Danske Bank A S Invests $44.36 Million in Blackstone Inc. $BX

Danske Bank A S acquired a new position in Blackstone Inc. (NYSE:BX) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 259,656 shares of the asset manager’s stock, valued at approximately $44,362,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. REAP Financial Group LLC acquired a new stake in shares of Blackstone in the third quarter valued at about $26,000. Traub Capital Management LLC bought a new position in Blackstone in the second quarter valued at approximately $27,000. Redmont Wealth Advisors LLC acquired a new position in shares of Blackstone during the 3rd quarter worth approximately $30,000. Strive Asset Management LLC acquired a new stake in shares of Blackstone in the 3rd quarter valued at approximately $30,000. Finally, Kelleher Financial Advisors bought a new position in shares of Blackstone in the third quarter valued at $34,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Trading Up 1.4%

Shares of Blackstone stock opened at $113.54 on Thursday. Blackstone Inc. has a 52-week low of $101.73 and a 52-week high of $190.09. The stock has a market cap of $84.27 billion, a PE ratio of 29.26, a PEG ratio of 0.89 and a beta of 1.79. The firm has a 50-day moving average of $131.94 and a 200-day moving average of $149.16. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.76 and a current ratio of 0.76.

Blackstone (NYSE:BX) last issued its quarterly earnings data on Thursday, January 29th. The asset manager reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.21. Blackstone had a net margin of 20.89% and a return on equity of 22.17%. The business had revenue of $4.36 billion during the quarter, compared to analysts’ expectations of $3.69 billion. During the same quarter in the previous year, the company earned $1.69 EPS. The business’s revenue was up 41.4% on a year-over-year basis. As a group, sell-side analysts forecast that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 17th. Shareholders of record on Monday, February 9th were issued a $1.49 dividend. The ex-dividend date of this dividend was Monday, February 9th. This represents a $5.96 annualized dividend and a yield of 5.2%. This is a boost from Blackstone’s previous quarterly dividend of $1.29. Blackstone’s payout ratio is presently 153.61%.

Insider Transactions at Blackstone

In other news, major shareholder Holdings Iv Gp Mana Blackstone purchased 1,146,789 shares of the business’s stock in a transaction dated Monday, February 23rd. The stock was bought at an average price of $26.16 per share, with a total value of $30,000,000.24. Following the acquisition, the insider owned 16,716,249 shares in the company, valued at approximately $437,297,073.84. The trade was a 7.37% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of Blackstone stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $10.00, for a total transaction of $15,961,420.00. Additional details regarding this sale are available in the official SEC disclosure. 1.00% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have commented on BX. Weiss Ratings reiterated a “hold (c)” rating on shares of Blackstone in a research note on Wednesday, January 21st. Jefferies Financial Group cut their target price on shares of Blackstone from $185.00 to $161.00 and set a “buy” rating for the company in a research note on Tuesday, February 10th. Bank of America lowered their price target on Blackstone from $199.00 to $189.00 in a research report on Wednesday, December 10th. Piper Sandler dropped their price objective on Blackstone from $168.00 to $158.00 and set a “neutral” rating on the stock in a research note on Monday, February 2nd. Finally, Citizens Jmp reiterated a “market outperform” rating and set a $195.00 target price on shares of Blackstone in a research note on Friday, January 30th. Eleven research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $165.86.

Blackstone Company Profile

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.