Danica Pension Livsforsikringsaktieselskab Buys New Position in Blackstone Inc. $BX

Danica Pension Livsforsikringsaktieselskab purchased a new stake in Blackstone Inc. (NYSE:BX) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 91,257 shares of the asset manager’s stock, valued at approximately $10,738,000.

Other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its stake in Blackstone by 34.6% in the 4th quarter. Brighton Jones LLC now owns 7,917 shares of the asset manager’s stock worth $1,365,000 after acquiring an additional 2,035 shares in the last quarter. Sivia Capital Partners LLC increased its holdings in shares of Blackstone by 9.3% in the 2nd quarter. Sivia Capital Partners LLC now owns 2,076 shares of the asset manager’s stock valued at $310,000 after purchasing an additional 177 shares during the period. United Bank lifted its position in shares of Blackstone by 14.7% in the second quarter. United Bank now owns 13,528 shares of the asset manager’s stock worth $2,024,000 after purchasing an additional 1,729 shares in the last quarter. Nebula Research & Development LLC purchased a new position in Blackstone during the second quarter valued at approximately $1,124,000. Finally, Sei Investments Co. increased its stake in Blackstone by 1.9% in the 2nd quarter. Sei Investments Co. now owns 452,619 shares of the asset manager’s stock valued at $67,703,000 after buying an additional 8,655 shares during the period. 70.00% of the stock is currently owned by institutional investors.

Insider Activity

In other Blackstone news, major shareholder Private Multi-Asset Blackstone acquired 765,111 shares of the business’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was acquired at an average price of $26.14 per share, with a total value of $20,000,001.54. Following the transaction, the insider owned 7,882,145 shares of the company’s stock, valued at approximately $206,039,270.30. This trade represents a 10.75% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO David Payne sold 9,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $145.23, for a total value of $1,379,685.00. Following the completion of the sale, the chief accounting officer directly owned 64,448 shares in the company, valued at $9,359,783.04. This trade represents a 12.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have acquired 1,339,180 shares of company stock worth $35,062,433 and have sold 7,562,000 shares worth $40,331,085. Insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

BX has been the subject of a number of research reports. Dbs Bank raised Blackstone to a “moderate buy” rating in a research report on Wednesday, May 27th. Zacks Research raised Blackstone from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. Argus boosted their price target on Blackstone from $146.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. BNP Paribas Exane cut their price objective on shares of Blackstone from $126.00 to $125.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 30th. Finally, Keefe, Bruyette & Woods raised shares of Blackstone to a “hold” rating in a research report on Monday, July 20th. Thirteen analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $147.95.

Blackstone Stock Performance

Shares of NYSE BX opened at $140.62 on Wednesday. The business’s 50-day simple moving average is $127.46 and its 200-day simple moving average is $122.41. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.72 and a current ratio of 0.72. Blackstone Inc. has a 52 week low of $101.73 and a 52 week high of $190.09. The firm has a market cap of $105.56 billion, a price-to-earnings ratio of 31.46, a P/E/G ratio of 1.60 and a beta of 1.55.

Blackstone (NYSE:BX) last posted its earnings results on Thursday, July 23rd. The asset manager reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.18. Blackstone had a return on equity of 23.77% and a net margin of 21.84%.The firm had revenue of $5.04 billion during the quarter, compared to analyst estimates of $3.42 billion. During the same period in the previous year, the company earned $0.98 EPS. The company’s revenue for the quarter was up 35.9% on a year-over-year basis. As a group, equities research analysts expect that Blackstone Inc. will post 6 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Monday, August 3rd were paid a $1.29 dividend. This represents a $5.16 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date was Monday, August 3rd. This is a boost from Blackstone’s previous quarterly dividend of $1.16. Blackstone’s dividend payout ratio (DPR) is 115.44%.

Blackstone 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.