Keybank National Association OH Has $2.98 Million Position in Blackstone Inc. $BX

Keybank National Association OH raised its stake in Blackstone Inc. (NYSE:BX) by 35.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,928 shares of the asset manager’s stock after acquiring an additional 6,747 shares during the period. Keybank National Association OH’s holdings in Blackstone were worth $2,981,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of BX. Randolph Co Inc grew its stake in Blackstone by 0.9% during the first quarter. Randolph Co Inc now owns 329,389 shares of the asset manager’s stock worth $37,876,000 after buying an additional 2,989 shares in the last quarter. Stock Yards Bank & Trust Co. boosted its position in shares of Blackstone by 49.4% during the 1st quarter. Stock Yards Bank & Trust Co. now owns 37,001 shares of the asset manager’s stock worth $4,255,000 after acquiring an additional 12,232 shares in the last quarter. Canton Hathaway LLC increased its stake in Blackstone by 4.9% in the first quarter. Canton Hathaway LLC now owns 17,152 shares of the asset manager’s stock valued at $1,972,000 after acquiring an additional 800 shares during the last quarter. Cane Capital Partners LLC bought a new stake in Blackstone during the first quarter worth $724,000. Finally, Essex LLC boosted its holdings in shares of Blackstone by 66.0% in the 1st quarter. Essex LLC now owns 4,171 shares of the asset manager’s stock valued at $480,000 after purchasing an additional 1,659 shares in the last quarter. Institutional investors own 70.00% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on BX shares. Citizens Jmp dropped their price objective on Blackstone from $195.00 to $190.00 and set a “market outperform” rating for the company in a research report on Wednesday, April 22nd. Argus lowered their target price on Blackstone from $163.00 to $146.00 and set a “buy” rating for the company in a research note on Tuesday, April 28th. BMO Capital Markets raised their price target on shares of Blackstone from $126.00 to $132.00 and gave the company an “outperform” rating in a research note on Monday, April 13th. HSBC dropped their price objective on shares of Blackstone from $164.00 to $131.00 and set a “hold” rating for the company in a research note on Friday, April 10th. Finally, Dbs Bank raised shares of Blackstone to a “moderate buy” rating in a research note on Wednesday, May 27th. Thirteen analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $149.36.

Blackstone Price Performance

Blackstone stock opened at $122.73 on Monday. The firm has a market cap of $91.17 billion, a P/E ratio of 31.39, a P/E/G ratio of 1.33 and a beta of 1.58. The stock’s 50 day moving average is $119.67 and its 200 day moving average is $127.87. 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 one year low of $101.73 and a one year high of $190.09.

Blackstone (NYSE:BX) last issued its quarterly earnings results on Thursday, April 23rd. The asset manager reported $1.36 earnings per share (EPS) 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 firm had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.45 billion. During the same quarter in the previous year, the company earned $1.11 EPS. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. As a group, research analysts expect that Blackstone Inc. will post 5.9 EPS for the current year.

Blackstone Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 11th. Stockholders of record on Monday, May 4th were paid a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend was Monday, May 4th. Blackstone’s payout ratio is currently 118.67%.

Insider Buying and Selling at Blackstone

In other news, major shareholder Private Multi-Asset Blackstone purchased 765,111 shares of the business’s stock in a transaction on Tuesday, June 23rd. The shares were acquired at an average price of $26.14 per share, for a total transaction of $20,000,001.54. Following the completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Treasury Holdings I. Blackstone purchased 9,486,795 shares of Blackstone stock in a transaction that occurred on Friday, May 15th. The stock was acquired at an average cost of $20.00 per share, with a total value of $189,735,900.00. Following the transaction, the insider owned 9,111,800 shares in the company, valued at $182,236,000. This trade represents a -2,529.85% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 10,252,345 shares of company stock valued at $209,789,893 over the last ninety days. Insiders own 1.00% of the company’s stock.

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.