Fifth Third Bancorp raised its holdings in Blackstone Inc. (NYSE:BX - Free Report) by 2.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 115,736 shares of the asset manager's stock after purchasing an additional 2,462 shares during the period. Fifth Third Bancorp's holdings in Blackstone were worth $16,178,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Simon Quick Advisors LLC raised its position in shares of Blackstone by 31.7% during the 1st quarter. Simon Quick Advisors LLC now owns 7,042 shares of the asset manager's stock valued at $984,000 after acquiring an additional 1,697 shares in the last quarter. Zhang Financial LLC lifted its position in shares of Blackstone by 26.4% in the 1st quarter. Zhang Financial LLC now owns 12,090 shares of the asset manager's stock worth $1,690,000 after buying an additional 2,523 shares during the last quarter. Integral Investment Advisors Inc. grew its position in shares of Blackstone by 7.2% during the 1st quarter. Integral Investment Advisors Inc. now owns 1,852 shares of the asset manager's stock valued at $259,000 after buying an additional 125 shares during the last quarter. Sanibel Captiva Trust Company Inc. raised its stake in Blackstone by 2.9% during the first quarter. Sanibel Captiva Trust Company Inc. now owns 37,120 shares of the asset manager's stock worth $5,189,000 after acquiring an additional 1,055 shares during the period. Finally, SG Americas Securities LLC grew its holdings in shares of Blackstone by 243.1% during the first quarter. SG Americas Securities LLC now owns 133,325 shares of the asset manager's stock valued at $18,636,000 after purchasing an additional 94,464 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages recently commented on BX. Piper Sandler lowered their price objective on Blackstone from $182.00 to $140.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Keefe, Bruyette & Woods lowered their price target on shares of Blackstone from $141.00 to $139.00 and set a "market perform" rating for the company in a research report on Tuesday, April 22nd. Wells Fargo & Company lifted their price objective on shares of Blackstone from $139.00 to $153.00 and gave the company an "equal weight" rating in a research report on Friday, May 23rd. JMP Securities reaffirmed a "market outperform" rating and set a $165.00 price target on shares of Blackstone in a report on Thursday, April 24th. Finally, Citigroup decreased their price objective on Blackstone from $190.00 to $137.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, Blackstone has an average rating of "Hold" and a consensus price target of $155.65.
Read Our Latest Analysis on Blackstone
Blackstone Price Performance
NYSE:BX traded down $4.42 during trading hours on Friday, reaching $136.37. 3,021,337 shares of the company's stock were exchanged, compared to its average volume of 3,798,162. The business's 50-day simple moving average is $136.18 and its two-hundred day simple moving average is $156.23. The company has a market capitalization of $99.50 billion, a P/E ratio of 37.57, a price-to-earnings-growth ratio of 1.07 and a beta of 1.65. The company has a quick ratio of 0.71, a current ratio of 0.67 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.
Blackstone (NYSE:BX - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The asset manager reported $1.09 EPS for the quarter, missing analysts' consensus estimates of $1.22 by ($0.13). The firm had revenue of $2.76 billion for the quarter, compared to analysts' expectations of $2.95 billion. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. During the same period in the prior year, the company posted $0.98 earnings per share. Sell-side analysts expect that Blackstone Inc. will post 5.87 EPS for the current fiscal year.
Blackstone Cuts Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Monday, April 28th were paid a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 2.73%. The ex-dividend date of this dividend was Monday, April 28th. Blackstone's dividend payout ratio (DPR) is currently 112.05%.
Insider Transactions at Blackstone
In related news, insider Private Credit Stra Blackstone acquired 1,660,000 shares of the company's stock in a transaction on Thursday, May 1st. The shares were purchased at an average price of $15.00 per share, for a total transaction of $24,900,000.00. Following the purchase, the insider now owns 1,666,667 shares in the company, valued at $25,000,005. This represents a 24,898.76% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ruth Porat purchased 237 shares of the stock in a transaction dated Monday, May 5th. The shares were bought at an average price of $136.33 per share, for a total transaction of $32,310.21. Following the completion of the acquisition, the director now owns 37,067 shares in the company, valued at $5,053,344.11. This represents a 0.64% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.00% of the stock is currently owned by insiders.
About Blackstone
(
Free Report)
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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