Accurate Wealth Management LLC bought a new stake in shares of Blackstone Inc. (NYSE:BX – Get Rating) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 4,472 shares of the asset manager’s stock, valued at approximately $360,000.
Several other hedge funds also recently added to or reduced their stakes in BX. Whalerock Point Partners LLC purchased a new stake in Blackstone during the 3rd quarter valued at about $282,571,000. Mach 1 Financial Group LLC purchased a new stake in shares of Blackstone in the third quarter worth about $25,000. SJS Investment Consulting Inc. purchased a new stake in shares of Blackstone in the third quarter worth about $26,000. HWG Holdings LP purchased a new stake in shares of Blackstone in the third quarter worth about $28,000. Finally, Trust Co. of Vermont boosted its stake in shares of Blackstone by 133.3% in the third quarter. Trust Co. of Vermont now owns 350 shares of the asset manager’s stock worth $30,000 after buying an additional 200 shares during the last quarter. 62.39% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Blackstone
In other news, major shareholder Holdings L.P. Blackstone III sold 99,889,464 shares of Blackstone stock in a transaction dated Friday, March 10th. The stock was sold at an average price of $12.00, for a total transaction of $1,198,673,568.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 11,750,000 shares of the business’s stock in a transaction dated Wednesday, March 8th. The stock was sold at an average price of $22.17, for a total value of $260,497,500.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Holdings L.P. Blackstone III sold 99,889,464 shares of Blackstone stock in a transaction that occurred on Friday, March 10th. The shares were sold at an average price of $12.00, for a total value of $1,198,673,568.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 140,532,616 shares of company stock worth $1,726,902,967. Corporate insiders own 1.00% of the company’s stock.
Analyst Upgrades and Downgrades
Blackstone Trading Down 2.7 %
NYSE:BX opened at $84.89 on Friday. The firm has a market cap of $59.96 billion, a PE ratio of 35.82, a price-to-earnings-growth ratio of 1.90 and a beta of 1.52. The stock has a fifty day moving average price of $89.93 and a 200 day moving average price of $88.03. Blackstone Inc. has a 12-month low of $71.72 and a 12-month high of $132.93. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.69.
Blackstone (NYSE:BX – Get Rating) last posted its quarterly earnings results on Thursday, January 26th. The asset manager reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.12. Blackstone had a return on equity of 19.43% and a net margin of 20.52%. The company had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $2.62 billion. During the same period last year, the firm earned $1.71 earnings per share. Sell-side analysts anticipate that Blackstone Inc. will post 4.66 earnings per share for the current fiscal year.
Blackstone Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, February 13th. Stockholders of record on Monday, February 6th were given a dividend of $0.91 per share. The ex-dividend date was Friday, February 3rd. This represents a $3.64 dividend on an annualized basis and a dividend yield of 4.29%. This is a boost from Blackstone’s previous quarterly dividend of $0.90. Blackstone’s payout ratio is 153.59%.
Blackstone, Inc engages in the provision of investment and fund management services. It operates through the following segments: Real Estate, Private Equity, Credit and Insurance, and Hedge Fund Solutions. The Real Estate segment includes management of opportunistic real estate funds, Core+ real estate funds, high-yield real estate debt funds, and liquid real estate debt funds.
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