Rockefeller Capital Management L.P. Acquires 98,193 Shares of Blackstone Inc. $BX

Rockefeller Capital Management L.P. increased its holdings in Blackstone Inc. (NYSE:BX) by 13.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 832,305 shares of the asset manager’s stock after buying an additional 98,193 shares during the period. Rockefeller Capital Management L.P.’s holdings in Blackstone were worth $128,292,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Family CFO Inc purchased a new position in shares of Blackstone in the fourth quarter valued at $28,000. Ares Financial Consulting LLC purchased a new stake in Blackstone during the 4th quarter worth about $28,000. Richardson Financial Services Inc. purchased a new position in Blackstone during the 4th quarter valued at about $29,000. Redmont Wealth Advisors LLC bought a new stake in shares of Blackstone during the third quarter valued at about $30,000. Finally, Strive Asset Management LLC purchased a new stake in shares of Blackstone in the third quarter worth about $30,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insider Transactions at Blackstone

In other news, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,500 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $3.78, for a total value of $28,264,950.00. Following the completion of the sale, the insider directly owned 19,374 shares in the company, valued at approximately $73,233.72. The trade was a 99.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Ruth Porat acquired 355 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was acquired at an average cost of $123.04 per share, with a total value of $43,679.20. Following the purchase, the director directly owned 41,818 shares in the company, valued at $5,145,286.72. This represents a 0.86% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders purchased 9,487,234 shares of company stock valued at $189,789,892. 1.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

BX has been the topic of a number of analyst reports. Dbs Bank raised shares of Blackstone to a “moderate buy” rating in a report on Wednesday, May 27th. BMO Capital Markets boosted their price target on shares of Blackstone from $126.00 to $132.00 and gave the company an “outperform” rating in a research report on Monday, April 13th. Argus lowered their price objective on Blackstone from $163.00 to $146.00 and set a “buy” rating on the stock in a research report on Tuesday, April 28th. Rothschild & Co Redburn reduced their target price on Blackstone from $134.00 to $130.00 and set a “neutral” rating for the company in a research report on Tuesday, June 9th. Finally, Jefferies Financial Group raised their price target on Blackstone from $143.00 to $152.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Thirteen investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $150.86.

Blackstone Price Performance

Shares of NYSE:BX opened at $123.78 on Friday. Blackstone Inc. has a one year low of $101.73 and a one year high of $190.09. 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 firm has a market capitalization of $91.95 billion, a price-to-earnings ratio of 31.66, a PEG ratio of 1.34 and a beta of 1.59. The company’s fifty day moving average price is $121.11 and its 200-day moving average price is $130.35.

Blackstone (NYSE:BX) last announced its earnings results on Thursday, April 23rd. The asset manager reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.02. Blackstone had a net margin of 20.67% and a return on equity of 22.86%. The company had revenue of $3.43 billion during the quarter, compared to analyst estimates of $3.45 billion. During the same period in the previous year, the business earned $1.11 earnings per share. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. On average, equities research analysts anticipate that Blackstone Inc. will post 5.9 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The company also recently disclosed 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 annualized dividend and a dividend yield of 3.7%. Blackstone’s dividend payout ratio is 118.67%.

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.