122.00 to $130.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th. Finally, BMO Capital Markets increased their price target on shares of Blackstone from $126.00 to $132.00 and gave the stock an “outperform” rating in a research report on Monday, April 13th. Thirteen analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $150.86.

Insider Buying and Selling

In other news, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,500 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $3.78, for a total transaction of $28,264,950.00. Following the completion of the transaction, the insider directly owned 19,374 shares of the company’s stock, valued at approximately $73,233.72. This represents a 99.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Private Multi-Asset Blackstone purchased 765,111 shares of the business’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was bought at an average cost of $26.14 per share, for a total transaction of $20,000,001.54. Following the acquisition, the insider owned 7,882,145 shares in the company, valued at approximately $206,039,270.30. The trade was a 10.75% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 10,252,345 shares of company stock valued at $209,789,893 over the last 90 days. 1.00% of the stock is owned by corporate insiders.

Blackstone Stock Performance

Shares of BX opened at $112.90 on Thursday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.76 and a quick ratio of 0.76. Blackstone Inc. has a 12-month low of $101.73 and a 12-month high of $190.09. The business’s fifty day moving average price is $121.16 and its 200 day moving average price is $129.59. The stock has a market capitalization of $83.87 billion, a PE ratio of 28.87, a price-to-earnings-growth ratio of 1.30 and a beta of 1.59.

Blackstone (NYSE:BX) last issued its earnings results on Thursday, April 23rd. The asset manager reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.02. Blackstone had a net margin of 20.67% and a return on equity of 22.86%. The company had revenue of $3.43 billion for the quarter, compared to analysts’ expectations of $3.45 billion. During the same period in the prior year, the company earned $1.11 earnings per share. The firm’s revenue was up 10.0% compared to the same quarter last year. Equities research analysts forecast that Blackstone Inc. will post 5.9 EPS for the current year.

Blackstone Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 11th. Shareholders of record on Monday, May 4th were issued a $1.16 dividend. The ex-dividend date of this dividend was Monday, May 4th. This represents a $4.64 dividend on an annualized basis and a yield of 4.1%. Blackstone’s dividend payout ratio (DPR) is currently 118.67%.

Blackstone 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.