Blackstone Inc. $BX Shares Purchased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC raised its position in Blackstone Inc. (NYSE:BXFree Report) by 8.5% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 249,009 shares of the asset manager’s stock after buying an additional 19,603 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Blackstone were worth $39,543,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in the business. Jain Global LLC purchased a new stake in shares of Blackstone in the third quarter valued at approximately $9,116,000. Fayez Sarofim & Co lifted its position in shares of Blackstone by 1.9% during the 3rd quarter. Fayez Sarofim & Co now owns 1,270,608 shares of the asset manager’s stock valued at $217,083,000 after acquiring an additional 24,237 shares during the period. Close Asset Management Ltd raised its holdings in Blackstone by 16,035.1% during the third quarter. Close Asset Management Ltd now owns 1,140,264 shares of the asset manager’s stock worth $194,746,000 after purchasing an additional 1,133,197 shares during the last quarter. Natixis Advisors LLC boosted its position in Blackstone by 20.4% during the third quarter. Natixis Advisors LLC now owns 840,401 shares of the asset manager’s stock worth $143,582,000 after purchasing an additional 142,479 shares in the last quarter. Finally, Whittier Trust Co. lifted its holdings in shares of Blackstone by 2.1% in the third quarter. Whittier Trust Co. now owns 346,318 shares of the asset manager’s stock valued at $58,337,000 after purchasing an additional 7,053 shares in the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Trading Down 1.2%

NYSE:BX opened at $113.01 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.76 and a quick ratio of 0.76. Blackstone Inc. has a 12 month low of $101.73 and a 12 month high of $190.09. The firm has a market capitalization of $83.87 billion, a PE ratio of 29.13, a price-to-earnings-growth ratio of 0.91 and a beta of 1.74. The business’s 50-day moving average is $121.63 and its two-hundred day moving average is $144.53.

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

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 17th. Shareholders of record on Monday, February 9th were paid a dividend of $1.49 per share. This is a boost from Blackstone’s previous quarterly dividend of $1.29. The ex-dividend date was Monday, February 9th. This represents a $5.96 dividend on an annualized basis and a yield of 5.3%. Blackstone’s payout ratio is 153.61%.

Key Headlines Impacting Blackstone

Here are the key news stories impacting Blackstone this week:

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 stock in a transaction that occurred on 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 transaction, the insider owned 25,832 shares of the company’s stock, valued at $90,670.32. This trade represents a 99.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of the firm’s stock in a transaction on Friday, February 27th. The stock was sold at an average price of $10.00, for a total value of $15,961,420.00. The disclosure for this sale is available in the SEC filing. 1.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Royal Bank Of Canada initiated coverage on Blackstone in a research report on Monday, February 23rd. They issued an “outperform” rating and a $179.00 price objective on the stock. Rothschild & Co Redburn cut their target price 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. Piper Sandler decreased their price target on shares of Blackstone from $168.00 to $158.00 and set a “neutral” rating on the stock in a research note on Monday, February 2nd. Jefferies Financial Group reduced 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. Finally, BMO Capital Markets lowered their price objective on Blackstone from $165.00 to $126.00 and set an “outperform” rating for the company in a research report on Tuesday, March 24th. Eleven investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $164.00.

Get Our Latest Stock Analysis on Blackstone

Blackstone 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.

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Institutional Ownership by Quarter for Blackstone (NYSE:BX)

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