Blackstone Inc. $BX Shares Acquired by Vanguard Personalized Indexing Management LLC

Vanguard Personalized Indexing Management LLC increased its stake in Blackstone Inc. (NYSE:BX) by 6.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 92,630 shares of the asset manager’s stock after purchasing an additional 5,738 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Blackstone were worth $15,840,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Blackstone in the second quarter valued at about $1,071,348,000. Vanguard Group Inc. raised its holdings in shares of Blackstone by 2.2% during the second quarter. Vanguard Group Inc. now owns 69,492,377 shares of the asset manager’s stock worth $10,394,670,000 after purchasing an additional 1,494,796 shares during the last quarter. Lazard Asset Management LLC grew its position in Blackstone by 31.9% during the 2nd quarter. Lazard Asset Management LLC now owns 3,803,344 shares of the asset manager’s stock worth $568,902,000 after purchasing an additional 919,773 shares during the period. Canada Pension Plan Investment Board lifted its holdings in shares of Blackstone by 115.4% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,088,786 shares of the asset manager’s stock valued at $162,861,000 after buying an additional 583,384 shares during the period. Finally, Amundi grew its holdings in Blackstone by 19.9% during the second quarter. Amundi now owns 2,904,030 shares of the asset manager’s stock worth $444,494,000 after acquiring an additional 482,528 shares during the period. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Stock Performance

BX opened at $150.47 on Monday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. The firm’s 50-day moving average price is $152.31 and its 200 day moving average price is $161.38. Blackstone Inc. has a twelve month low of $115.66 and a twelve month high of $190.09. The firm has a market capitalization of $111.11 billion, a PE ratio of 42.99, a PEG ratio of 1.06 and a beta of 1.75.

Blackstone (NYSE:BX) last posted its quarterly earnings results on Thursday, October 23rd. The asset manager reported $1.52 EPS for the quarter, beating the consensus estimate of $1.23 by $0.29. The firm had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.14 billion. Blackstone had a return on equity of 22.30% and a net margin of 20.56%.The business’s revenue for the quarter was down 15.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.02 earnings per share. As a group, sell-side analysts expect that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Piper Sandler dropped their price objective on shares of Blackstone from $173.00 to $168.00 and set a “neutral” rating on the stock in a research note on Friday, October 24th. JPMorgan Chase & Co. cut their price objective on shares of Blackstone from $177.00 to $176.00 and set a “neutral” rating for the company in a report on Friday, October 24th. BMO Capital Markets dropped their target price on Blackstone from $190.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, October 27th. Rothschild & Co Redburn reduced their price target on Blackstone from $168.00 to $165.00 and set a “neutral” rating for the company in a report on Thursday, January 15th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Blackstone in a research report on Wednesday. Nine equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat, Blackstone currently has an average rating of “Hold” and a consensus price target of $177.25.

Insider Activity

In related news, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of the stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $10.00, for a total value of $15,961,420.00. Following the completion of the transaction, the insider directly owned 2,161 shares in the company, valued at approximately $21,610. This represents a 99.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ruth Porat bought 324 shares of the stock in a transaction on Monday, November 10th. The shares were bought at an average cost of $146.92 per share, with a total value of $47,602.08. Following the purchase, the director owned 39,077 shares of the company’s stock, valued at $5,741,192.84. This trade represents a 0.84% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders bought a total of 797,148 shares of company stock worth $24,050,153 in the last 90 days. 1.00% of the stock is owned by corporate insiders.

Blackstone Company Profile

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.