US Bancorp DE Acquires 3,718 Shares of Blackstone Inc. (NYSE:BX)

US Bancorp DE boosted its holdings in Blackstone Inc. (NYSE:BXGet Rating) by 4.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 91,449 shares of the asset manager’s stock after purchasing an additional 3,718 shares during the quarter. US Bancorp DE’s holdings in Blackstone were worth $7,654,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Thoroughbred Financial Services LLC increased its holdings in Blackstone by 9.3% in the third quarter. Thoroughbred Financial Services LLC now owns 6,696 shares of the asset manager’s stock worth $560,000 after purchasing an additional 567 shares in the last quarter. AJ Wealth Strategies LLC increased its holdings in Blackstone by 73.9% in the third quarter. AJ Wealth Strategies LLC now owns 15,618 shares of the asset manager’s stock worth $1,307,000 after purchasing an additional 6,637 shares in the last quarter. Slow Capital Inc. increased its holdings in Blackstone by 22.9% in the third quarter. Slow Capital Inc. now owns 5,535 shares of the asset manager’s stock worth $463,000 after purchasing an additional 1,032 shares in the last quarter. Redhawk Wealth Advisors Inc. increased its holdings in Blackstone by 6.7% in the third quarter. Redhawk Wealth Advisors Inc. now owns 8,176 shares of the asset manager’s stock worth $684,000 after purchasing an additional 515 shares in the last quarter. Finally, Appleton Partners Inc. MA increased its holdings in Blackstone by 3.1% in the third quarter. Appleton Partners Inc. MA now owns 17,261 shares of the asset manager’s stock worth $1,445,000 after purchasing an additional 522 shares in the last quarter. 62.39% of the stock is currently owned by institutional investors.

Blackstone Stock Up 3.2 %

BX stock opened at $83.07 on Thursday. The stock’s fifty day simple moving average is $83.77 and its two-hundred day simple moving average is $90.85. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.52. Blackstone Inc. has a 1-year low of $71.72 and a 1-year high of $138.95. The stock has a market cap of $58.30 billion, a P/E ratio of 23.47, a P/E/G ratio of 2.06 and a beta of 1.47.

Blackstone (NYSE:BXGet Rating) last posted its quarterly earnings data on Thursday, October 20th. The asset manager reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.10. Blackstone had a return on equity of 20.75% and a net margin of 20.58%. The business had revenue of $2.59 billion for the quarter, compared to analysts’ expectations of $2.52 billion. During the same quarter in the previous year, the firm earned $1.28 earnings per share. The business’s revenue was down 14.8% on a year-over-year basis. Analysts expect that Blackstone Inc. will post 5.12 EPS for the current year.

Blackstone Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 7th. Stockholders of record on Monday, October 31st were given a dividend of $0.90 per share. The ex-dividend date of this dividend was Friday, October 28th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 4.33%. Blackstone’s dividend payout ratio is presently 101.70%.

Insider Activity

In other news, major shareholder Holdings L.P. Blackstone III sold 4,200 shares of the company’s stock in a transaction on Tuesday, October 18th. The stock was sold at an average price of $32.62, for a total transaction of $137,004.00. Following the transaction, the insider now owns 695,446 shares of the company’s stock, valued at approximately $22,685,448.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, major shareholder Holdings L.P. Blackstone III sold 4,200 shares of the company’s stock in a transaction on Tuesday, October 18th. The stock was sold at an average price of $32.62, for a total transaction of $137,004.00. Following the transaction, the insider now owns 695,446 shares of the company’s stock, valued at approximately $22,685,448.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Holdings I/Ii Gp L. Blackstone sold 6,341,568 shares of the company’s stock in a transaction on Wednesday, December 14th. The shares were sold at an average price of $8.00, for a total value of $50,732,544.00. Following the transaction, the insider now directly owns 83,109 shares in the company, valued at approximately $664,872. The disclosure for this sale can be found here. Insiders have sold 19,536,085 shares of company stock valued at $180,412,256 in the last 90 days. Insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Morgan Stanley decreased their price objective on Blackstone from $121.00 to $115.00 and set an “overweight” rating for the company in a report on Wednesday, October 19th. Wells Fargo & Company upgraded Blackstone from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $88.00 to $95.00 in a report on Wednesday. Barclays decreased their price objective on Blackstone from $90.00 to $80.00 and set an “equal weight” rating for the company in a report on Monday, December 19th. Bank of America restated a “buy” rating and set a $125.00 price objective on shares of Blackstone in a report on Thursday, October 6th. Finally, StockNews.com downgraded Blackstone from a “hold” rating to a “sell” rating in a report on Wednesday, October 5th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $108.77.

Blackstone Company Profile

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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.

See Also

Want to see what other hedge funds are holding BX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Blackstone Inc. (NYSE:BXGet Rating).

Institutional Ownership by Quarter for Blackstone (NYSE:BX)

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