Focus Partners Advisor Solutions LLC Has $3.08 Million Holdings in Blackstone Inc. $BX

Focus Partners Advisor Solutions LLC raised its stake in shares of Blackstone Inc. (NYSE:BXFree Report) by 1,229.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 18,038 shares of the asset manager’s stock after purchasing an additional 16,681 shares during the quarter. Focus Partners Advisor Solutions LLC’s holdings in Blackstone were worth $3,082,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Blackstone in the 2nd quarter worth approximately $1,071,348,000. Vanguard Group Inc. lifted its position in Blackstone by 2.2% in the second quarter. Vanguard Group Inc. now owns 69,492,377 shares of the asset manager’s stock worth $10,394,670,000 after purchasing an additional 1,494,796 shares during the period. Close Asset Management Ltd increased its holdings in Blackstone by 16,035.1% in the 3rd quarter. Close Asset Management Ltd now owns 1,140,264 shares of the asset manager’s stock valued at $194,746,000 after buying an additional 1,133,197 shares during the period. Lazard Asset Management LLC raised its stake in shares of Blackstone by 31.9% in the 2nd quarter. Lazard Asset Management LLC now owns 3,803,344 shares of the asset manager’s stock valued at $568,902,000 after buying an additional 919,773 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in shares of Blackstone by 115.4% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,088,786 shares of the asset manager’s stock valued at $162,861,000 after acquiring an additional 583,384 shares in the last quarter. 70.00% of the stock is owned by institutional investors and hedge funds.

Blackstone Stock Performance

Blackstone stock opened at $114.07 on Thursday. Blackstone Inc. has a 12-month low of $105.09 and a 12-month high of $190.09. The stock has a 50-day simple moving average of $141.39 and a 200 day simple moving average of $153.33. The company has a quick ratio of 0.75, a current ratio of 0.76 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $84.66 billion, a price-to-earnings ratio of 29.40, a P/E/G ratio of 0.95 and a beta of 1.79.

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

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 17th. Stockholders of record on Monday, February 9th were given a dividend of $1.49 per share. The ex-dividend date was Monday, February 9th. This is an increase from Blackstone’s previous quarterly dividend of $1.29. This represents a $5.96 dividend on an annualized basis and a dividend yield of 5.2%. Blackstone’s dividend payout ratio is presently 153.61%.

Insider Buying and Selling at Blackstone

In other news, major shareholder Holdings Iv Gp Mana Blackstone purchased 1,146,789 shares of the firm’s stock in a transaction that occurred on Monday, February 23rd. The shares were acquired at an average price of $26.16 per share, for a total transaction of $30,000,000.24. Following the completion of the acquisition, the insider directly owned 16,716,249 shares in the company, valued at approximately $437,297,073.84. The trade was a 7.37% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of the business’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. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.00% of the company’s stock.

Key Headlines Impacting Blackstone

Here are the key news stories impacting Blackstone this week:

Analyst Ratings Changes

A number of brokerages have commented on BX. Rothschild & Co Redburn cut their price target on shares of Blackstone from $165.00 to $158.00 and set a “neutral” rating for the company in a research note on Monday, February 2nd. TD Cowen dropped their target price on Blackstone from $183.00 to $164.00 and set a “buy” rating for the company in a report on Thursday, February 12th. Jefferies Financial Group decreased their price target on Blackstone from $185.00 to $161.00 and set a “buy” rating on the stock in a research note on Tuesday, February 10th. Piper Sandler dropped their price objective on Blackstone from $168.00 to $158.00 and set a “neutral” rating for the company in a research note on Monday, February 2nd. Finally, Bank of America lowered their target price on shares of Blackstone from $199.00 to $189.00 in a report on Wednesday, December 10th. Eleven research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $165.86.

Get Our Latest Stock Report on BX

About Blackstone

(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.

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Institutional Ownership by Quarter for Blackstone (NYSE:BX)

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