Treasurer of the State of North Carolina Purchases 11,577 Shares of Blackstone Inc. $BX

by · The Cerbat Gem

Treasurer of the State of North Carolina raised its position in shares of Blackstone Inc. (NYSE:BX – Free Report) by 3.5% in the 2nd quarter, Holdings Channel reports. The firm owned 341,912 shares of the asset manager’s stock after acquiring an additional 11,577 shares during the period. Treasurer of the State of North Carolina’s holdings in Blackstone were worth $51,143,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Brighton Jones LLC lifted its position in shares of Blackstone by 34.6% during the 4th quarter. Brighton Jones LLC now owns 7,917 shares of the asset manager’s stock worth $1,365,000 after buying an additional 2,035 shares during the last quarter. Prudential PLC lifted its holdings in shares of Blackstone by 17.9% in the first quarter. Prudential PLC now owns 12,604 shares of the asset manager’s stock worth $1,762,000 after acquiring an additional 1,918 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Blackstone by 5.4% in the 1st quarter. Russell Investments Group Ltd. now owns 373,390 shares of the asset manager’s stock valued at $52,148,000 after purchasing an additional 19,171 shares in the last quarter. National Pension Service increased its position in Blackstone by 5.3% during the 1st quarter. National Pension Service now owns 1,415,651 shares of the asset manager’s stock worth $197,880,000 after purchasing an additional 70,850 shares in the last quarter. Finally, S Bank Fund Management Ltd acquired a new stake in Blackstone in the first quarter valued at approximately $625,000. Institutional investors own 70.00% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on BX shares. Keefe, Bruyette & Woods dropped their price target on Blackstone from $180.00 to $171.00 and set a “market perform” rating for the company in a research note on Monday, October 13th. Bank of America cut their price target on Blackstone from $199.00 to $189.00 in a research note on Wednesday. BMO Capital Markets lowered their price objective on Blackstone from $190.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, October 27th. Citigroup cut their target price on shares of Blackstone from $185.00 to $170.00 and set a “neutral” rating on the stock in a research report on Monday, October 13th. Finally, Morgan Stanley raised their price target on shares of Blackstone from $200.00 to $215.00 and gave the company an “overweight” rating in a research note on Tuesday, October 21st. Ten analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $178.47.

Get Our Latest Stock Analysis on Blackstone

Blackstone Stock Down 1.6%

Blackstone stock opened at $154.05 on Friday. The firm has a 50 day moving average price of $150.76 and a two-hundred day moving average price of $158.44. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 0.75. Blackstone Inc. has a 52-week low of $115.66 and a 52-week high of $192.17. The firm has a market cap of $113.76 billion, a price-to-earnings ratio of 44.01, a PEG ratio of 1.25 and a beta of 1.76.

Blackstone (NYSE:BX – Get Free Report) last announced its earnings results on Friday, November 22nd. The asset manager reported $0.97 earnings per share for the quarter. Blackstone had a net margin of 20.56% and a return on equity of 22.30%. The business had revenue of $2.49 billion during the quarter. Equities analysts predict that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 10th. Shareholders of record on Monday, November 3rd were issued a $1.29 dividend. The ex-dividend date was Monday, November 3rd. This is an increase from Blackstone’s previous quarterly dividend of $1.03. This represents a $5.16 dividend on an annualized basis and a yield of 3.3%. Blackstone’s dividend payout ratio is presently 147.43%.

Insider Activity

In related news, major shareholder Private Multi-Asset Blackstone purchased 2,538,071 shares of the firm’s stock in a transaction on Monday, September 22nd. The stock was purchased at an average cost of $25.61 per share, with a total value of $64,999,998.31. Following the completion of the purchase, the insider owned 7,506,209 shares in the company, valued at approximately $192,234,012.49. This trade represents a 51.09% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James Breyer acquired 13,900 shares of the business’s stock in a transaction dated Tuesday, November 4th. The shares were bought at an average cost of $143.86 per share, for a total transaction of $1,999,654.00. Following the transaction, the director directly owned 68,906 shares in the company, valued at approximately $9,912,817.16. This represents a 25.27% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders purchased 2,950,751 shares of company stock worth $79,050,138. Company insiders own 1.00% of the company’s stock.

Blackstone Company Profile

(Free Report)

Blackstone Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, public debt and equity and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services.

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