Blackstone Inc. (NYSE:BX) Shares Acquired by Skandinaviska Enskilda Banken AB publ

Key Points

• Skandinaviska Enskilda Banken AB publ increased its holdings in Blackstone Inc. by 0.8%, owning 200,821 shares valued at approximately $27.99 million as of its latest filing.
• Insider John G. Finley sold 25,000 shares of Blackstone on May 8th, representing a 5.00% decrease in his ownership to 475,336 shares.
• Blackstone recently declared a quarterly dividend of $1.03 per share, up from the previous dividend of $0.93, reflecting a dividend yield of 2.32%.

Skandinaviska Enskilda Banken AB publ lifted its stake in shares of Blackstone Inc. (NYSE:BX - Free Report) by 0.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 200,821 shares of the asset manager's stock after acquiring an additional 1,668 shares during the quarter. Skandinaviska Enskilda Banken AB publ's holdings in Blackstone were worth $27,994,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in BX. von Borstel & Associates Inc. bought a new stake in shares of Blackstone during the first quarter valued at approximately $28,000. Murphy & Mullick Capital Management Corp bought a new stake in shares of Blackstone during the fourth quarter valued at approximately $33,000. Bernard Wealth Management Corp. bought a new stake in shares of Blackstone during the fourth quarter valued at approximately $34,000. Putney Financial Group LLC bought a new stake in Blackstone during the fourth quarter worth $34,000. Finally, Garde Capital Inc. bought a new stake in Blackstone during the first quarter worth $36,000. 70.00% of the stock is currently owned by institutional investors.

Insider Activity

In other Blackstone news, insider John G. Finley sold 25,000 shares of the business's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $138.47, for a total value of $3,461,750.00. Following the transaction, the insider owned 475,336 shares in the company, valued at $65,819,775.92. The trade was a 5.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Private Credit Stra Blackstone bought 1,660,000 shares of the company's stock in a transaction dated Thursday, May 1st. The stock was bought at an average cost of $15.00 per share, with a total value of $24,900,000.00. Following the transaction, the insider directly owned 1,666,667 shares in the company, valued at approximately $25,000,005. The trade was a 24,898.76% increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 2,849,769 shares of company stock valued at $54,932,307 over the last quarter. Insiders own 1.00% of the company's stock.

Blackstone Stock Performance

Shares of NYSE BX traded down $1.39 during trading on Wednesday, reaching $175.65. 1,183,916 shares of the company traded hands, compared to its average volume of 4,282,740. The company has a current ratio of 0.74, a quick ratio of 0.75 and a debt-to-equity ratio of 0.61. Blackstone Inc. has a 12-month low of $115.66 and a 12-month high of $200.96. The firm's fifty day simple moving average is $150.38 and its 200 day simple moving average is $150.62. The stock has a market cap of $128.16 billion, a P/E ratio of 47.23, a PEG ratio of 1.45 and a beta of 1.65.

Blackstone (NYSE:BX - Get Free Report) last posted its earnings results on Thursday, July 24th. The asset manager reported $1.21 EPS for the quarter, beating analysts' consensus estimates of $1.10 by $0.11. The company had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $2.77 billion. Blackstone had a return on equity of 20.47% and a net margin of 20.83%. The company's revenue for the quarter was up 32.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.98 earnings per share. As a group, research analysts anticipate that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 11th. Shareholders of record on Monday, August 4th will be paid a $1.03 dividend. This is a boost from Blackstone's previous quarterly dividend of $0.93. This represents a $4.12 annualized dividend and a yield of 2.35%. The ex-dividend date is Monday, August 4th. Blackstone's payout ratio is presently 100.00%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on BX. Piper Sandler increased their price target on Blackstone from $157.00 to $181.00 and gave the stock a "neutral" rating in a research note on Monday. Barclays increased their price target on Blackstone from $168.00 to $181.00 and gave the stock an "equal weight" rating in a research note on Friday, July 25th. Citizens Jmp upgraded Blackstone from a "market perform" rating to an "outperform" rating and set a $165.00 price target for the company in a research note on Tuesday, April 8th. Cowen reiterated a "buy" rating on shares of Blackstone in a research note on Monday, April 21st. Finally, Keefe, Bruyette & Woods increased their price target on Blackstone from $168.00 to $180.00 and gave the stock a "market perform" rating in a research note on Friday, July 25th. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $170.12.

Blackstone Profile

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.