Rheos Capital Works Inc. Sells 11,000 Shares of Blackstone Inc. $BX

Rheos Capital Works Inc. decreased its holdings in shares of Blackstone Inc. (NYSE:BX) by 13.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 68,500 shares of the asset manager’s stock after selling 11,000 shares during the quarter. Rheos Capital Works Inc.’s holdings in Blackstone were worth $10,559,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. StrongBox Wealth LLC boosted its stake in Blackstone by 4.5% during the 4th quarter. StrongBox Wealth LLC now owns 22,298 shares of the asset manager’s stock valued at $3,437,000 after purchasing an additional 970 shares during the period. Country Trust Bank lifted its position in shares of Blackstone by 33.3% in the 4th quarter. Country Trust Bank now owns 271,880 shares of the asset manager’s stock worth $41,908,000 after acquiring an additional 67,847 shares during the period. Lakeshore Capital Group Inc. lifted its position in shares of Blackstone by 2.2% in the 4th quarter. Lakeshore Capital Group Inc. now owns 4,820 shares of the asset manager’s stock worth $743,000 after acquiring an additional 102 shares during the period. Jmac Enterprises LLC lifted its position in shares of Blackstone by 9.2% in the 4th quarter. Jmac Enterprises LLC now owns 9,500 shares of the asset manager’s stock worth $1,464,000 after acquiring an additional 800 shares during the period. Finally, Kaizen Financial Strategies lifted its position in shares of Blackstone by 0.8% in the 4th quarter. Kaizen Financial Strategies now owns 27,127 shares of the asset manager’s stock worth $4,181,000 after acquiring an additional 219 shares during the period. Institutional investors own 70.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on BX. Piper Sandler reduced their price objective on Blackstone from $168.00 to $158.00 and set a “neutral” rating for the company in a research report on Monday, February 2nd. Evercore reduced their price objective on Blackstone from $175.00 to $170.00 and set an “outperform” rating for the company in a research report on Friday, January 30th. Royal Bank Of Canada began coverage on Blackstone in a research report on Monday, February 23rd. They issued an “outperform” rating and a $179.00 price objective for the company. Bank of America reduced their price objective on Blackstone from $199.00 to $189.00 in a research report on Wednesday, December 10th. Finally, TD Cowen cut their target price on Blackstone from $183.00 to $164.00 and set a “buy” rating for the company in a research report on Thursday, February 12th. Ten analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, Blackstone presently has a consensus rating of “Hold” and an average target price of $162.10.

Insider Activity at Blackstone

In related news, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of the firm’s stock in a transaction on Friday, February 27th. The stock was sold at an average price of $10.00, for a total transaction of $15,961,420.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Holdings Iv Gp Mana Blackstone purchased 2,868,069 shares of the company’s stock in a transaction that occurred on Friday, March 20th. The shares were acquired at an average cost of $26.15 per share, with a total value of $75,000,004.35. Following the completion of the acquisition, the insider directly owned 18,628,295 shares in the company, valued at approximately $487,129,914.25. This represents a 18.20% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 1.00% of the company’s stock.

Blackstone Price Performance

Blackstone stock opened at $112.27 on Tuesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.76 and a quick ratio of 0.76. The company has a market capitalization of $83.32 billion, a PE ratio of 28.94, a price-to-earnings-growth ratio of 0.90 and a beta of 1.74. Blackstone Inc. has a one year low of $101.73 and a one year high of $190.09. The business has a 50 day simple moving average of $120.12 and a 200 day simple moving average of $142.94.

Blackstone (NYSE:BX) last posted its earnings results on Thursday, January 29th. The asset manager reported $1.75 EPS for the quarter, topping the consensus estimate of $1.54 by $0.21. The business had revenue of $4.36 billion during the quarter, compared to the consensus estimate of $3.69 billion. Blackstone had a return on equity of 22.17% and a net margin of 20.89%.Blackstone’s revenue was up 41.4% on a year-over-year basis. During the same quarter last year, the company earned $1.69 EPS. On average, sell-side analysts forecast that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 17th. Investors of record on Monday, February 9th were issued a dividend of $1.49 per share. The ex-dividend date of this dividend was Monday, February 9th. This represents a $5.96 dividend on an annualized basis and a yield of 5.3%. This is a positive change from Blackstone’s previous quarterly dividend of $1.29. Blackstone’s payout ratio is 153.61%.

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.