Blackstone Inc. (NYSE:BX) Shares Purchased by Pacer Advisors Inc.

Pacer Advisors Inc. raised its stake in shares of Blackstone Inc. (NYSE:BXFree Report) by 28.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,613 shares of the asset manager’s stock after purchasing an additional 12,878 shares during the quarter. Pacer Advisors Inc.’s holdings in Blackstone were worth $7,543,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in BX. Mirador Capital Partners LP boosted its position in Blackstone by 2.2% in the third quarter. Mirador Capital Partners LP now owns 87,646 shares of the asset manager’s stock valued at $9,390,000 after buying an additional 1,862 shares during the last quarter. WASHINGTON TRUST Co raised its stake in shares of Blackstone by 7.0% during the 3rd quarter. WASHINGTON TRUST Co now owns 121,358 shares of the asset manager’s stock valued at $13,002,000 after buying an additional 7,907 shares during the last quarter. Kampmann Melissa S. purchased a new stake in shares of Blackstone in the third quarter worth about $2,314,000. The Manufacturers Life Insurance Company raised its position in Blackstone by 1,722.9% during the third quarter. The Manufacturers Life Insurance Company now owns 504,441 shares of the asset manager’s stock valued at $54,046,000 after acquiring an additional 476,768 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Blackstone by 1.2% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 53,258 shares of the asset manager’s stock worth $5,706,000 after purchasing an additional 632 shares during the period. 70.00% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on BX shares. The Goldman Sachs Group downgraded shares of Blackstone from a “buy” rating to a “neutral” rating and increased their price target for the stock from $115.00 to $128.00 in a report on Wednesday, January 3rd. Oppenheimer downgraded Blackstone from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 11th. TheStreet lowered shares of Blackstone from a “b” rating to a “c+” rating in a report on Thursday, January 25th. Wells Fargo & Company lifted their target price on shares of Blackstone from $127.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday, January 22nd. Finally, Bank of America raised their price target on shares of Blackstone from $146.00 to $147.00 and gave the company a “buy” rating in a research note on Monday, March 4th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Blackstone has a consensus rating of “Hold” and an average price target of $119.53.

View Our Latest Report on Blackstone

Insider Buying and Selling

In other Blackstone news, Director Joseph Baratta sold 28,852 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $128.05, for a total value of $3,694,498.60. Following the completion of the transaction, the director now owns 982,221 shares in the company, valued at $125,773,399.05. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider John G. Finley sold 49,000 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $127.93, for a total transaction of $6,268,570.00. Following the completion of the transaction, the insider now owns 393,143 shares in the company, valued at $50,294,783.99. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Joseph Baratta sold 28,852 shares of Blackstone stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $128.05, for a total value of $3,694,498.60. Following the sale, the director now directly owns 982,221 shares of the company’s stock, valued at $125,773,399.05. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,587,168 shares of company stock valued at $37,816,476. Corporate insiders own 1.00% of the company’s stock.

Blackstone Price Performance

NYSE:BX opened at $130.96 on Thursday. The stock’s fifty day moving average is $125.32 and its two-hundred day moving average is $115.89. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $93.59 billion, a P/E ratio of 71.56, a P/E/G ratio of 1.03 and a beta of 1.51. Blackstone Inc. has a 52 week low of $79.29 and a 52 week high of $133.56.

Blackstone (NYSE:BXGet Free Report) last announced its quarterly earnings results on Thursday, January 25th. The asset manager reported $1.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.16. The business had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $2.48 billion. Blackstone had a net margin of 17.34% and a return on equity of 17.30%. During the same period last year, the business earned $1.07 earnings per share. Equities analysts expect that Blackstone Inc. will post 4.92 EPS for the current year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 12th. Stockholders of record on Monday, February 5th were paid a $0.94 dividend. The ex-dividend date of this dividend was Friday, February 2nd. This is a boost from Blackstone’s previous quarterly dividend of $0.80. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.87%. Blackstone’s payout ratio is presently 205.46%.

About Blackstone

(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.

Further Reading

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Institutional Ownership by Quarter for Blackstone (NYSE:BX)

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