Aberdeen Group plc Grows Stock Holdings in Blackstone Inc. $BX

Aberdeen Group plc raised its stake in Blackstone Inc. (NYSE:BXFree Report) by 2.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 724,986 shares of the asset manager’s stock after buying an additional 20,586 shares during the period. Aberdeen Group plc owned approximately 0.10% of Blackstone worth $111,749,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of BX. REAP Financial Group LLC acquired a new position in Blackstone during the third quarter worth $26,000. Redmont Wealth Advisors LLC purchased a new position in shares of Blackstone in the third quarter valued at $30,000. Strive Asset Management LLC purchased a new stake in shares of Blackstone in the 3rd quarter worth about $30,000. Kelleher Financial Advisors purchased a new position in Blackstone during the 3rd quarter valued at about $34,000. Finally, Parvin Asset Management LLC acquired a new position in Blackstone during the second quarter worth about $35,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Wall Street Analysts Forecast Growth

BX has been the subject of a number of recent research reports. Jefferies Financial Group dropped their price objective 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. Citizens Jmp reiterated a “market outperform” rating and set a $195.00 target price on shares of Blackstone in a report on Friday, January 30th. TD Cowen cut their price target on Blackstone from $183.00 to $164.00 and set a “buy” rating for the company in a report on Thursday, February 12th. Evercore decreased their price objective on Blackstone from $175.00 to $170.00 and set an “outperform” rating on the stock in a research note on Friday, January 30th. Finally, Piper Sandler cut their target price on shares of Blackstone from $168.00 to $158.00 and set a “neutral” rating for the company in a research note on Monday, February 2nd. Eleven investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $164.00.

View Our Latest Research Report on BX

Blackstone Price Performance

Shares of NYSE:BX opened at $113.01 on Friday. The business has a fifty day simple moving average of $121.63 and a 200-day simple moving average of $144.53. Blackstone Inc. has a 52 week low of $101.73 and a 52 week high of $190.09. The company has a market cap of $83.87 billion, a P/E ratio of 29.13, a P/E/G ratio of 0.91 and a beta of 1.74. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.61.

Blackstone (NYSE:BXGet Free Report) last issued its quarterly earnings results on Thursday, January 29th. The asset manager reported $1.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.21. The firm had revenue of $4.36 billion for the quarter, compared to analyst estimates of $3.69 billion. Blackstone had a return on equity of 22.17% and a net margin of 20.89%.The firm’s quarterly revenue was up 41.4% on a year-over-year basis. During the same period last year, the company earned $1.69 EPS. Equities research analysts forecast that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 17th. Investors of record on Monday, February 9th were given a dividend of $1.49 per share. This represents a $5.96 annualized dividend and a yield of 5.3%. This is a positive change from Blackstone’s previous quarterly dividend of $1.29. The ex-dividend date of this dividend was Monday, February 9th. Blackstone’s dividend payout ratio (DPR) is currently 153.61%.

Insider Buying and Selling at Blackstone

In other Blackstone news, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,504 shares of the business’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $3.51, for a total transaction of $26,246,039.04. Following the completion of the sale, the insider owned 25,832 shares of the company’s stock, valued at approximately $90,670.32. The trade was a 99.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of the firm’s stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $10.00, for a total value of $15,961,420.00. The SEC filing for this sale provides additional information. 1.00% of the stock is owned by company insiders.

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Blackstone Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Blackstone (NYSE:BX)

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