Andra AP fonden Has $7.73 Million Stake in Blackstone Inc. $BX

Andra AP fonden decreased its position in Blackstone Inc. (NYSE:BX) by 14.5% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 51,700 shares of the asset manager’s stock after selling 8,800 shares during the period. Andra AP fonden’s holdings in Blackstone were worth $7,733,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BX. 1248 Management LLC acquired a new stake in Blackstone in the 1st quarter valued at about $25,000. Family CFO Inc bought a new position in Blackstone during the second quarter worth about $28,000. Wealth Preservation Advisors LLC bought a new stake in shares of Blackstone during the 1st quarter valued at $28,000. Anderson Financial Strategies LLC acquired a new stake in Blackstone during the first quarter worth about $28,000. Finally, Livelsberger Financial Advisory bought a new position in shares of Blackstone in the 2nd quarter valued at $30,000. 70.00% of the stock is owned by institutional investors.

Insider Transactions at Blackstone

In other news, Director Joseph Baratta sold 113,000 shares of Blackstone stock in a transaction on Thursday, September 25th. The shares were sold at an average price of $175.69, for a total transaction of $19,852,970.00. Following the completion of the sale, the director directly owned 695,757 shares of the company’s stock, valued at approximately $122,237,547.33. The trade was a 13.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Vikrant Sawhney sold 50,850 shares of the business’s stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $173.64, for a total value of $8,829,594.00. Following the completion of 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 position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have purchased 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 corporate insiders.

Blackstone Stock Performance

Shares of BX opened at $146.00 on Friday. The firm has a market cap of $107.61 billion, a PE ratio of 41.71, a PEG 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’s fifty day moving average price is $165.79 and its two-hundred day moving average price is $157.17. Blackstone Inc. has a 1 year low of $115.66 and a 1 year high of $200.96.

Blackstone (NYSE:BX) last released its quarterly earnings data on Friday, November 22nd. The asset manager reported $0.97 earnings per share for the quarter. The business had revenue of $2.49 billion during the quarter. Blackstone had a net margin of 20.56% and a return on equity of 22.30%. On average, equities research analysts forecast that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Blackstone from $177.00 to $176.00 and set a “neutral” rating for the company in a research note on Friday, October 24th. TD Cowen dropped their target price on shares of Blackstone from $208.00 to $205.00 and set a “buy” rating on the stock in a report on Friday, October 24th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Blackstone in a research report on Wednesday, October 8th. BMO Capital Markets decreased their price objective on Blackstone from $190.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, October 27th. Finally, Citigroup cut their price target on Blackstone from $185.00 to $170.00 and set a “neutral” rating for the company in a research note on Monday, October 13th. Eleven equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, Blackstone has a consensus rating of “Moderate Buy” and an average price target of $179.74.

Blackstone Company Profile

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.