Csenge Advisory Group reduced its holdings in Blackstone Inc. (NYSE:BX – Get Rating) by 13.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,479 shares of the asset manager’s stock after selling 1,665 shares during the quarter. Csenge Advisory Group’s holdings in Blackstone were worth $1,018,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. MML Investors Services LLC raised its holdings in shares of Blackstone by 3.7% during the third quarter. MML Investors Services LLC now owns 44,764 shares of the asset manager’s stock valued at $5,208,000 after acquiring an additional 1,601 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Blackstone by 0.7% during the third quarter. Bank of New York Mellon Corp now owns 2,864,659 shares of the asset manager’s stock valued at $333,275,000 after buying an additional 21,083 shares in the last quarter. Homrich & Berg grew its holdings in shares of Blackstone by 2.7% during the third quarter. Homrich & Berg now owns 7,342 shares of the asset manager’s stock valued at $854,000 after buying an additional 194 shares in the last quarter. Illinois Municipal Retirement Fund lifted its stake in Blackstone by 35.9% in the 4th quarter. Illinois Municipal Retirement Fund now owns 64,473 shares of the asset manager’s stock worth $8,342,000 after acquiring an additional 17,023 shares in the last quarter. Finally, Ameritas Advisory Services LLC purchased a new position in Blackstone during the 4th quarter valued at about $1,825,000. 63.68% of the stock is owned by institutional investors and hedge funds.
In related news, major shareholder Holdings L.P. Blackstone III sold 52,900 shares of the company’s stock in a transaction that occurred on Tuesday, March 1st. The shares were sold at an average price of $61.23, for a total transaction of $3,239,067.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Tactical Opportunit Blackstone acquired 2,500,000 shares of the stock in a transaction dated Friday, April 29th. The stock was purchased at an average cost of $4.00 per share, with a total value of $10,000,000.00. Following the purchase, the insider now directly owns 26,839,187 shares of the company’s stock, valued at $107,356,748. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 2,510,050 shares of company stock valued at $11,184,437 and have sold 1,090,152 shares valued at $66,040,454. Corporate insiders own 1.00% of the company’s stock.
Blackstone (NYSE:BX – Get Rating) last released its quarterly earnings results on Thursday, April 21st. The asset manager reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.47. The business had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $2.54 billion. Blackstone had a return on equity of 19.20% and a net margin of 23.77%. The firm’s quarterly revenue was down 3.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.96 EPS. As a group, equities research analysts expect that Blackstone Inc. will post 5.71 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, May 9th. Stockholders of record on Monday, May 2nd were given a $1.32 dividend. The ex-dividend date of this dividend was Friday, April 29th. This is a boost from Blackstone’s previous quarterly dividend of $0.93. This represents a $5.28 annualized dividend and a dividend yield of 4.91%. Blackstone’s payout ratio is presently 71.93%.
A number of research firms have recently weighed in on BX. BMO Capital Markets raised their price target on Blackstone from $124.00 to $142.00 and gave the stock an “outperform” rating in a research note on Friday, April 22nd. Jefferies Financial Group reiterated a “buy” rating and issued a $155.00 price target on shares of Blackstone in a research report on Wednesday, April 13th. Exane BNP Paribas downgraded shares of Blackstone from an “outperform” rating to a “neutral” rating in a research note on Thursday, April 7th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Blackstone from $186.00 to $182.00 and set a “buy” rating on the stock in a research report on Friday, April 22nd. Finally, Bank of America upped their price objective on shares of Blackstone from $172.00 to $180.00 and gave the company a “buy” rating in a research report on Friday, April 22nd. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $139.73.
Blackstone Company Profile (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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