SEB Asset Management AB Invests $17.64 Million in Blackstone Inc. $BX

SEB Asset Management AB acquired a new stake in Blackstone Inc. (NYSE:BX) during the first quarter, according to its most recent filing with the SEC. The firm acquired 153,419 shares of the asset manager’s stock, valued at approximately $17,642,000.

Other large investors also recently bought and sold shares of the company. Strive Asset Management LLC purchased a new stake in shares of Blackstone in the third quarter valued at about $30,000. Family CFO Inc acquired a new stake in Blackstone in the fourth quarter valued at about $28,000. Ares Financial Consulting LLC purchased a new stake in Blackstone in the 4th quarter valued at approximately $28,000. Richardson Financial Services Inc. purchased a new position in shares of Blackstone during the 4th quarter worth approximately $29,000. Finally, Kelleher Financial Advisors acquired a new stake in shares of Blackstone in the 3rd quarter valued at approximately $34,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Stock Performance

Shares of BX opened at $123.64 on Tuesday. The company’s 50 day simple moving average is $119.97 and its 200 day simple moving average is $125.48. 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 company has a market capitalization of $91.85 billion, a price-to-earnings ratio of 31.62, a PEG ratio of 1.37 and a beta of 1.58. Blackstone Inc. has a 1 year low of $101.73 and a 1 year high of $190.09.

Blackstone (NYSE:BX) last issued its quarterly earnings results on Thursday, April 23rd. The asset manager reported $1.36 earnings per share 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 for the quarter was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.11 EPS. On average, sell-side analysts predict that Blackstone Inc. will post 5.89 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on BX shares. Dbs Bank raised Blackstone to a “moderate buy” rating in a report on Wednesday, May 27th. Zacks Research upgraded shares of Blackstone from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th. Deutsche Bank Aktiengesellschaft began coverage on shares of Blackstone in a report on Monday, June 8th. They issued a “buy” rating for the company. BMO Capital Markets boosted their price objective on shares of Blackstone from $126.00 to $132.00 and gave the stock an “outperform” rating in a report on Monday, April 13th. Finally, Jefferies Financial Group increased their target price on shares of Blackstone from $143.00 to $152.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Thirteen equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $145.71.

Insider Transactions at Blackstone

In related news, Director Ruth Porat bought 355 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were acquired at an average cost of $123.04 per share, with a total value of $43,679.20. Following the completion of the transaction, the director owned 41,818 shares of the company’s stock, valued at approximately $5,145,286.72. The trade was a 0.86% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Vikrant Sawhney sold 30,014 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $125.79, for a total transaction of $3,775,461.06. Following the transaction, the insider directly owned 899,669 shares of the company’s stock, valued at $113,169,363.51. This trade represents a 3.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders acquired 10,252,345 shares of company stock worth $209,789,893 in the last quarter. 1.00% of the stock is currently owned by corporate 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.