Sava Infond d.o.o. Acquires Shares of 1,110 Blackstone Inc. $BX

Sava Infond d.o.o. acquired a new stake in Blackstone Inc. (NYSE:BX) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 1,110 shares of the asset manager’s stock, valued at approximately $166,000.

A number of other institutional investors also recently modified their holdings of BX. Kingstone Capital Partners Texas LLC raised its holdings in shares of Blackstone by 519,669.1% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 70,132,441 shares of the asset manager’s stock worth $10,490,411,000 after buying an additional 70,118,948 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Blackstone by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 67,997,581 shares of the asset manager’s stock worth $9,504,702,000 after buying an additional 1,102,949 shares in the last quarter. Nuveen LLC acquired a new position in shares of Blackstone during the 1st quarter worth $151,524,000. Amundi raised its holdings in shares of Blackstone by 69.3% during the 1st quarter. Amundi now owns 2,421,502 shares of the asset manager’s stock worth $323,000,000 after buying an additional 990,947 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Blackstone by 16.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,292,320 shares of the asset manager’s stock worth $739,761,000 after acquiring an additional 742,829 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Activity at Blackstone

In related news, Director Joseph Baratta sold 113,000 shares of the company’s stock in a transaction that occurred on Thursday, September 25th. The stock was sold at an average price of $175.69, for a total transaction of $19,852,970.00. Following the transaction, the director directly owned 695,757 shares of the company’s stock, valued at approximately $122,237,547.33. This represents a 13.97% 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, insider Vikrant Sawhney sold 50,850 shares of the company’s stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $173.64, for a total value of $8,829,594.00. Following the transaction, the insider directly owned 737,248 shares in the company, valued at approximately $128,015,742.72. This trade represents a 6.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 3,727,877 shares of company stock worth $95,046,625 and have sold 16,984,634 shares worth $155,181,346. 1.00% of the stock is currently owned by company insiders.

Blackstone Trading Up 1.1%

NYSE BX opened at $168.40 on Friday. Blackstone Inc. has a 12 month low of $115.66 and a 12 month high of $200.96. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.61. The business’s 50-day moving average price is $173.81 and its two-hundred day moving average price is $153.77. The firm has a market capitalization of $124.12 billion, a PE ratio of 45.27, a price-to-earnings-growth ratio of 1.35 and a beta of 1.77.

Blackstone (NYSE:BX) last announced its earnings results on Thursday, July 24th. The asset manager reported $1.21 EPS for the quarter, beating the consensus estimate of $1.10 by $0.11. Blackstone had a return on equity of 20.47% and a net margin of 20.83%.The company had revenue of $3.07 billion for the quarter, compared to analyst estimates of $2.77 billion. During the same quarter in the prior year, the company earned $0.98 EPS. The firm’s revenue for the quarter was up 32.7% compared to the same quarter last year. On average, analysts expect that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 11th. Investors of record on Monday, August 4th were given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Monday, August 4th. This is a positive change from Blackstone’s previous quarterly dividend of $0.93. Blackstone’s dividend payout ratio is currently 110.75%.

Analyst Ratings Changes

A number of brokerages have issued reports on BX. BMO Capital Markets began coverage on Blackstone in a report on Friday. They issued an “outperform” rating and a $190.00 target price for the company. The Goldman Sachs Group upped their target price on Blackstone from $172.00 to $173.00 and gave the stock a “neutral” rating in a report on Friday. Wells Fargo & Company upped their target price on Blackstone from $153.00 to $167.00 and gave the stock an “equal weight” rating in a report on Friday, July 11th. Evercore ISI upped their target price on Blackstone from $165.00 to $197.00 and gave the stock an “outperform” rating in a report on Friday, July 25th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Blackstone in a report on Saturday, September 27th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, Blackstone currently has a consensus rating of “Moderate Buy” and a consensus target price of $176.00.

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.