Blackstone Inc. $BX Shares Purchased by Moore Capital Management LP

Moore Capital Management LP increased its position in shares of Blackstone Inc. (NYSE:BX) by 33.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 111,680 shares of the asset manager’s stock after acquiring an additional 27,920 shares during the quarter. Moore Capital Management LP’s holdings in Blackstone were worth $17,214,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of BX. Jain Global LLC purchased a new stake in shares of Blackstone in the third quarter valued at about $9,116,000. Fayez Sarofim & Co raised its holdings in shares of Blackstone by 1.9% in the third quarter. Fayez Sarofim & Co now owns 1,270,608 shares of the asset manager’s stock valued at $217,083,000 after buying an additional 24,237 shares during the last quarter. Natixis Advisors LLC raised its holdings in shares of Blackstone by 20.4% in the third quarter. Natixis Advisors LLC now owns 840,401 shares of the asset manager’s stock valued at $143,582,000 after buying an additional 142,479 shares during the last quarter. Close Asset Management Ltd raised its holdings in shares of Blackstone by 16,035.1% in the third quarter. Close Asset Management Ltd now owns 1,140,264 shares of the asset manager’s stock valued at $194,746,000 after buying an additional 1,133,197 shares during the last quarter. Finally, Mackenzie Financial Corp raised its holdings in Blackstone by 2.1% during the third quarter. Mackenzie Financial Corp now owns 904,237 shares of the asset manager’s stock worth $154,489,000 after purchasing an additional 18,339 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Wall Street Analysts Forecast Growth

BX has been the subject of several analyst reports. HSBC cut their price target on shares of Blackstone from $164.00 to $131.00 and set a “hold” rating for the company in a report on Friday, April 10th. Morgan Stanley cut their price target on shares of Blackstone from $215.00 to $184.00 and set an “overweight” rating for the company in a report on Tuesday, April 21st. Weiss Ratings cut shares of Blackstone from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 4th. BMO Capital Markets increased their price target 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, Piper Sandler upped their target price on shares of Blackstone from $122.00 to $130.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th. Thirteen research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat.com, Blackstone currently has an average rating of “Moderate Buy” and an average price target of $150.86.

Insider Buying and Selling at Blackstone

In other news, insider Vikrant Sawhney sold 30,014 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $125.79, for a total value of $3,775,461.06. Following the sale, the insider directly owned 899,669 shares in the company, valued at $113,169,363.51. This represents a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Holdings Iv Gp Mana Blackstone purchased 2,868,069 shares of the stock in a transaction dated Friday, March 20th. The stock was acquired at an average price of $26.15 per share, for a total transaction of $75,000,004.35. Following the completion of the transaction, the insider directly owned 18,628,295 shares of the company’s stock, valued at approximately $487,129,914.25. The trade was a 18.20% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired 12,355,303 shares of company stock valued at $264,789,896 over the last three months. Company insiders own 1.00% of the company’s stock.

Blackstone Trading Down 2.3%

Shares of BX opened at $124.89 on Thursday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.66. The firm’s 50-day moving average is $120.76 and its two-hundred day moving average is $130.56. Blackstone Inc. has a twelve month low of $101.73 and a twelve month high of $190.09. The firm has a market capitalization of $92.78 billion, a P/E ratio of 31.94, a PEG ratio of 1.39 and a beta of 1.59.

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

Blackstone Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 11th. Stockholders of record on Monday, May 4th were given a $1.16 dividend. 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 currently 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.