Nykredit A S Takes $23.24 Million Position in Blackstone Inc. $BX

Nykredit A S acquired a new position in shares of Blackstone Inc. (NYSE:BX) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 197,479 shares of the asset manager’s stock, valued at approximately $23,237,000.

A number of other large investors also recently modified their holdings of BX. PFG Private Wealth Management LLC lifted its holdings in Blackstone by 11.7% during the 2nd quarter. PFG Private Wealth Management LLC now owns 3,125 shares of the asset manager’s stock worth $368,000 after buying an additional 328 shares in the last quarter. Symphony Financial Ltd. Co. lifted its stake in shares of Blackstone by 53.7% during the second quarter. Symphony Financial Ltd. Co. now owns 5,358 shares of the asset manager’s stock valued at $617,000 after acquiring an additional 1,872 shares during the period. Triumph Capital Management increased its position in Blackstone by 8.3% in the second quarter. Triumph Capital Management now owns 3,915 shares of the asset manager’s stock worth $461,000 after purchasing an additional 299 shares during the period. Rinkey Investments acquired a new stake in shares of Blackstone during the 2nd quarter worth approximately $203,000. Finally, Proficio Capital Partners LLC lifted its holdings in Blackstone by 33.1% in the second quarter. Proficio Capital Partners LLC now owns 49,947 shares of the asset manager’s stock valued at $5,877,000 after buying an additional 12,426 shares during the period. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Vikrant Sawhney sold 30,000 shares of the business’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $135.55, for a total transaction of $4,066,500.00. Following the transaction, the insider directly owned 869,669 shares in the company, valued at approximately $117,883,632.95. The trade was a 3.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,500 shares of the stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $3.78, for a total transaction of $28,264,950.00. Following the completion of the sale, the insider owned 19,374 shares of the company’s stock, valued at approximately $73,233.72. This represents a 99.74% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have acquired 1,611,822 shares of company stock worth $42,189,294 and have sold 7,562,000 shares worth $40,331,085. Company insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on BX shares. Dbs Bank upgraded shares of Blackstone to a “moderate buy” rating in a research report on Wednesday, May 27th. BNP Paribas Exane cut their target price on Blackstone from $126.00 to $125.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 30th. HSBC reaffirmed a “hold” rating and issued a $135.00 price target on shares of Blackstone in a research note on Monday, July 20th. Jefferies Financial Group boosted their price objective on shares of Blackstone from $143.00 to $152.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Finally, The Goldman Sachs Group increased their target price on shares of Blackstone from $114.00 to $127.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. Thirteen investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Blackstone has a consensus rating of “Moderate Buy” and an average target price of $149.43.

Blackstone Price Performance

NYSE BX opened at $137.72 on Friday. Blackstone Inc. has a 12-month low of $101.73 and a 12-month high of $190.09. The firm’s 50 day moving average is $132.34 and its 200-day moving average is $123.05. The company has a market capitalization of $103.38 billion, a PE ratio of 30.81, a price-to-earnings-growth ratio of 1.54 and a beta of 1.56. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.63.

Blackstone (NYSE:BX) last issued its quarterly earnings results on Thursday, July 23rd. The asset manager reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.18. The firm had revenue of $5.04 billion for the quarter, compared to analyst estimates of $3.42 billion. Blackstone had a net margin of 21.84% and a return on equity of 23.77%. The company’s revenue was up 35.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.98 EPS. Equities research analysts anticipate that Blackstone Inc. will post 5.99 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Monday, August 3rd were given a dividend of $1.29 per share. This represents a $5.16 annualized dividend and a yield of 3.7%. This is a boost from Blackstone’s previous quarterly dividend of $1.16. The ex-dividend date of this dividend was Monday, August 3rd. Blackstone’s payout ratio is currently 115.44%.

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.