Blackstone Inc. $BX Shares Acquired by Prospera Financial Services Inc

by · The Cerbat Gem

Prospera Financial Services Inc boosted its holdings in Blackstone Inc. (NYSE:BX – Free Report) by 0.3% during the 2nd quarter, Holdings Channel.com reports. The fund owned 237,895 shares of the asset manager’s stock after purchasing an additional 777 shares during the quarter. Blackstone accounts for about 0.7% of Prospera Financial Services Inc’s portfolio, making the stock its 25th biggest position. Prospera Financial Services Inc’s holdings in Blackstone were worth $35,587,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in BX. Brighton Jones LLC grew its holdings in shares of Blackstone by 34.6% during the fourth quarter. Brighton Jones LLC now owns 7,917 shares of the asset manager’s stock valued at $1,365,000 after buying an additional 2,035 shares in the last quarter. MJP Associates Inc. ADV lifted its position in shares of Blackstone by 7.7% in the first quarter. MJP Associates Inc. ADV now owns 2,226 shares of the asset manager’s stock worth $311,000 after purchasing an additional 159 shares in the last quarter. State of Michigan Retirement System increased its stake in Blackstone by 1.3% in the 1st quarter. State of Michigan Retirement System now owns 198,600 shares of the asset manager’s stock valued at $27,760,000 after buying an additional 2,600 shares during the period. Fidelis Capital Partners LLC grew its holdings in shares of Blackstone by 119.5% during the 1st quarter. Fidelis Capital Partners LLC now owns 8,659 shares of the asset manager’s stock valued at $1,150,000 after acquiring an additional 4,714 shares in the last quarter. Finally, Sage Rhino Capital LLC raised its holdings in shares of Blackstone by 4.1% during the first quarter. Sage Rhino Capital LLC now owns 7,973 shares of the asset manager’s stock worth $1,114,000 after acquiring an additional 312 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Vikrant Sawhney sold 50,850 shares of the business’s stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $173.64, for a total value of $8,829,594.00. Following the sale, the insider owned 737,248 shares of the company’s stock, valued at $128,015,742.72. The trade was a 6.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Private Multi-Asset Blackstone acquired 2,538,071 shares of the firm’s stock in a transaction dated Monday, September 22nd. The stock was bought at an average price of $25.61 per share, with a total value of $64,999,998.31. Following the acquisition, the insider directly owned 7,506,209 shares in the company, valued at $192,234,012.49. This represents a 51.09% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have acquired 2,565,415 shares of company stock worth $69,037,981 and have sold 16,875,234 shares worth $136,847,628. 1.00% of the stock is currently owned by insiders.

Blackstone Stock Up 1.8%

Shares of BX stock opened at $146.00 on Friday. Blackstone Inc. has a one year low of $115.66 and a one year high of $200.96. The stock has a market cap of $107.61 billion, a P/E ratio of 41.71, a price-to-earnings-growth ratio of 1.18 and a beta of 1.76. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.75 and a quick ratio of 0.74. The stock has a fifty day moving average price of $165.79 and a 200 day moving average price of $157.17.

Blackstone (NYSE:BX – Get Free Report) last posted its earnings results on Friday, November 22nd. The asset manager reported $0.97 EPS for the quarter. The business had revenue of $2.49 billion during the quarter. Blackstone had a return on equity of 22.30% and a net margin of 20.56%. Analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Monday, November 3rd will be paid a $1.29 dividend. This is a boost from Blackstone’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Monday, November 3rd. This represents a $5.16 annualized dividend and a dividend yield of 3.5%. Blackstone’s payout ratio is 147.43%.

Analysts Set New Price Targets

Several brokerages recently commented on BX. JMP Securities reissued a “market outperform” rating and issued a $195.00 price target on shares of Blackstone in a research note on Friday, October 24th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Blackstone in a research note on Wednesday, October 8th. HSBC reduced their price target on Blackstone from $179.00 to $178.00 in a research report on Monday, October 27th. Deutsche Bank Aktiengesellschaft set a $166.00 target price on Blackstone and gave the stock a “buy” rating in a research report on Friday, October 24th. Finally, BNP Paribas Exane reduced their price objective on shares of Blackstone from $178.00 to $167.00 and set a “neutral” rating for the company in a research note on Friday, October 24th. Eleven research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $179.74.

Get Our Latest Research Report on Blackstone

Blackstone Company 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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