KBC Group NV Has $31.50 Million Stock Position in Blackstone Inc. $BX

KBC Group NV lessened its holdings in shares of Blackstone Inc. (NYSE:BX) by 41.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 273,901 shares of the asset manager’s stock after selling 190,415 shares during the period. KBC Group NV’s holdings in Blackstone were worth $31,496,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the business. Family CFO Inc acquired a new stake in shares of Blackstone during the fourth quarter worth approximately $28,000. Ares Financial Consulting LLC bought a new stake in Blackstone during the 4th quarter worth approximately $28,000. Richardson Financial Services Inc. acquired a new stake in Blackstone during the 4th quarter valued at $29,000. Strive Asset Management LLC bought a new stake in shares of Blackstone during the third quarter worth $30,000. Finally, Palladiem LLC bought a new position in shares of Blackstone in the fourth quarter valued at about $31,000. 70.00% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

BX has been the subject of several recent analyst reports. Barclays lowered their target price on shares of Blackstone from $124.00 to $119.00 and set an “equal weight” rating for the company in a research note on Thursday, July 9th. The Goldman Sachs Group lowered their price objective on shares of Blackstone from $116.00 to $114.00 and set a “neutral” rating for the company in a research report on Tuesday, June 30th. Dbs Bank upgraded Blackstone to a “moderate buy” rating in a report on Wednesday, May 27th. Morgan Stanley lowered their price target on Blackstone from $215.00 to $184.00 and set an “overweight” rating for the company in a report on Tuesday, April 21st. Finally, Argus cut their price objective on Blackstone from $163.00 to $146.00 and set a “buy” rating on the stock in a report on Tuesday, April 28th. Thirteen analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat, Blackstone has a consensus rating of “Moderate Buy” and an average price target of $145.71.

Blackstone Stock Performance

BX opened at $123.64 on Tuesday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.66. The stock has a market cap of $91.85 billion, a price-to-earnings ratio of 31.62, a PEG ratio of 1.37 and a beta of 1.58. Blackstone Inc. has a 12-month low of $101.73 and a 12-month high of $190.09. The business has a 50 day moving average of $119.97 and a 200-day moving average of $125.48.

Blackstone (NYSE:BX) last released its earnings results on Thursday, April 23rd. The asset manager reported $1.36 EPS for the quarter, beating the consensus estimate of $1.34 by $0.02. Blackstone had a net margin of 20.67% and a return on equity of 22.86%. The firm had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.45 billion. During the same period last year, the firm earned $1.11 EPS. The business’s quarterly revenue was up 10.0% compared to the same quarter last year. On average, equities research analysts expect that Blackstone Inc. will post 5.89 earnings per share for the current year.

Insider Buying and Selling

In other Blackstone news, major shareholder Private Multi-Asset Blackstone purchased 765,111 shares of the company’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were acquired at an average price of $26.14 per share, with a total value of $20,000,001.54. Following the transaction, the insider owned 7,882,145 shares in the company, valued at $206,039,270.30. The trade was a 10.75% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,500 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $3.78, for a total value of $28,264,950.00. Following the sale, the insider directly owned 19,374 shares of the company’s stock, valued at $73,233.72. This represents a 99.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders acquired 10,252,345 shares of company stock valued at $209,789,893 over the last 90 days. 1.00% of the stock is currently owned by corporate 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.