BW Gestao de Investimentos Ltda. Has $16.87 Million Stock Holdings in Blackstone Inc. $BX

Key Points

• BW Gestao de Investimentos Ltda. significantly increased its stake in Blackstone Inc. by 498.6% in Q1, now holding 120,716 shares valued at approximately $16.87 million.
• Insiders have been active, with one major shareholder selling nearly 16.7 million shares for approximately $104.48 million, while another added over 1.18 million shares.
• Blackstone announced a quarterly dividend increase from $0.93 to $1.03, resulting in an annualized dividend yield of 2.4%.

BW Gestao de Investimentos Ltda. raised its position in Blackstone Inc. (NYSE:BX - Free Report) by 498.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 120,716 shares of the asset manager's stock after buying an additional 100,550 shares during the quarter. Blackstone accounts for 0.5% of BW Gestao de Investimentos Ltda.'s holdings, making the stock its 18th biggest holding. BW Gestao de Investimentos Ltda.'s holdings in Blackstone were worth $16,874,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BX. 1248 Management LLC acquired a new position in Blackstone in the 1st quarter valued at $25,000. von Borstel & Associates Inc. acquired a new position in Blackstone in the 1st quarter valued at $28,000. Wealth Preservation Advisors LLC acquired a new position in Blackstone in the 1st quarter valued at $28,000. Putney Financial Group LLC acquired a new position in Blackstone in the 4th quarter valued at $34,000. Finally, Bernard Wealth Management Corp. acquired a new stake in shares of Blackstone during the 4th quarter worth $34,000. 70.00% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Blackstone

In other Blackstone news, major shareholder Bx Buzz Ml-1 Gp Llc sold 16,689,884 shares of the stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $6.26, for a total value of $104,478,673.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Holdings I. L.P. Blackstone acquired 1,189,532 shares of the stock in a transaction dated Friday, July 18th. The shares were bought at an average price of $25.22 per share, with a total value of $29,999,997.04. Following the completion of the transaction, the insider directly owned 4,178,771 shares of the company's stock, valued at $105,388,604.62. The trade was a 39.79% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 1,189,806 shares of company stock valued at $30,046,627 and sold 16,850,134 shares valued at $131,641,986. Company insiders own 1.00% of the company's stock.

Blackstone Price Performance

Shares of BX stock opened at $169.54 on Wednesday. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.61. Blackstone Inc. has a twelve month low of $115.66 and a twelve month high of $200.96. The company has a market cap of $124.97 billion, a P/E ratio of 45.58, a P/E/G ratio of 1.39 and a beta of 1.77. The business has a fifty day simple moving average of $166.29 and a 200 day simple moving average of $149.82.

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 the consensus estimate of $1.10 by $0.11. The firm had revenue of $3.07 billion during 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 business's quarterly revenue was up 32.7% on a year-over-year basis. During the same period last year, the company earned $0.98 earnings per share. On average, sell-side analysts forecast that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 11th. Shareholders of record on Monday, August 4th were given 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 2.4%. The ex-dividend date was Monday, August 4th. Blackstone's dividend payout ratio is 110.75%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Barclays increased their target price on Blackstone from $168.00 to $181.00 and gave the stock an "equal weight" rating in a report on Friday, July 25th. Keefe, Bruyette & Woods increased their target price on Blackstone from $168.00 to $180.00 and gave the stock a "market perform" rating in a report on Friday, July 25th. Deutsche Bank Aktiengesellschaft increased their target price on Blackstone from $170.00 to $192.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Dbs Bank raised Blackstone to a "moderate buy" rating in a report on Tuesday, August 12th. Finally, Evercore ISI increased 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. Nine equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $172.38.

Blackstone Company 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.

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