Bessemer Group Inc. Has $109.77 Million Stock Holdings in Blackstone Inc. $BX

Bessemer Group Inc. trimmed its position in shares of Blackstone Inc. (NYSE:BX) by 23.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 733,848 shares of the asset manager’s stock after selling 218,670 shares during the quarter. Bessemer Group Inc. owned approximately 0.10% of Blackstone worth $109,770,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Illinois Municipal Retirement Fund boosted its stake in shares of Blackstone by 105.4% during the first quarter. Illinois Municipal Retirement Fund now owns 13,405 shares of the asset manager’s stock valued at $1,874,000 after purchasing an additional 6,878 shares in the last quarter. Kera Capital Partners Inc. acquired a new stake in shares of Blackstone during the second quarter valued at about $273,000. Sandy Cove Advisors LLC raised its position in shares of Blackstone by 22.1% during the second quarter. Sandy Cove Advisors LLC now owns 12,042 shares of the asset manager’s stock worth $1,801,000 after acquiring an additional 2,182 shares during the last quarter. Bourgeon Capital Management LLC bought a new position in shares of Blackstone during the second quarter worth about $423,000. Finally, Edmond DE Rothschild Holding S.A. raised its position in shares of Blackstone by 14.5% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 14,708 shares of the asset manager’s stock worth $2,056,000 after acquiring an additional 1,863 shares during the last quarter. 70.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BX. Barclays lowered their price objective on Blackstone from $171.00 to $165.00 and set an “equal weight” rating for the company in a research report on Friday. Deutsche Bank Aktiengesellschaft set a $166.00 price objective on Blackstone and gave the stock a “buy” rating in a research report on Friday. Jefferies Financial Group lowered their price objective on Blackstone from $207.00 to $199.00 and set a “buy” rating for the company in a research report on Tuesday, October 7th. Dbs Bank upgraded Blackstone to a “moderate buy” rating in a report on Tuesday, August 12th. Finally, Morgan Stanley lifted their target price on Blackstone from $200.00 to $215.00 and gave the stock an “overweight” rating in a report on Tuesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, Blackstone has a consensus rating of “Moderate Buy” and an average target price of $180.26.

Blackstone Trading Down 0.6%

NYSE BX opened at $153.70 on Tuesday. The company has a market cap of $113.29 billion, a price-to-earnings ratio of 43.91, a P/E/G ratio of 1.24 and a beta of 1.77. Blackstone Inc. has a 52 week low of $115.66 and a 52 week high of $200.96. The business has a 50 day moving average price of $169.89 and a 200-day moving average price of $156.26. The company has a quick ratio of 0.74, a current ratio of 0.75 and a debt-to-equity ratio of 0.60.

Blackstone (NYSE:BX) last released its quarterly earnings data on Friday, November 22nd. The asset manager reported $0.97 EPS for the quarter. The firm had revenue of $2.49 billion during the quarter. Blackstone had a return on equity of 22.30% and a net margin of 20.56%. As a group, equities analysts expect that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Monday, November 3rd will be issued a dividend of $1.29 per share. This is a positive change from Blackstone’s previous quarterly dividend of $1.03. This represents a $5.16 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Monday, November 3rd. Blackstone’s dividend payout ratio is presently 147.43%.

Insider Activity

In related news, insider Vikrant Sawhney sold 50,850 shares of Blackstone stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $173.64, for a total transaction of $8,829,594.00. Following the transaction, the insider owned 737,248 shares of the company’s stock, valued at $128,015,742.72. The trade was a 6.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 16,689,884 shares of Blackstone stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $6.26, for a total value of $104,478,673.84. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 2,538,345 shares of company stock valued at $65,046,628 and have sold 16,984,634 shares valued at $155,181,346. Insiders own 1.00% of the company’s stock.

Blackstone Profile

Blackstone Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, public debt and equity and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services.