Blackstone Inc. (NYSE:BX) Shares Acquired by Natixis Advisors LLC

Key Points

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Natixis Advisors LLC raised its stake in Blackstone Inc. (NYSE:BX - Free Report) by 1.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 457,297 shares of the asset manager's stock after purchasing an additional 6,160 shares during the period. Natixis Advisors LLC owned 0.06% of Blackstone worth $63,921,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its holdings in shares of Blackstone by 34.6% during the fourth quarter. Brighton Jones LLC now owns 7,917 shares of the asset manager's stock worth $1,365,000 after purchasing an additional 2,035 shares during the period. American Century Companies Inc. lifted its holdings in shares of Blackstone by 11.8% during the fourth quarter. American Century Companies Inc. now owns 65,513 shares of the asset manager's stock worth $11,296,000 after purchasing an additional 6,938 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in Blackstone in the fourth quarter valued at $20,543,000. Tradewinds LLC. acquired a new stake in Blackstone in the fourth quarter valued at $447,000. Finally, Nemes Rush Group LLC lifted its holdings in Blackstone by 49.8% in the fourth quarter. Nemes Rush Group LLC now owns 334 shares of the asset manager's stock valued at $58,000 after acquiring an additional 111 shares during the period. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, major shareholder Holdings I. L.P. Blackstone acquired 1,189,532 shares of the stock in a transaction that occurred on Friday, July 18th. The stock was purchased at an average cost of $25.22 per share, for a total transaction of $29,999,997.04. Following the purchase, the insider directly owned 4,178,771 shares in the company, valued at $105,388,604.62. This represents a 39.79% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, insider John G. Finley sold 25,000 shares of the stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $138.47, for a total value of $3,461,750.00. Following the completion of the transaction, the insider directly owned 475,336 shares of the company's stock, valued at approximately $65,819,775.92. The trade was a 5.00% decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on BX. Evercore ISI raised their target price on Blackstone from $165.00 to $197.00 and gave the company an "outperform" rating in a report on Friday, July 25th. Keefe, Bruyette & Woods raised their price target on Blackstone from $168.00 to $180.00 and gave the company a "market perform" rating in a research report on Friday, July 25th. Deutsche Bank Aktiengesellschaft raised their price target on Blackstone from $170.00 to $192.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Piper Sandler raised their price target on Blackstone from $157.00 to $181.00 and gave the company a "neutral" rating in a research report on Monday, July 28th. Finally, Cowen reiterated a "buy" rating on shares of Blackstone in a research report on Monday, April 21st. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Blackstone currently has a consensus rating of "Hold" and an average price target of $170.12.

Blackstone Stock Down 0.1%

Blackstone stock traded down $0.10 during midday trading on Monday, hitting $170.30. 3,974,061 shares of the company were exchanged, compared to its average volume of 4,286,904. The company's fifty day moving average price is $152.55 and its 200-day moving average price is $150.49. The company has a market cap of $124.26 billion, a PE ratio of 45.78, a price-to-earnings-growth ratio of 1.39 and a beta of 1.71. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.74 and a quick ratio of 0.75. Blackstone Inc. has a fifty-two week low of $115.66 and a fifty-two week high of $200.96.

Blackstone (NYSE:BX - Get Free Report) last announced its earnings results on Thursday, July 24th. The asset manager reported $1.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 period in the prior year, the company posted $0.98 EPS. Blackstone's quarterly revenue was up 32.7% on a year-over-year basis. On average, research analysts predict that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 11th. Investors of record on Monday, August 4th will be paid a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Monday, August 4th. This is an increase from Blackstone's previous quarterly dividend of $0.93. Blackstone's dividend payout ratio (DPR) is currently 100.00%.

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.