Blackstone Inc. $BX Shares Sold by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

by · The Cerbat Gem

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lowered its position in Blackstone Inc. (NYSE:BXFree Report) by 3.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 171,768 shares of the asset manager’s stock after selling 5,235 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Blackstone were worth $26,476,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in BX. REAP Financial Group LLC bought a new stake in shares of Blackstone in the 3rd quarter worth about $26,000. Redmont Wealth Advisors LLC bought a new stake in shares of Blackstone in the 3rd quarter worth about $30,000. Strive Asset Management LLC bought a new stake in shares of Blackstone in the 3rd quarter worth about $30,000. Family CFO Inc bought a new stake in shares of Blackstone in the 4th quarter worth about $28,000. Finally, Ares Financial Consulting LLC bought a new stake in shares of Blackstone in the 4th quarter worth about $28,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Buying and Selling at Blackstone

In other Blackstone news, major shareholder Treasury Holdings I. Blackstone bought 9,486,795 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The stock was acquired at an average cost of $20.00 per share, with a total value of $189,735,900.00. Following the completion of the purchase, the insider directly owned 9,111,800 shares in the company, valued at approximately $182,236,000. This trade represents a -2,529.85% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,504 shares of the stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $3.51, for a total transaction of $26,246,039.04. Following the sale, the insider directly owned 25,832 shares of the company’s stock, valued at approximately $90,670.32. This represents a 99.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders acquired 12,355,303 shares of company stock valued at $264,789,896 and sold 7,532,518 shares valued at $30,496,500. Company insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BX. BMO Capital Markets boosted their target price on shares of Blackstone from $126.00 to $132.00 and gave the stock an “outperform” rating in a research report on Monday, April 13th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Blackstone from $156.00 to $146.00 and set a “buy” rating for the company in a research report on Friday, April 24th. Dbs Bank raised shares of Blackstone to a “moderate buy” rating in a research report on Wednesday, May 27th. Citizens Jmp lowered their price objective on shares of Blackstone from $195.00 to $190.00 and set a “market outperform” rating for the company in a research report on Wednesday, April 22nd. Finally, Barclays lowered their price objective on shares of Blackstone from $126.00 to $124.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 8th. Twelve analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Blackstone has a consensus rating of “Hold” and a consensus target price of $151.05.

Read Our Latest Stock Report on BX

Key Headlines Impacting Blackstone

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Blackstone Trading Up 0.1%

Shares of NYSE:BX opened at $117.05 on Monday. The company has a 50 day moving average of $118.68 and a 200-day moving average of $132.60. The firm has a market cap of $86.95 billion, a P/E ratio of 29.93, a P/E/G ratio of 1.27 and a beta of 1.59. Blackstone Inc. has a twelve month low of $101.73 and a twelve month high of $190.09. 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 (NYSE:BXGet Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The asset manager reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.02. The company had revenue of $3.43 billion during the quarter, compared to analyst estimates of $3.45 billion. Blackstone had a net margin of 20.67% and a return on equity of 22.86%. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.11 EPS. As a group, analysts anticipate that Blackstone Inc. will post 5.9 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 11th. Stockholders of record on Monday, May 4th were paid a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend was Monday, May 4th. Blackstone’s dividend payout ratio is currently 118.67%.

Blackstone Profile

(Free Report)

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.

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