Blackstone Inc. $BX Shares Purchased by OLD National Bancorp IN

OLD National Bancorp IN raised its position in shares of Blackstone Inc. (NYSE:BX) by 32.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 64,294 shares of the asset manager’s stock after buying an additional 15,701 shares during the period. OLD National Bancorp IN’s holdings in Blackstone were worth $7,393,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of BX. Jain Global LLC acquired a new position in shares of Blackstone in the third quarter worth $9,116,000. Fayez Sarofim & Co raised its stake in shares of Blackstone by 1.9% in the third quarter. Fayez Sarofim & Co now owns 1,270,608 shares of the asset manager’s stock valued at $217,083,000 after acquiring an additional 24,237 shares in the last quarter. Natixis Advisors LLC boosted its holdings in Blackstone by 20.4% in the third quarter. Natixis Advisors LLC now owns 840,401 shares of the asset manager’s stock valued at $143,582,000 after purchasing an additional 142,479 shares during the period. Close Asset Management Ltd increased its holdings in Blackstone by 16,035.1% during the 3rd quarter. Close Asset Management Ltd now owns 1,140,264 shares of the asset manager’s stock worth $194,746,000 after purchasing an additional 1,133,197 shares during the period. Finally, Mackenzie Financial Corp raised its position in Blackstone by 2.1% in the 3rd quarter. Mackenzie Financial Corp now owns 904,237 shares of the asset manager’s stock valued at $154,489,000 after purchasing an additional 18,339 shares in the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insiders Place Their Bets

In other Blackstone news, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,500 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $3.78, for a total value of $28,264,950.00. Following the completion of the sale, the insider owned 19,374 shares in the company, valued at approximately $73,233.72. The trade was a 99.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Private Multi-Asset Blackstone bought 765,111 shares of the stock in a transaction dated Tuesday, June 23rd. The shares were acquired at an average price of $26.14 per share, for a total transaction of $20,000,001.54. Following the completion of the transaction, the insider owned 7,882,145 shares of the company’s stock, valued at approximately $206,039,270.30. The trade was a 10.75% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders bought 10,252,345 shares of company stock worth $209,789,893. Corporate insiders own 1.00% of the company’s stock.

Blackstone Stock Up 1.3%

BX stock opened at $115.66 on Friday. The stock has a market cap of $85.92 billion, a P/E ratio of 29.58, a PEG ratio of 1.24 and a beta of 1.59. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.66. Blackstone Inc. has a twelve month low of $101.73 and a twelve month high of $190.09. The company’s 50 day moving average is $120.62 and its two-hundred day moving average is $129.22.

Blackstone (NYSE:BX) last issued its earnings results on Thursday, April 23rd. The asset manager reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.02. Blackstone had a net margin of 20.67% and a return on equity of 22.86%. The business had revenue of $3.43 billion during the quarter, compared to analysts’ expectations of $3.45 billion. During the same quarter in the prior year, the business posted $1.11 EPS. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. Research analysts expect that Blackstone Inc. will post 5.9 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 11th. Shareholders of record on Monday, May 4th were issued 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 4.0%. Blackstone’s dividend payout ratio (DPR) is presently 118.67%.

Wall Street Analysts Forecast Growth

BX has been the topic of a number of recent research reports. Weiss Ratings lowered shares of Blackstone from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 4th. JPMorgan Chase & Co. lowered their price target on shares of Blackstone from $142.00 to $136.00 and set a “neutral” rating for the company in a report on Friday, April 24th. Evercore reissued an “outperform” rating and issued a $150.00 price objective on shares of Blackstone in a research report on Tuesday, April 21st. HSBC decreased their price objective on shares of Blackstone from $164.00 to $131.00 and set a “hold” rating for the company in a research report on Friday, April 10th. Finally, Barclays dropped their target price on Blackstone from $126.00 to $124.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 8th. Thirteen analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $150.86.

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.