Mangrove Partners IM LLC Acquires Shares of 7,164 Blackstone Inc. $BX

Mangrove Partners IM LLC acquired a new stake in shares of Blackstone Inc. (NYSE:BX) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 7,164 shares of the asset manager’s stock, valued at approximately $1,104,000.

Other institutional investors have also added to or reduced their stakes in the company. Family CFO Inc purchased a new stake in Blackstone during the 4th quarter valued at approximately $28,000. Ares Financial Consulting LLC purchased a new position in shares of Blackstone in the fourth quarter valued at $28,000. Richardson Financial Services Inc. purchased a new position in shares of Blackstone in the fourth quarter valued at $29,000. Redmont Wealth Advisors LLC purchased a new position in shares of Blackstone in the third quarter valued at $30,000. Finally, Strive Asset Management LLC purchased a new position in shares of Blackstone in the third quarter valued at $30,000. 70.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. UBS Group cut their target price on shares of Blackstone from $171.00 to $137.00 and set a “neutral” rating for the company in a report on Friday, February 20th. JPMorgan Chase & Co. cut their target price 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. Jefferies Financial Group raised their target price on shares of Blackstone from $143.00 to $152.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. The Goldman Sachs Group lowered their price target on Blackstone from $118.00 to $116.00 and set a “neutral” rating for the company in a research report on Friday, April 24th. Finally, Sanford C. Bernstein assumed coverage on Blackstone in a research report on Monday, June 8th. They issued an “outperform” rating for the company. Thirteen analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $150.86.

Blackstone Stock Up 2.6%

Shares of BX opened at $127.89 on Wednesday. The company has a market cap of $95.01 billion, a PE ratio of 32.71, a P/E/G ratio of 1.35 and a beta of 1.59. The business has a fifty day moving average of $120.51 and a 200 day moving average of $130.70. Blackstone Inc. has a 52-week low of $101.73 and a 52-week high of $190.09. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.66.

Blackstone (NYSE:BX) last issued its quarterly earnings results 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. Blackstone had a return on equity of 22.86% and a net margin of 20.67%.The company had revenue of $3.43 billion during the quarter, compared to the consensus estimate of $3.45 billion. During the same period last year, the company earned $1.11 earnings per share. Blackstone’s revenue was up 10.0% on a year-over-year basis. On average, sell-side analysts expect that Blackstone Inc. will post 5.9 EPS for the current year.

Blackstone Cuts Dividend

The firm 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. This represents a $4.64 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Monday, May 4th. Blackstone’s dividend payout ratio (DPR) is 118.67%.

Insiders Place Their Bets

In other Blackstone news, major shareholder Treasury Holdings I. Blackstone bought 9,486,795 shares of the firm’s stock in a transaction dated Friday, May 15th. The stock was acquired at an average cost of $20.00 per share, for a total transaction of $189,735,900.00. Following the completion of the transaction, the insider owned 9,111,800 shares in the company, valued at $182,236,000. This trade represents a -2,529.85% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Holdings Iv Gp Mana Blackstone bought 2,868,069 shares of the firm’s stock in a transaction dated Friday, March 20th. The shares were acquired at an average price of $26.15 per share, with a total value of $75,000,004.35. Following the completion of the transaction, the insider owned 18,628,295 shares of the company’s stock, valued at approximately $487,129,914.25. The trade was a 18.20% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 12,355,303 shares of company stock valued at $264,789,896 in the last three months. 1.00% of the stock is owned by company insiders.

About Blackstone

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.