Flagship Harbor Advisors LLC raised its holdings in shares of Blackstone Inc. (NYSE:BX – Get Rating) by 0.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,901 shares of the asset manager’s stock after purchasing an additional 181 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Blackstone were worth $2,780,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. Western Pacific Wealth Management LP bought a new position in Blackstone during the fourth quarter valued at $27,000. Citizens National Bank Trust Department purchased a new stake in shares of Blackstone in the fourth quarter valued at $39,000. Earnest Partners LLC purchased a new stake in shares of Blackstone in the fourth quarter valued at $40,000. Quadrant Capital Group LLC raised its stake in shares of Blackstone by 41.9% in the fourth quarter. Quadrant Capital Group LLC now owns 335 shares of the asset manager’s stock valued at $43,000 after acquiring an additional 99 shares during the period. Finally, Massmutual Trust Co. FSB ADV raised its stake in shares of Blackstone by 1,576.2% in the first quarter. Massmutual Trust Co. FSB ADV now owns 352 shares of the asset manager’s stock valued at $45,000 after acquiring an additional 331 shares during the period. Institutional investors and hedge funds own 63.68% of the company’s stock.
In other news, Director James Breyer purchased 9,326 shares of the stock in a transaction dated Wednesday, May 25th. The shares were acquired at an average cost of $107.21 per share, for a total transaction of $999,840.46. Following the acquisition, the director now owns 34,522 shares of the company’s stock, valued at $3,701,103.62. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Ruth Porat purchased 5,000 shares of the stock in a transaction dated Wednesday, April 27th. The stock was purchased at an average price of $109.69 per share, for a total transaction of $548,450.00. Following the completion of the acquisition, the director now directly owns 15,942 shares in the company, valued at approximately $1,748,677.98. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 2,514,376 shares of company stock worth $11,553,227 and have sold 669,650 shares worth $37,169,012. Company insiders own 1.00% of the company’s stock.
BX stock opened at $91.26 on Thursday. The company has a market capitalization of $63.95 billion, a PE ratio of 12.43, a P/E/G ratio of 0.96 and a beta of 1.37. Blackstone Inc. has a 12 month low of $87.39 and a 12 month high of $149.78. The firm’s 50-day moving average is $107.58 and its 200 day moving average is $117.93. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.77 and a quick ratio of 0.77.
Blackstone (NYSE:BX – Get Rating) last posted its earnings results on Thursday, April 21st. The asset manager reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.47. The business had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $2.54 billion. Blackstone had a net margin of 23.77% and a return on equity of 18.77%. The company’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.96 EPS. Sell-side analysts forecast that Blackstone Inc. will post 5.71 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, May 9th. Shareholders of record on Monday, May 2nd were given a dividend of $1.32 per share. This is an increase from Blackstone’s previous quarterly dividend of $0.93. The ex-dividend date was Friday, April 29th. This represents a $5.28 dividend on an annualized basis and a yield of 5.79%. Blackstone’s dividend payout ratio (DPR) is 71.93%.
Blackstone Company Profile (Get Rating)
Blackstone Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, public debt and equity and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services.
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