Janus Henderson Group PLC Buys 19,429 Shares of Blackstone Inc. $BX

Janus Henderson Group PLC lifted its stake in Blackstone Inc. (NYSE:BX) by 0.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 8,252,293 shares of the asset manager’s stock after purchasing an additional 19,429 shares during the quarter. Blackstone comprises about 0.6% of Janus Henderson Group PLC’s holdings, making the stock its 27th biggest position. Janus Henderson Group PLC’s holdings in Blackstone were worth $1,259,169,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in BX. Family CFO Inc bought a new position in shares of Blackstone in the fourth quarter worth about $28,000. Ares Financial Consulting LLC bought a new position in Blackstone in the 4th quarter worth approximately $28,000. Richardson Financial Services Inc. bought a new position in Blackstone in the 4th quarter worth approximately $29,000. Redmont Wealth Advisors LLC bought a new position in Blackstone in the 3rd quarter worth approximately $30,000. Finally, Strive Asset Management LLC bought a new position in Blackstone in the 3rd quarter worth approximately $30,000. Institutional investors own 70.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BX. Weiss Ratings downgraded Blackstone from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 4th. Piper Sandler upped their price target on Blackstone from $122.00 to $130.00 and gave the stock a “neutral” rating in a research note on Monday, April 27th. Rothschild & Co Redburn dropped their price target on Blackstone from $134.00 to $130.00 and set a “neutral” rating for the company in a research note on Tuesday, June 9th. Jefferies Financial Group lifted their price objective on Blackstone from $143.00 to $152.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Finally, Zacks Research raised Blackstone from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. Thirteen investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $150.86.

Blackstone Stock Performance

NYSE:BX opened at $124.89 on Thursday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.76 and a quick ratio of 0.76. Blackstone Inc. has a 1 year low of $101.73 and a 1 year high of $190.09. The stock’s 50 day simple moving average is $120.76 and its two-hundred day simple moving average is $130.56. The company has a market cap of $92.78 billion, a price-to-earnings ratio of 31.94, a PEG ratio of 1.39 and a beta of 1.59.

Blackstone (NYSE:BX) last released its quarterly earnings data on Thursday, April 23rd. The asset manager reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.02. The business had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.45 billion. Blackstone had a return on equity of 22.86% and a net margin of 20.67%.The company’s revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.11 EPS. As a group, equities analysts anticipate that Blackstone Inc. will post 5.9 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 11th. Stockholders of record on Monday, May 4th were given a dividend of $1.16 per share. The ex-dividend date of this dividend was Monday, May 4th. This represents a $4.64 annualized dividend and a dividend yield of 3.7%. Blackstone’s payout ratio is currently 118.67%.

Insider Buying and Selling

In other news, insider Vikrant Sawhney sold 30,014 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $125.79, for a total transaction of $3,775,461.06. Following the transaction, the insider owned 899,669 shares of the company’s stock, valued at approximately $113,169,363.51. The trade was a 3.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Holdings Iv Gp Mana Blackstone bought 2,868,069 shares of the business’s stock in a transaction dated Friday, March 20th. The shares were bought at an average cost of $26.15 per share, for a total transaction of $75,000,004.35. Following the transaction, the insider owned 18,628,295 shares in the company, valued at approximately $487,129,914.25. The trade was a 18.20% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders bought 12,355,303 shares of company stock worth $264,789,896. 1.00% of the stock is owned by company insiders.

Blackstone 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.