UniSuper Management Pty Ltd Boosts Holdings in Blackstone Inc. $BX

UniSuper Management Pty Ltd grew its stake in shares of Blackstone Inc. (NYSE:BX) by 16.1% in the third quarter, Holdings Channel reports. The fund owned 56,030 shares of the asset manager’s stock after acquiring an additional 7,768 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Blackstone were worth $9,573,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Blackstone by 2.2% in the second quarter. Vanguard Group Inc. now owns 69,492,377 shares of the asset manager’s stock worth $10,394,670,000 after acquiring an additional 1,494,796 shares during the period. Redmond Asset Management LLC boosted its stake in Blackstone by 21.2% in the 2nd quarter. Redmond Asset Management LLC now owns 18,785 shares of the asset manager’s stock worth $2,810,000 after purchasing an additional 3,281 shares during the period. Bourgeon Capital Management LLC bought a new stake in shares of Blackstone during the second quarter valued at about $423,000. Exchange Traded Concepts LLC boosted its position in shares of Blackstone by 733.2% in the third quarter. Exchange Traded Concepts LLC now owns 13,715 shares of the asset manager’s stock valued at $2,343,000 after acquiring an additional 12,069 shares during the period. Finally, Longfellow Investment Management Co. LLC lifted its stake in Blackstone by 259.8% in the 2nd quarter. Longfellow Investment Management Co. LLC now owns 22,160 shares of the asset manager’s stock worth $3,315,000 after purchasing an additional 16,001 shares in the last quarter. 70.00% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, major shareholder Holdings Iv Gp Mana Blackstone acquired 385,208 shares of the stock in a transaction on Friday, November 21st. The stock was purchased at an average price of $25.96 per share, for a total transaction of $9,999,999.68. Following the completion of the transaction, the insider owned 16,332,883 shares of the company’s stock, valued at $424,001,642.68. This trade represents a 2.42% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director James Breyer bought 13,900 shares of the business’s stock in a transaction dated Tuesday, November 4th. The stock was purchased at an average price of $143.86 per share, for a total transaction of $1,999,654.00. Following the acquisition, the director directly owned 68,906 shares of the company’s stock, valued at approximately $9,912,817.16. The trade was a 25.27% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 797,148 shares of company stock valued at $24,050,153 over the last quarter. Company insiders own 1.00% of the company’s stock.

Blackstone Price Performance

Shares of Blackstone stock opened at $150.47 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 0.75. The stock has a market capitalization of $111.11 billion, a price-to-earnings ratio of 42.99, a price-to-earnings-growth ratio of 1.06 and a beta of 1.75. The company has a fifty day moving average of $152.31 and a 200-day moving average of $161.36. Blackstone Inc. has a 52-week low of $115.66 and a 52-week high of $190.09.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Thursday, October 23rd. The asset manager reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.29. Blackstone had a return on equity of 22.30% and a net margin of 20.56%.The firm had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $3.14 billion. During the same period last year, the firm earned $1.02 earnings per share. The company’s revenue for the quarter was down 15.7% compared to the same quarter last year. Equities research analysts expect that Blackstone Inc. will post 5.87 EPS for the current year.

Wall Street Analyst Weigh In

BX has been the topic of several research analyst reports. Barclays decreased their price target on shares of Blackstone from $172.00 to $171.00 and set an “equal weight” rating on the stock in a report on Friday, January 9th. JMP Securities reiterated a “market outperform” rating and set a $195.00 price target on shares of Blackstone in a research report on Friday, October 24th. Jefferies Financial Group decreased their price objective on shares of Blackstone from $187.00 to $185.00 and set a “buy” rating on the stock in a research report on Thursday, January 8th. JPMorgan Chase & Co. cut their price target on shares of Blackstone from $177.00 to $176.00 and set a “neutral” rating for the company in a research note on Friday, October 24th. Finally, Citigroup lowered their price objective on shares of Blackstone from $185.00 to $170.00 and set a “neutral” rating on the stock in a research report on Monday, October 13th. Nine analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $177.25.

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.