Financial Partners Group Inc trimmed its stake in shares of Blackstone Inc. (NYSE:BX – Get Rating) by 6.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,804 shares of the asset manager’s stock after selling 414 shares during the quarter. Financial Partners Group Inc’s holdings in Blackstone were worth $766,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently bought and sold shares of BX. Marshall Wace LLP purchased a new stake in Blackstone in the 1st quarter worth approximately $50,000. Morgan Stanley lifted its stake in shares of Blackstone by 9.0% in the 2nd quarter. Morgan Stanley now owns 20,477,273 shares of the asset manager’s stock valued at $1,989,163,000 after purchasing an additional 1,691,281 shares during the period. First Horizon Advisors Inc. lifted its stake in shares of Blackstone by 168.9% in the 3rd quarter. First Horizon Advisors Inc. now owns 726 shares of the asset manager’s stock valued at $73,000 after purchasing an additional 456 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Blackstone by 50.9% in the 3rd quarter. Principal Financial Group Inc. now owns 151,869 shares of the asset manager’s stock valued at $17,668,000 after purchasing an additional 51,195 shares during the period. Finally, Banque Pictet & Cie SA purchased a new position in shares of Blackstone in the 3rd quarter valued at approximately $204,000. Institutional investors and hedge funds own 63.68% of the company’s stock.
In related news, Director Ruth Porat purchased 5,000 shares of Blackstone stock in a transaction that occurred on Friday, February 25th. The stock was purchased at an average cost of $126.21 per share, with a total value of $631,050.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Holdings L.P. Blackstone III sold 8,700 shares of the business’s stock in a transaction on Thursday, May 5th. The shares were sold at an average price of $95.08, for a total transaction of $827,196.00. Following the completion of the sale, the insider now directly owns 1,315,899 shares of the company’s stock, valued at $125,115,676.92. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 2,510,094 shares of company stock valued at $11,189,865 and sold 1,090,152 shares valued at $66,040,454. Insiders own 1.00% of the company’s stock.
Blackstone stock traded up $8.40 during trading on Friday, hitting $107.82. The company had a trading volume of 6,445,827 shares, compared to its average volume of 4,861,327. Blackstone Inc. has a 1-year low of $85.65 and a 1-year high of $149.78. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.36. The company’s 50 day simple moving average is $114.63 and its 200-day simple moving average is $124.79. The stock has a market cap of $75.55 billion, a price-to-earnings ratio of 14.69, a price-to-earnings-growth ratio of 1.02 and a beta of 1.38.
Blackstone (NYSE:BX – Get Rating) last posted its earnings results on Thursday, April 21st. The asset manager reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.48. Blackstone had a net margin of 23.77% and a return on equity of 19.20%. The firm had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same quarter last year, the firm earned $0.96 EPS. The firm’s revenue for the quarter was down 3.3% on a year-over-year basis. As a group, analysts forecast that Blackstone Inc. will post 5.71 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, May 9th. Shareholders of record on Monday, May 2nd were paid a $1.32 dividend. This is an increase from Blackstone’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend was Friday, April 29th. This represents a $5.28 annualized dividend and a dividend yield of 4.90%. Blackstone’s payout ratio is 71.93%.
About Blackstone (Get Rating)
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.
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