DNB Asset Management AS Has $45.75 Million Stake in Blackstone Inc. $BX

DNB Asset Management AS raised its holdings in Blackstone Inc. (NYSE:BX) by 16.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 267,773 shares of the asset manager’s stock after buying an additional 37,121 shares during the period. DNB Asset Management AS’s holdings in Blackstone were worth $45,749,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. REAP Financial Group LLC acquired a new position in Blackstone during the third quarter valued at approximately $26,000. Traub Capital Management LLC acquired a new stake in shares of Blackstone in the 2nd quarter valued at approximately $27,000. Redmont Wealth Advisors LLC bought a new position in shares of Blackstone in the third quarter valued at $30,000. Parvin Asset Management LLC bought a new stake in Blackstone during the second quarter worth $35,000. Finally, Rexford Capital Inc. acquired a new stake in Blackstone in the second quarter valued at $35,000. Institutional investors own 70.00% of the company’s stock.

Insider Buying and Selling at Blackstone

In other Blackstone news, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of the firm’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $10.00, for a total value of $15,961,420.00. Following the transaction, the insider directly owned 2,161 shares of the company’s stock, valued at $21,610. This trade represents a 99.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Holdings Iv Gp Mana Blackstone purchased 1,146,789 shares of Blackstone stock in a transaction that occurred on Monday, February 23rd. The shares were purchased at an average price of $26.16 per share, for a total transaction of $30,000,000.24. Following the transaction, the insider directly owned 16,716,249 shares in the company, valued at $437,297,073.84. This represents a 7.37% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 1.00% of the company’s stock.

Blackstone Trading Down 0.3%

Shares of Blackstone stock opened at $117.87 on Friday. Blackstone Inc. has a 52-week low of $111.04 and a 52-week high of $190.09. The stock has a market cap of $87.04 billion, a PE ratio of 30.38, a PEG ratio of 0.92 and a beta of 1.76. The firm has a 50-day moving average of $144.71 and a 200-day moving average of $155.14. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.75 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 5.1%. This is a boost from Blackstone’s previous quarterly dividend of $1.29. Blackstone’s payout ratio is presently 153.61%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on BX shares. HSBC dropped their target price on shares of Blackstone from $178.00 to $174.00 and set a “hold” rating on the stock in a report on Wednesday, January 28th. JPMorgan Chase & Co. cut their price objective on Blackstone from $176.00 to $158.00 and set a “neutral” rating for the company in a research report on Friday, January 30th. Royal Bank Of Canada assumed coverage on Blackstone in a research note on Monday. They issued an “outperform” rating and a $179.00 price target on the stock. Citigroup reaffirmed a “market outperform” rating on shares of Blackstone in a research report on Friday, January 30th. Finally, BNP Paribas Exane cut their target price on shares of Blackstone from $167.00 to $156.00 and set a “neutral” rating for the company in a research note on Monday, January 12th. Eleven research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $169.38.

Blackstone 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.