MGO One Seven LLC Increases Stake in Blackstone Inc. $BX

MGO One Seven LLC increased its position in shares of Blackstone Inc. (NYSE:BX) by 39.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 42,244 shares of the asset manager’s stock after purchasing an additional 11,847 shares during the quarter. MGO One Seven LLC’s holdings in Blackstone were worth $6,511,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Jain Global LLC purchased a new position in Blackstone during the 3rd quarter worth $9,116,000. Fayez Sarofim & Co lifted its holdings in shares of Blackstone by 1.9% in the 3rd quarter. Fayez Sarofim & Co now owns 1,270,608 shares of the asset manager’s stock worth $217,083,000 after buying an additional 24,237 shares during the period. Natixis Advisors LLC increased its stake in shares of Blackstone by 20.4% during the third quarter. Natixis Advisors LLC now owns 840,401 shares of the asset manager’s stock valued at $143,582,000 after buying an additional 142,479 shares during the period. Close Asset Management Ltd lifted its stake in Blackstone by 16,035.1% in the third quarter. Close Asset Management Ltd now owns 1,140,264 shares of the asset manager’s stock worth $194,746,000 after acquiring an additional 1,133,197 shares during the period. Finally, Whittier Trust Co. grew its holdings in Blackstone by 2.1% during the 3rd quarter. Whittier Trust Co. now owns 346,318 shares of the asset manager’s stock worth $58,337,000 after acquiring an additional 7,053 shares in the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on BX shares. Royal Bank Of Canada set a $173.00 price target on shares of Blackstone in a research report on Friday, April 24th. TD Cowen lowered their target price on Blackstone from $141.00 to $140.00 and set a “buy” rating for the company in a report on Friday, April 24th. Argus cut their price target on Blackstone from $163.00 to $146.00 and set a “buy” rating on the stock in a report on Tuesday, April 28th. Weiss Ratings cut Blackstone from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday. Finally, Rothschild & Co Redburn cut their price objective on shares of Blackstone from $138.00 to $134.00 and set a “neutral” rating on the stock in a research report on Friday, April 24th. Eleven equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Blackstone presently has a consensus rating of “Hold” and an average price target of $150.95.

Blackstone Price Performance

Shares of NYSE BX opened at $123.64 on Friday. Blackstone Inc. has a fifty-two week low of $101.73 and a fifty-two week high of $190.09. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.76 and a current ratio of 0.76. The company has a market cap of $91.76 billion, a PE ratio of 31.62, a P/E/G ratio of 1.33 and a beta of 1.63. The business has a 50-day simple moving average of $116.32 and a two-hundred day simple moving average of $136.17.

Blackstone (NYSE:BX) last released its earnings results on Thursday, April 23rd. The asset manager reported $1.36 EPS 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 analysts’ expectations of $3.45 billion. Blackstone had a net margin of 20.67% and a return on equity of 22.86%. Blackstone’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period last year, the business earned $1.11 EPS. As a group, equities analysts expect that Blackstone Inc. will post 5.91 EPS for the current fiscal year.

Blackstone Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 11th. Shareholders of record on Monday, May 4th will be given a dividend of $1.16 per share. The ex-dividend date of this dividend is Monday, May 4th. This represents a $4.64 dividend on an annualized basis and a yield of 3.8%. Blackstone’s payout ratio is currently 118.67%.

Insider Transactions at Blackstone

In related news, 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 value of $26,246,039.04. Following the transaction, the insider owned 25,832 shares in the company, valued at approximately $90,670.32. This represents a 99.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Holdings Iv Gp Mana Blackstone acquired 2,868,069 shares of the firm’s stock in a transaction on 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 purchase, the insider owned 18,628,295 shares in the company, valued at approximately $487,129,914.25. This trade represents a 18.20% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold a total of 9,103,660 shares of company stock worth $45,982,920 in the last 90 days. 1.00% of the stock is owned by company 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.