Capital World Investors Has $1.78 Billion Holdings in Blackstone Inc. $BX

Capital World Investors lessened its position in shares of Blackstone Inc. (NYSE:BXFree Report) by 27.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 11,558,378 shares of the asset manager’s stock after selling 4,455,811 shares during the quarter. Capital World Investors’ holdings in Blackstone were worth $1,781,731,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Redwood Financial Network Corp grew its holdings in shares of Blackstone by 1.8% during the 2nd quarter. Redwood Financial Network Corp now owns 3,588 shares of the asset manager’s stock worth $537,000 after purchasing an additional 65 shares in the last quarter. Benchmark Financial Wealth Advisors LLC grew its holdings in shares of Blackstone by 0.9% during the 4th quarter. Benchmark Financial Wealth Advisors LLC now owns 7,748 shares of the asset manager’s stock worth $1,194,000 after purchasing an additional 69 shares in the last quarter. MidWestOne Financial Group Inc. grew its holdings in shares of Blackstone by 0.8% during the 3rd quarter. MidWestOne Financial Group Inc. now owns 8,335 shares of the asset manager’s stock worth $1,424,000 after purchasing an additional 70 shares in the last quarter. Parcion Private Wealth LLC boosted its stake in Blackstone by 0.6% in the 4th quarter. Parcion Private Wealth LLC now owns 10,935 shares of the asset manager’s stock valued at $1,686,000 after buying an additional 70 shares in the last quarter. Finally, Trivium Point Advisory LLC boosted its stake in Blackstone by 2.6% in the 4th quarter. Trivium Point Advisory LLC now owns 2,713 shares of the asset manager’s stock valued at $418,000 after buying an additional 70 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Price Performance

Blackstone stock opened at $115.40 on Friday. 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 firm has a market cap of $85.73 billion, a P/E ratio of 29.51, a P/E/G ratio of 1.25 and a beta of 1.59. The business’s fifty day moving average is $119.22 and its two-hundred day moving average is $131.72. Blackstone Inc. has a 52 week low of $101.73 and a 52 week high of $190.09.

Blackstone (NYSE:BXGet Free Report) last posted its quarterly earnings data 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 for the quarter, compared to analyst estimates of $3.45 billion. Blackstone had a return on equity of 22.86% and a net margin of 20.67%.The business’s revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.11 earnings per share. Equities research analysts forecast that Blackstone Inc. will post 5.9 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 11th. Stockholders of record on Monday, May 4th were given a dividend of $1.16 per share. The ex-dividend date was Monday, May 4th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 4.0%. Blackstone’s payout ratio is presently 118.67%.

Insider Activity at Blackstone

In other news, major shareholder Treasury Holdings I. Blackstone bought 9,486,795 shares of the company’s stock in a transaction dated Friday, May 15th. The stock was bought at an average price of $20.00 per share, for a total transaction of $189,735,900.00. Following the completion of the transaction, the insider directly owned 9,111,800 shares in the company, valued at $182,236,000. The trade was a -2,529.85% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Ruth Porat bought 355 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were purchased at an average price of $123.04 per share, with a total value of $43,679.20. Following the transaction, the director owned 41,818 shares of the company’s stock, valued at $5,145,286.72. The trade was a 0.86% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased a total of 12,355,303 shares of company stock valued at $264,789,896 over the last quarter. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Barclays decreased their price target on Blackstone from $126.00 to $124.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 8th. Weiss Ratings lowered Blackstone from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 4th. Jefferies Financial Group boosted their price target on Blackstone from $143.00 to $152.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Citizens Jmp decreased their price target on Blackstone from $195.00 to $190.00 and set a “market outperform” rating on the stock in a research note on Wednesday, April 22nd. Finally, JPMorgan Chase & Co. decreased their price target on Blackstone from $142.00 to $136.00 and set a “neutral” rating on the stock in a research note on Friday, April 24th. Twelve investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $151.05.

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About Blackstone

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Blackstone (NYSE:BX)

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