Mackenzie Financial Corp Sells 214,502 Shares of Blackstone Inc. (NYSE:BX)

Mackenzie Financial Corp trimmed its stake in shares of Blackstone Inc. (NYSE:BX - Free Report) by 17.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,040,790 shares of the asset manager's stock after selling 214,502 shares during the quarter. Mackenzie Financial Corp owned approximately 0.14% of Blackstone worth $145,482,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Ascent Group LLC increased its holdings in Blackstone by 0.9% in the fourth quarter. Ascent Group LLC now owns 8,522 shares of the asset manager's stock worth $1,469,000 after purchasing an additional 74 shares in the last quarter. Global Assets Advisory LLC increased its holdings in Blackstone by 1.9% in the fourth quarter. Global Assets Advisory LLC now owns 4,013 shares of the asset manager's stock worth $697,000 after purchasing an additional 75 shares in the last quarter. Angeles Wealth Management LLC increased its holdings in Blackstone by 0.6% in the first quarter. Angeles Wealth Management LLC now owns 11,819 shares of the asset manager's stock worth $1,652,000 after purchasing an additional 76 shares in the last quarter. Aptus Capital Advisors LLC increased its holdings in Blackstone by 0.9% in the fourth quarter. Aptus Capital Advisors LLC now owns 8,466 shares of the asset manager's stock worth $1,460,000 after purchasing an additional 78 shares in the last quarter. Finally, Loomis Sayles & Co. L P increased its holdings in shares of Blackstone by 8.3% during the fourth quarter. Loomis Sayles & Co. L P now owns 1,027 shares of the asset manager's stock valued at $177,000 after acquiring an additional 79 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Citizens Jmp upgraded Blackstone from a "market perform" rating to an "outperform" rating and set a $165.00 price objective for the company in a report on Tuesday, April 8th. The Goldman Sachs Group restated a "neutral" rating on shares of Blackstone in a report on Friday. Citigroup restated a "market perform" rating on shares of Blackstone in a report on Saturday, July 19th. UBS Group decreased their price objective on Blackstone from $180.00 to $175.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Finally, Barclays lifted their target price on Blackstone from $168.00 to $181.00 and gave the company an "equal weight" rating in a research report on Friday. Ten analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $170.12.

Blackstone Stock Down 0.7%

Shares of NYSE BX opened at $176.82 on Tuesday. Blackstone Inc. has a one year low of $115.66 and a one year high of $200.96. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.74 and a quick ratio of 0.75. The business's fifty day moving average price is $149.73 and its 200-day moving average price is $150.43. The stock has a market capitalization of $129.02 billion, a PE ratio of 47.53, a P/E/G ratio of 1.55 and a beta of 1.65.

Blackstone (NYSE:BX - Get Free Report) last issued its quarterly 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 firm had revenue of $3.07 billion for the quarter, compared to analysts' expectations of $2.77 billion. Blackstone had a return on equity of 20.47% and a net margin of 20.83%. The business's revenue for the quarter was up 32.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.98 EPS. On average, equities research analysts anticipate that Blackstone Inc. will post 5.87 EPS for the current 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 issued a dividend of $1.03 per share. This is a boost from Blackstone's previous quarterly dividend of $0.93. The ex-dividend date is Monday, August 4th. This represents a $4.12 dividend on an annualized basis and a yield of 2.33%. Blackstone's dividend payout ratio is 100.00%.

Insider Buying and Selling

In other Blackstone news, insider Private Credit Stra Blackstone bought 1,660,000 shares of the firm's stock in a transaction on Thursday, May 1st. The shares were acquired at an average cost of $15.00 per share, for a total transaction of $24,900,000.00. Following the purchase, the insider directly owned 1,666,667 shares of the company's stock, valued at $25,000,005. The trade was 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 is available through the SEC website. Also, Director Ruth Porat bought 237 shares of the firm's stock in a transaction on Monday, May 5th. The stock was acquired at an average price of $136.33 per share, for a total transaction of $32,310.21. Following the completion of the purchase, the director directly owned 37,067 shares in the company, valued at approximately $5,053,344.11. The trade was a 0.64% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 2,849,769 shares of company stock worth $54,932,307. Company insiders own 1.00% of the company's stock.

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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