Dakota Wealth Management Raises Position in Blackstone Inc. (NYSE:BX)

Dakota Wealth Management grew its holdings in shares of Blackstone Inc. (NYSE:BXGet Rating) by 15.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,813 shares of the asset manager’s stock after purchasing an additional 1,202 shares during the quarter. Dakota Wealth Management’s holdings in Blackstone were worth $1,140,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Krilogy Financial LLC raised its position in shares of Blackstone by 0.7% in the 4th quarter. Krilogy Financial LLC now owns 12,811 shares of the asset manager’s stock worth $1,658,000 after buying an additional 88 shares during the period. First Bank & Trust raised its position in shares of Blackstone by 7.0% in the 4th quarter. First Bank & Trust now owns 1,366 shares of the asset manager’s stock worth $177,000 after buying an additional 89 shares during the period. Joel Isaacson & Co. LLC raised its position in shares of Blackstone by 0.6% in the 4th quarter. Joel Isaacson & Co. LLC now owns 14,311 shares of the asset manager’s stock worth $1,852,000 after buying an additional 92 shares during the period. CAPROCK Group Inc. increased its holdings in Blackstone by 1.5% in the 4th quarter. CAPROCK Group Inc. now owns 6,334 shares of the asset manager’s stock valued at $820,000 after purchasing an additional 92 shares in the last quarter. Finally, Financial Engines Advisors L.L.C. increased its holdings in Blackstone by 1.8% in the 4th quarter. Financial Engines Advisors L.L.C. now owns 5,576 shares of the asset manager’s stock valued at $721,000 after purchasing an additional 98 shares in the last quarter. 63.68% of the stock is currently owned by institutional investors.

Several analysts recently issued reports on the company. Citigroup lowered their price target on Blackstone from $132.50 to $117.00 and set a “neutral” rating for the company in a report on Tuesday, April 12th. Exane BNP Paribas downgraded Blackstone from an “outperform” rating to a “neutral” rating in a report on Thursday, April 7th. BMO Capital Markets increased their price target on Blackstone from $124.00 to $142.00 and gave the company an “outperform” rating in a report on Friday, April 22nd. Wells Fargo & Company increased their price target on Blackstone from $120.00 to $122.00 and gave the company an “equal weight” rating in a report on Friday, April 22nd. Finally, Jefferies Financial Group restated a “buy” rating and set a $155.00 target price on shares of Blackstone in a research note on Wednesday, April 13th. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $139.73.

Shares of BX stock traded up $8.40 during trading hours on Friday, hitting $107.82. 6,445,827 shares of the company were exchanged, compared to its average volume of 4,861,327. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.70 and a current ratio of 0.70. Blackstone Inc. has a one year low of $85.65 and a one year high of $149.78. The business’s 50-day simple moving average is $114.63 and its two-hundred day simple moving average is $124.79. The stock has a market capitalization of $75.55 billion, a price-to-earnings ratio of 14.69, a P/E/G ratio of 1.02 and a beta of 1.38.

Blackstone (NYSE:BXGet Rating) last issued its quarterly earnings results on Thursday, April 21st. The asset manager reported $1.55 EPS for the quarter, topping the consensus estimate of $1.07 by $0.48. Blackstone had a net margin of 23.77% and a return on equity of 19.20%. The business had revenue of $5.13 billion for the quarter, compared to analysts’ expectations of $2.54 billion. During the same quarter last year, the company posted $0.96 earnings per share. The company’s quarterly revenue was down 3.3% compared to the same quarter last year. As a group, analysts anticipate that Blackstone Inc. will post 5.71 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, May 9th. Stockholders of record on Monday, May 2nd were given a dividend of $1.32 per share. This is a boost from Blackstone’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend was Friday, April 29th. This represents a $5.28 annualized dividend and a dividend yield of 4.90%. Blackstone’s dividend payout ratio (DPR) is presently 71.93%.

In other Blackstone news, major shareholder Holdings L.P. Blackstone III sold 8,700 shares of the firm’s stock in a transaction dated Thursday, May 5th. The shares were sold at an average price of $95.08, for a total value of $827,196.00. Following the transaction, the insider now owns 1,315,899 shares of the company’s stock, valued at $125,115,676.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Tactical Opportunit Blackstone bought 2,500,000 shares of the business’s stock in a transaction on Friday, April 29th. The stock was acquired at an average cost of $4.00 per share, for a total transaction of $10,000,000.00. Following the acquisition, the insider now directly owns 26,839,187 shares of the company’s stock, valued at $107,356,748. The disclosure for this purchase can be found here. In the last three months, insiders acquired 2,510,094 shares of company stock worth $11,189,865 and sold 1,090,152 shares worth $66,040,454. Company insiders own 1.00% of the company’s stock.

About Blackstone (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.

Further Reading

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Institutional Ownership by Quarter for Blackstone (NYSE:BX)

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