Blackstone Inc. $BX Stock Position Lifted by Heard Capital LLC

Heard Capital LLC grew its stake in shares of Blackstone Inc. (NYSE:BX) by 6.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,153,040 shares of the asset manager’s stock after buying an additional 67,610 shares during the period. Blackstone comprises 8.3% of Heard Capital LLC’s holdings, making the stock its 6th biggest position. Heard Capital LLC’s holdings in Blackstone were worth $177,730,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Family CFO Inc purchased a new position in Blackstone in the 4th quarter worth approximately $28,000. Ares Financial Consulting LLC purchased a new position in Blackstone in the 4th quarter worth approximately $28,000. Richardson Financial Services Inc. purchased a new position in Blackstone in the 4th quarter worth approximately $29,000. Redmont Wealth Advisors LLC purchased a new position in Blackstone in the 3rd quarter worth approximately $30,000. Finally, Strive Asset Management LLC purchased a new position in Blackstone in the 3rd quarter worth approximately $30,000. 70.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. The Goldman Sachs Group lowered their price target on Blackstone from $118.00 to $116.00 and set a “neutral” rating on the stock in a report on Friday, April 24th. Evercore reissued an “outperform” rating and issued a $150.00 price target on shares of Blackstone in a report on Tuesday, April 21st. HSBC decreased their price objective on Blackstone from $164.00 to $131.00 and set a “hold” rating on the stock in a report on Friday, April 10th. Rothschild & Co Redburn decreased their price objective on Blackstone from $134.00 to $130.00 and set a “neutral” rating on the stock in a report on Tuesday, June 9th. Finally, BMO Capital Markets upped their price objective on Blackstone from $126.00 to $132.00 and gave the stock an “outperform” rating in a report on Monday, April 13th. Thirteen equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $150.86.

Blackstone Stock Up 2.6%

Shares of BX opened at $127.89 on Wednesday. The stock has a market capitalization of $95.01 billion, a price-to-earnings ratio of 32.71, a price-to-earnings-growth ratio of 1.35 and a beta of 1.59. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.76 and a quick ratio of 0.76. The business’s 50 day simple moving average is $120.51 and its 200-day simple moving average is $130.70. Blackstone Inc. has a 1 year low of $101.73 and a 1 year high of $190.09.

Blackstone (NYSE:BX) last released its earnings results on Thursday, April 23rd. The asset manager reported $1.36 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.02. The firm had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.45 billion. Blackstone had a return on equity of 22.86% and a net margin of 20.67%.The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.11 EPS. As a group, equities analysts expect that Blackstone Inc. will post 5.9 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The business 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 of this dividend was Monday, May 4th. This represents a $4.64 annualized dividend and a dividend yield of 3.6%. Blackstone’s payout ratio is currently 118.67%.

Insider Buying and Selling

In related news, major shareholder Holdings Iv Gp Mana Blackstone bought 2,868,069 shares of the business’s stock in a transaction dated Friday, March 20th. The shares were purchased at an average price of $26.15 per share, with a total value of $75,000,004.35. Following the transaction, the insider owned 18,628,295 shares in the company, valued at $487,129,914.25. This trade represents a 18.20% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Vikrant Sawhney sold 30,014 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $125.79, for a total value of $3,775,461.06. Following the transaction, the insider directly owned 899,669 shares in the company, valued at approximately $113,169,363.51. This represents a 3.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders bought 12,355,303 shares of company stock worth $264,789,896. 1.00% of the stock is owned by company 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.