Mackenzie Financial Corp Has $216.44 Million Position in Blackstone Inc. (NYSE:BX)

Mackenzie Financial Corp boosted its holdings in Blackstone Inc. (NYSE:BX - Free Report) by 6.0% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,255,292 shares of the asset manager's stock after buying an additional 71,426 shares during the period. Mackenzie Financial Corp owned approximately 0.17% of Blackstone worth $216,437,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Hager Investment Management Services LLC purchased a new stake in shares of Blackstone during the fourth quarter valued at approximately $28,000. Centricity Wealth Management LLC purchased a new stake in shares of Blackstone during the fourth quarter valued at approximately $30,000. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Blackstone during the fourth quarter valued at approximately $33,000. Berbice Capital Management LLC purchased a new stake in shares of Blackstone during the fourth quarter valued at approximately $34,000. Finally, Comprehensive Financial Planning Inc. PA acquired a new stake in shares of Blackstone during the fourth quarter worth approximately $34,000. Hedge funds and other institutional investors own 70.00% of the company's stock.

Insiders Place Their Bets

In other Blackstone news, insider Private Credit Stra Blackstone bought 1,660,000 shares of the stock in a transaction on Thursday, May 1st. The shares were bought at an average price of $15.00 per share, with a total value of $24,900,000.00. Following the purchase, the insider now directly owns 1,666,667 shares in the company, valued at $25,000,005. The trade was a 24,898.76% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John G. Finley sold 25,000 shares of Blackstone stock in a transaction dated 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 now directly owns 475,336 shares in the company, valued at approximately $65,819,775.92. This trade represents a 5.00% decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

Blackstone Stock Performance

Shares of BX traded down $0.15 during midday trading on Thursday, hitting $138.26. 1,042,516 shares of the stock traded hands, compared to its average volume of 4,508,113. The firm has a market capitalization of $100.88 billion, a PE ratio of 38.07, a price-to-earnings-growth ratio of 1.07 and a beta of 1.67. The business's 50 day moving average price is $136.36 and its two-hundred day moving average price is $159.75. Blackstone Inc. has a 1-year low of $115.66 and a 1-year high of $200.96. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67.

Blackstone (NYSE:BX - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The asset manager reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.22 by ($0.13). The company had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.95 billion. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. During the same period in the previous year, the company earned $0.98 EPS. Equities research analysts predict that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Monday, April 28th were issued a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 2.69%. The ex-dividend date was Monday, April 28th. Blackstone's payout ratio is currently 112.05%.

Wall Street Analysts Forecast Growth

BX has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised their price target on shares of Blackstone from $149.00 to $154.00 and gave the stock a "neutral" rating in a research report on Friday, January 31st. Keefe, Bruyette & Woods decreased 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 raised their price target on shares of Blackstone from $139.00 to $153.00 and gave the stock an "equal weight" rating in a research report on Friday, May 23rd. Wall Street Zen downgraded shares of Blackstone from a "buy" rating to a "hold" rating in a research report on Friday, January 31st. Finally, Bank of America decreased their price objective on shares of Blackstone from $219.00 to $207.00 and set a "buy" rating for the company in a report on Friday, April 4th. Ten equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $155.65.

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.