Susquehanna Fundamental Investments LLC acquired a new position in shares of Blackstone Inc. (NYSE:BX – Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 41,664 shares of the asset manager’s stock, valued at approximately $5,473,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Northwest Financial Advisors acquired a new position in Blackstone in the fourth quarter valued at about $25,000. Bourgeon Capital Management LLC lifted its stake in Blackstone by 86.2% in the fourth quarter. Bourgeon Capital Management LLC now owns 216 shares of the asset manager’s stock valued at $28,000 after buying an additional 100 shares in the last quarter. Roble Belko & Company Inc bought a new stake in shares of Blackstone during the fourth quarter worth $30,000. Advantage Trust Co bought a new stake in Blackstone in the 4th quarter valued at $30,000. Finally, Exchange Traded Concepts LLC increased its holdings in Blackstone by 763.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 233 shares of the asset manager’s stock worth $31,000 after purchasing an additional 206 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.
Insider Transactions at Blackstone
In related news, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $123.00, for a total transaction of $14,323,104.00. Following the completion of the transaction, the director now owns 921,184 shares of the company’s stock, valued at $113,305,632. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Ruth Porat acquired 219 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were bought at an average price of $119.48 per share, with a total value of $26,166.12. Following the transaction, the director now directly owns 34,445 shares of the company’s stock, valued at $4,115,488.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Joseph Baratta sold 116,448 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $123.00, for a total value of $14,323,104.00. Following the completion of the sale, the director now directly owns 921,184 shares of the company’s stock, valued at $113,305,632. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
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Blackstone Price Performance
NYSE BX traded up $2.71 during trading on Friday, hitting $129.32. 3,390,893 shares of the company’s stock were exchanged, compared to its average volume of 2,300,576. The stock’s 50 day moving average price is $122.97 and its two-hundred day moving average price is $124.14. Blackstone Inc. has a fifty-two week low of $88.59 and a fifty-two week high of $133.56. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.61. The company has a market cap of $92.42 billion, a PE ratio of 45.70, a P/E/G ratio of 1.11 and a beta of 1.50.
Blackstone (NYSE:BX – Get Free Report) last released its quarterly earnings data on Thursday, April 18th. The asset manager reported $0.98 earnings per share for the quarter, meeting the consensus estimate of $0.98. The company had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $2.56 billion. Blackstone had a return on equity of 17.33% and a net margin of 20.84%. Blackstone’s revenue for the quarter was up 166.9% on a year-over-year basis. During the same quarter last year, the business posted $0.97 EPS. Research analysts expect that Blackstone Inc. will post 4.69 EPS for the current year.
Blackstone Cuts Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, May 6th. Shareholders of record on Monday, April 29th were given a $0.83 dividend. The ex-dividend date of this dividend was Friday, April 26th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 2.57%. Blackstone’s dividend payout ratio (DPR) is presently 117.31%.
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.
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