86,004 Shares in Blackstone Inc. $BX Bought by Danica Pension Livsforsikringsaktieselskab

Danica Pension Livsforsikringsaktieselskab bought a new stake in Blackstone Inc. (NYSE:BX) during the 1st quarter, Holdings Channel.com reports. The institutional investor bought 86,004 shares of the asset manager’s stock, valued at approximately $9,890,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Brighton Jones LLC lifted its holdings in shares of Blackstone by 34.6% in the fourth quarter. Brighton Jones LLC now owns 7,917 shares of the asset manager’s stock valued at $1,365,000 after purchasing an additional 2,035 shares in the last quarter. Sivia Capital Partners LLC raised its position in shares of Blackstone by 9.3% during the 2nd quarter. Sivia Capital Partners LLC now owns 2,076 shares of the asset manager’s stock worth $310,000 after purchasing an additional 177 shares during the last quarter. United Bank lifted its stake in Blackstone by 14.7% in the 2nd quarter. United Bank now owns 13,528 shares of the asset manager’s stock valued at $2,024,000 after buying an additional 1,729 shares in the last quarter. Nebula Research & Development LLC purchased a new position in Blackstone during the second quarter worth $1,124,000. Finally, Sei Investments Co. raised its holdings in shares of Blackstone by 1.9% in the second quarter. Sei Investments Co. now owns 452,619 shares of the asset manager’s stock worth $67,703,000 after acquiring an additional 8,655 shares during the last quarter. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on BX. Piper Sandler upped their target price on shares of Blackstone from $122.00 to $130.00 and gave the company a “neutral” rating in a report on Monday, April 27th. Royal Bank Of Canada cut their price objective on shares of Blackstone from $173.00 to $161.00 and set an “outperform” rating for the company in a research report on Monday, July 13th. TD Cowen decreased their target price on shares of Blackstone from $140.00 to $133.00 and set a “buy” rating on the stock in a research report on Monday, May 18th. The Goldman Sachs Group cut their price target on Blackstone from $116.00 to $114.00 and set a “neutral” rating for the company in a report on Tuesday, June 30th. Finally, HSBC restated a “hold” rating and set a $135.00 price objective on shares of Blackstone in a report on Monday. Thirteen investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $145.71.

Blackstone Stock Performance

Shares of BX stock opened at $124.13 on Wednesday. Blackstone Inc. has a 52 week low of $101.73 and a 52 week high of $190.09. The company has a market cap of $92.21 billion, a PE ratio of 31.75, a P/E/G ratio of 1.35 and a beta of 1.58. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.66. The company’s fifty day simple moving average is $119.99 and its 200-day simple moving average is $125.27.

Blackstone (NYSE:BX) last announced its earnings results on Thursday, April 23rd. The asset manager reported $1.36 earnings per share 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 the consensus estimate of $3.45 billion. During the same period in the prior year, the firm earned $1.11 earnings per share. The business’s quarterly revenue was up 10.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Blackstone Inc. will post 5.83 EPS for the current year.

Insider Activity at Blackstone

In other Blackstone news, insider Vikrant Sawhney sold 30,014 shares of the firm’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $125.79, for a total transaction of $3,775,461.06. Following the completion of the transaction, the insider directly owned 899,669 shares of the company’s stock, valued at $113,169,363.51. This trade represents a 3.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ruth Porat bought 355 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was bought at an average cost of $123.04 per share, with a total value of $43,679.20. Following the transaction, the director directly owned 41,818 shares in the company, valued at approximately $5,145,286.72. The trade was a 0.86% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders bought 10,252,345 shares of company stock worth $209,789,893. 1.00% of the stock is currently owned by 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.