Leonteq Securities AG Purchases 31,905 Shares of Blackstone Inc. $BX

Leonteq Securities AG raised its holdings in shares of Blackstone Inc. (NYSE:BX) by 470.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,686 shares of the asset manager’s stock after purchasing an additional 31,905 shares during the quarter. Leonteq Securities AG’s holdings in Blackstone were worth $4,449,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Redwood Financial Network Corp increased its position in shares of Blackstone by 1.8% during the second quarter. Redwood Financial Network Corp now owns 3,588 shares of the asset manager’s stock worth $537,000 after acquiring an additional 65 shares in the last quarter. Benchmark Financial Wealth Advisors LLC boosted its stake in Blackstone by 0.9% during the 4th quarter. Benchmark Financial Wealth Advisors LLC now owns 7,748 shares of the asset manager’s stock valued at $1,194,000 after purchasing an additional 69 shares during the last quarter. Parcion Private Wealth LLC increased its holdings in Blackstone by 0.6% during the 4th quarter. Parcion Private Wealth LLC now owns 10,935 shares of the asset manager’s stock worth $1,686,000 after purchasing an additional 70 shares in the last quarter. Trivium Point Advisory LLC raised its stake in shares of Blackstone by 2.6% in the fourth quarter. Trivium Point Advisory LLC now owns 2,713 shares of the asset manager’s stock worth $418,000 after purchasing an additional 70 shares during the last quarter. Finally, Zacks Investment Management boosted its position in shares of Blackstone by 2.1% during the third quarter. Zacks Investment Management now owns 3,453 shares of the asset manager’s stock valued at $590,000 after buying an additional 71 shares during the last quarter. 70.00% of the stock is owned by institutional investors.

Insider Buying and Selling at Blackstone

In other news, major shareholder Private Multi-Asset Blackstone acquired 765,111 shares of Blackstone stock in a transaction on Tuesday, June 23rd. The stock was acquired at an average cost of $26.14 per share, with a total value of $20,000,001.54. Following the completion of the acquisition, the insider owned 7,882,145 shares in the company, valued at approximately $206,039,270.30. This trade represents a 10.75% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Vikrant Sawhney sold 30,014 shares of the business’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $125.79, for a total value of $3,775,461.06. Following the completion of the sale, the insider owned 899,669 shares in the company, valued at approximately $113,169,363.51. The trade was a 3.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders purchased 10,252,345 shares of company stock valued at $209,789,893 in the last quarter. Insiders own 1.00% of the company’s stock.

Blackstone Trading Up 2.7%

NYSE BX opened at $122.73 on Friday. The stock has a market capitalization of $91.17 billion, a price-to-earnings ratio of 31.39, a PEG ratio of 1.30 and a beta of 1.58. The business’s fifty day moving average is $119.82 and its 200-day moving average is $128.06. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.76 and a quick ratio of 0.76. Blackstone Inc. has a one year low of $101.73 and a one year high of $190.09.

Blackstone (NYSE:BX) last posted its quarterly earnings data 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. The business had revenue of $3.43 billion during the quarter, compared to the consensus estimate of $3.45 billion. Blackstone had a net margin of 20.67% and a return on equity of 22.86%. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.11 earnings per share. Equities research analysts predict that Blackstone Inc. will post 5.9 EPS for the current year.

Blackstone Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 11th. Investors of record on Monday, May 4th were issued a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend was Monday, May 4th. Blackstone’s payout ratio is 118.67%.

Wall Street Analysts Forecast Growth

BX has been the subject of a number of analyst reports. Piper Sandler increased their price target on Blackstone from $122.00 to $130.00 and gave the company a “neutral” rating in a research report on Monday, April 27th. Oppenheimer upped their target price on shares of Blackstone from $154.00 to $156.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. Barclays lowered their target price on shares of Blackstone from $126.00 to $124.00 and set an “equal weight” rating for the company in a report on Wednesday, April 8th. Argus cut their price target on shares of Blackstone from $163.00 to $146.00 and set a “buy” rating on the stock in a report on Tuesday, April 28th. Finally, The Goldman Sachs Group decreased their price objective on shares of Blackstone from $116.00 to $114.00 and set a “neutral” rating for the company in a research note on Tuesday. Thirteen analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat, Blackstone has an average rating of “Moderate Buy” and a consensus target price of $149.36.

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.