Van ECK Associates Corp Increases Stock Position in Blackstone Inc. (NYSE:BX)

Van ECK Associates Corp lifted its position in shares of Blackstone Inc. (NYSE:BXFree Report) by 72.5% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 15,597 shares of the asset manager’s stock after buying an additional 6,553 shares during the period. Van ECK Associates Corp’s holdings in Blackstone were worth $2,049,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. HB Wealth Management LLC lifted its stake in shares of Blackstone by 4.2% during the first quarter. HB Wealth Management LLC now owns 23,474 shares of the asset manager’s stock valued at $3,084,000 after buying an additional 945 shares during the period. M3 Advisory Group LLC increased its position in Blackstone by 12.3% during the first quarter. M3 Advisory Group LLC now owns 4,186 shares of the asset manager’s stock worth $550,000 after purchasing an additional 457 shares during the last quarter. Mcdaniel Terry & Co. increased its position in Blackstone by 6.9% during the first quarter. Mcdaniel Terry & Co. now owns 1,818 shares of the asset manager’s stock worth $239,000 after purchasing an additional 118 shares during the last quarter. FAS Wealth Partners Inc. increased its position in Blackstone by 4.0% during the first quarter. FAS Wealth Partners Inc. now owns 19,946 shares of the asset manager’s stock worth $2,620,000 after purchasing an additional 768 shares during the last quarter. Finally, Greenleaf Trust increased its position in Blackstone by 46.5% during the first quarter. Greenleaf Trust now owns 4,525 shares of the asset manager’s stock worth $594,000 after purchasing an additional 1,437 shares during the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Analyst Upgrades and Downgrades

BX has been the subject of several research analyst reports. JPMorgan Chase & Co. dropped their price target on shares of Blackstone from $105.00 to $100.00 and set a “neutral” rating for the company in a research report on Friday, April 19th. Argus increased their price objective on shares of Blackstone from $133.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Morgan Stanley increased their price objective on shares of Blackstone from $144.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 17th. UBS Group increased their price objective on shares of Blackstone from $135.00 to $138.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Finally, Piper Sandler dropped their price objective on shares of Blackstone from $150.00 to $146.00 and set an “overweight” rating for the company in a research report on Wednesday, April 10th. Thirteen research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Blackstone currently has a consensus rating of “Hold” and a consensus price target of $123.65.

Get Our Latest Analysis on Blackstone

Blackstone Trading Down 0.6 %

NYSE BX opened at $122.72 on Monday. Blackstone Inc. has a 12 month low of $88.59 and a 12 month high of $133.56. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.79 and a quick ratio of 0.79. The company has a market capitalization of $87.70 billion, a price-to-earnings ratio of 43.36, a price-to-earnings-growth ratio of 1.03 and a beta of 1.50. The company’s fifty day moving average price is $122.36 and its two-hundred day moving average price is $124.37.

Blackstone (NYSE:BXGet Free Report) last posted its quarterly earnings data on Thursday, April 18th. The asset manager reported $0.98 EPS for the quarter, meeting analysts’ consensus estimates of $0.98. Blackstone had a net margin of 20.84% and a return on equity of 17.33%. The firm had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same period in the prior year, the firm posted $0.97 EPS. The firm’s revenue was up 166.9% compared to the same quarter last year. As a group, research analysts predict that Blackstone Inc. will post 4.77 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 6th. Stockholders of record on Monday, April 29th were given a $0.83 dividend. The ex-dividend date of this dividend was Friday, April 26th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 2.71%. Blackstone’s payout ratio is currently 117.31%.

Insider Transactions at Blackstone

In related news, Director Joseph Baratta sold 116,448 shares of the stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $123.00, for a total value of $14,323,104.00. Following the sale, the director now owns 921,184 shares of the company’s stock, valued at approximately $113,305,632. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Joseph Baratta sold 116,448 shares of the stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $123.00, for a total value of $14,323,104.00. Following the sale, the director now owns 921,184 shares of the company’s stock, valued at approximately $113,305,632. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Ruth Porat acquired 219 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was purchased at an average cost of $119.48 per share, for a total transaction of $26,166.12. Following the acquisition, the director now owns 34,445 shares in the company, valued at $4,115,488.60. The disclosure for this purchase can be found here. Insiders own 1.00% of the company’s stock.

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.

Featured Articles

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:BXFree Report).

Institutional Ownership by Quarter for Blackstone (NYSE:BX)

Receive News & Ratings for Blackstone Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Blackstone and related companies with MarketBeat.com's FREE daily email newsletter.