Blackstone Inc. $BX Shares Purchased by Whittier Trust Co.

by · The Cerbat Gem

Whittier Trust Co. raised its position in Blackstone Inc. (NYSE:BX – Free Report) by 42.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 504,190 shares of the asset manager’s stock after acquiring an additional 150,001 shares during the quarter. Whittier Trust Co. owned 0.07% of Blackstone worth $56,590,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Family CFO Inc acquired a new position in Blackstone in the 4th quarter worth $28,000. Ares Financial Consulting LLC purchased a new stake in shares of Blackstone during the fourth quarter worth about $28,000. Richardson Financial Services Inc. purchased a new position in Blackstone in the fourth quarter valued at about $29,000. Strive Asset Management LLC acquired a new stake in Blackstone during the 3rd quarter valued at approximately $30,000. Finally, Palladiem LLC acquired a new position in shares of Blackstone in the 4th quarter valued at approximately $31,000. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Blackstone news, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,500 shares of the firm’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $3.78, for a total value of $28,264,950.00. Following the sale, the insider directly owned 19,374 shares in the company, valued at approximately $73,233.72. This trade represents a 99.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Vikrant Sawhney sold 30,014 shares of the company’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $125.79, for a total transaction of $3,775,461.06. Following the transaction, the insider owned 899,669 shares of the company’s stock, valued at $113,169,363.51. This represents a 3.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders purchased a total of 10,252,345 shares of company stock valued at $209,789,893 in the last three months. 1.00% of the stock is owned by corporate insiders.

Blackstone Trading Down 0.0%

NYSE BX opened at $122.73 on Monday. The firm has a market capitalization of $91.17 billion, a PE ratio of 31.39, a price-to-earnings-growth ratio of 1.33 and a beta of 1.58. Blackstone Inc. has a one year low of $101.73 and a one year high of $190.09. The company has a 50-day simple moving average of $119.67 and a 200-day simple moving average of $127.87. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.76 and a current ratio of 0.76.

Blackstone (NYSE:BX – Get Free Report) last issued its 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. The firm had revenue of $3.43 billion for the quarter, compared to analysts’ expectations of $3.45 billion. Blackstone had a net margin of 20.67% and a return on equity of 22.86%. Blackstone’s revenue was up 10.0% on a year-over-year basis. During the same quarter last year, the company posted $1.11 earnings per share. On average, equities analysts forecast that Blackstone Inc. will post 5.9 earnings per share for the current year.

Blackstone Cuts Dividend

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

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Barclays decreased their price target on shares of Blackstone from $126.00 to $124.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 8th. Zacks Research upgraded shares of Blackstone from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. BNP Paribas Exane dropped their target price on shares of Blackstone from $126.00 to $125.00 and set a “neutral” rating for the company in a research report on Tuesday, June 30th. Deutsche Bank Aktiengesellschaft began coverage on shares of Blackstone in a research report on Monday, June 8th. They set a “buy” rating on the stock. Finally, Argus lowered their price objective on Blackstone from $163.00 to $146.00 and set a “buy” rating for the company in a report on Tuesday, April 28th. Thirteen research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Blackstone currently has a consensus rating of “Moderate Buy” and an average target price of $149.36.

Get Our Latest Research Report on BX

Blackstone Company Profile

(Free Report)

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.

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