Blackstone Inc. (NYSE:BX) Shares Bought by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt increased its stake in shares of Blackstone Inc. (NYSE:BX) by 317.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,362 shares of the asset manager’s stock after acquiring an additional 4,076 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Blackstone were worth $821,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Moseley Investment Management Inc. boosted its holdings in Blackstone by 0.7% during the second quarter. Moseley Investment Management Inc. now owns 11,239 shares of the asset manager’s stock worth $1,391,000 after buying an additional 74 shares in the last quarter. Patrick M Sweeney & Associates Inc. boosted its position in Blackstone by 0.6% during the second quarter. Patrick M Sweeney & Associates Inc. now owns 13,840 shares of the asset manager’s stock worth $1,713,000 after purchasing an additional 80 shares in the last quarter. Signaturefd LLC increased its position in shares of Blackstone by 0.6% in the second quarter. Signaturefd LLC now owns 13,615 shares of the asset manager’s stock valued at $1,686,000 after buying an additional 80 shares in the last quarter. WR Wealth Planners LLC lifted its position in shares of Blackstone by 23.7% during the 2nd quarter. WR Wealth Planners LLC now owns 439 shares of the asset manager’s stock valued at $54,000 after buying an additional 84 shares in the last quarter. Finally, Beaumont Asset Management L.L.C. raised its position in Blackstone by 1.3% during the second quarter. Beaumont Asset Management L.L.C. now owns 6,672 shares of the asset manager’s stock worth $826,000 after acquiring an additional 84 shares during the period. 70.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BX. Bank of America upped their price target on shares of Blackstone from $130.00 to $145.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. The Goldman Sachs Group boosted their price target on Blackstone from $130.00 to $135.00 and gave the stock a “neutral” rating in a research report on Thursday, October 3rd. Morgan Stanley lifted their target price on shares of Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a research note on Thursday. Barclays raised their price target on shares of Blackstone from $141.00 to $155.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Finally, TD Cowen increased their price objective on shares of Blackstone from $114.00 to $120.00 and gave the company a “hold” rating in a report on Friday, July 19th. Twelve analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Blackstone currently has a consensus rating of “Hold” and a consensus target price of $135.00.

Blackstone Stock Up 2.7 %

Shares of NYSE:BX opened at $153.04 on Friday. The business has a 50-day moving average price of $143.72 and a 200 day moving average price of $132.13. Blackstone Inc. has a 12-month low of $88.59 and a 12-month high of $161.25. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $109.37 billion, a price-to-earnings ratio of 54.08, a PEG ratio of 1.24 and a beta of 1.51.

Blackstone (NYSE:BX) last released its quarterly earnings results on Thursday, July 18th. The asset manager reported $0.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.03). Blackstone had a net margin of 19.35% and a return on equity of 17.43%. The company had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $2.58 billion. During the same period last year, the firm posted $0.93 earnings per share. Blackstone’s revenue was up 166.9% on a year-over-year basis. Sell-side analysts expect that Blackstone Inc. will post 4.46 EPS for the current year.

Blackstone Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Monday, July 29th were paid a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend was Monday, July 29th. Blackstone’s payout ratio is currently 115.90%.

Insider Buying and Selling at Blackstone

In related news, insider John G. Finley sold 35,000 shares of Blackstone stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $131.74, for a total value of $4,610,900.00. Following the completion of the transaction, the insider now directly owns 429,386 shares in the company, valued at approximately $56,567,311.64. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider John G. Finley sold 35,000 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total transaction of $4,610,900.00. Following the completion of the sale, the insider now owns 429,386 shares in the company, valued at approximately $56,567,311.64. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph Baratta sold 116,448 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total value of $17,561,522.88. Following the completion of the transaction, the director now owns 799,749 shares in the company, valued at $120,610,146.69. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.

About Blackstone

Blackstone Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, public debt and equity and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services.