Czech National Bank Grows Position in Blackstone Inc. $BX

by · The Markets Daily

Czech National Bank grew its stake in shares of Blackstone Inc. (NYSE:BXFree Report) by 6.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 178,351 shares of the asset manager’s stock after buying an additional 10,239 shares during the period. Czech National Bank’s holdings in Blackstone were worth $26,678,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of BX. Illinois Municipal Retirement Fund grew its position in shares of Blackstone by 105.4% in the first quarter. Illinois Municipal Retirement Fund now owns 13,405 shares of the asset manager’s stock valued at $1,874,000 after purchasing an additional 6,878 shares during the period. Parallel Advisors LLC grew its position in shares of Blackstone by 6.6% in the first quarter. Parallel Advisors LLC now owns 31,212 shares of the asset manager’s stock valued at $4,363,000 after purchasing an additional 1,943 shares during the period. Comprehensive Money Management Services LLC purchased a new stake in shares of Blackstone in the fourth quarter valued at $1,747,000. Narwhal Capital Management grew its position in shares of Blackstone by 34.3% in the first quarter. Narwhal Capital Management now owns 64,614 shares of the asset manager’s stock valued at $9,032,000 after purchasing an additional 16,486 shares during the period. Finally, Edmond DE Rothschild Holding S.A. grew its position in shares of Blackstone by 14.5% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 14,708 shares of the asset manager’s stock valued at $2,056,000 after purchasing an additional 1,863 shares during the period. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Trading Up 1.4%

Shares of BX opened at $183.83 on Tuesday. The stock’s 50-day moving average is $170.65 and its two-hundred day moving average is $150.65. The stock has a market cap of $135.50 billion, a PE ratio of 49.42, a P/E/G ratio of 1.47 and a beta of 1.77. Blackstone Inc. has a 12 month low of $115.66 and a 12 month high of $200.96. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.74 and a quick ratio of 0.74.

Blackstone (NYSE:BXGet Free Report) last issued its quarterly earnings data on Thursday, July 24th. The asset manager reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.11. Blackstone had a return on equity of 20.47% and a net margin of 20.83%.The company had revenue of $3.07 billion for the quarter, compared to analysts’ expectations of $2.77 billion. During the same quarter in the previous year, the firm posted $0.98 earnings per share. The firm’s quarterly revenue was up 32.7% on a year-over-year basis. Equities analysts forecast that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 11th. Stockholders of record on Monday, August 4th were given a dividend of $1.03 per share. The ex-dividend date of this dividend was Monday, August 4th. This is a positive change from Blackstone’s previous quarterly dividend of $0.93. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.2%. Blackstone’s dividend payout ratio is presently 110.75%.

Wall Street Analysts Forecast Growth

BX has been the topic of a number of research analyst reports. Citigroup reiterated a “market perform” rating on shares of Blackstone in a report on Saturday, July 19th. The Goldman Sachs Group reiterated a “neutral” rating on shares of Blackstone in a report on Friday, July 25th. Deutsche Bank Aktiengesellschaft lifted their target price on Blackstone from $170.00 to $192.00 and gave the company a “buy” rating in a report on Friday, July 25th. Wells Fargo & Company lifted their target price on Blackstone from $153.00 to $167.00 and gave the company an “equal weight” rating in a report on Friday, July 11th. Finally, Piper Sandler boosted their price objective on Blackstone from $157.00 to $181.00 and gave the stock a “neutral” rating in a research note on Monday, July 28th. Nine equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, Blackstone currently has an average rating of “Moderate Buy” and a consensus price target of $172.38.

Get Our Latest Research Report on BX

Insider Buying and Selling at Blackstone

In other news, insider Vikrant Sawhney sold 50,850 shares of Blackstone stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $173.64, for a total transaction of $8,829,594.00. Following the sale, the insider directly owned 737,248 shares of the company’s stock, valued at approximately $128,015,742.72. The trade was a 6.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John G. Finley sold 21,500 shares of the business’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $171.46, for a total value of $3,686,390.00. Following the completion of the sale, the insider directly owned 453,836 shares of the company’s stock, valued at approximately $77,814,720.56. This represents a 4.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders bought 1,189,806 shares of company stock valued at $30,046,627 and sold 16,871,634 shares valued at $135,328,376. 1.00% of the stock is owned by insiders.

Blackstone Profile

(Free Report)

Blackstone Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, public debt and equity and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services.

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