Blackstone Inc. (NYSE:BX) Shares Bought by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ increased its stake in Blackstone Inc. (NYSE:BX) by 2.1% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 200,265 shares of the asset manager’s stock after buying an additional 4,200 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Blackstone were worth $24,827,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Chilton Capital Management LLC acquired a new position in shares of Blackstone during the first quarter valued at approximately $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Blackstone during the 2nd quarter valued at $26,000. EdgeRock Capital LLC bought a new stake in shares of Blackstone in the 2nd quarter worth $27,000. Bank & Trust Co bought a new position in Blackstone during the second quarter valued at about $29,000. Finally, Ridgewood Investments LLC bought a new stake in Blackstone in the second quarter worth about $31,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on BX shares. TD Cowen lifted their price objective on shares of Blackstone from $114.00 to $120.00 and gave the stock a “hold” rating in a research note on Friday, July 19th. Morgan Stanley upped their price target on Blackstone from $144.00 to $164.00 and gave the company an “overweight” rating in a report on Tuesday, July 23rd. Piper Sandler raised their price objective on Blackstone from $134.00 to $149.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Deutsche Bank Aktiengesellschaft upped their target price on Blackstone from $145.00 to $146.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Finally, Wells Fargo & Company initiated coverage on Blackstone in a report on Thursday, September 12th. They set an “overweight” rating and a $163.00 price objective on the stock. Fourteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Blackstone currently has a consensus rating of “Hold” and an average target price of $130.78.

Blackstone Stock Down 0.9 %

BX opened at $158.15 on Friday. The company has a market capitalization of $113.02 billion, a PE ratio of 55.88, a price-to-earnings-growth ratio of 1.23 and a beta of 1.51. The business has a 50-day moving average of $139.58 and a 200-day moving average of $129.33. Blackstone Inc. has a fifty-two week low of $88.59 and a fifty-two week high of $161.25. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.77 and a quick ratio of 0.77.

Blackstone (NYSE:BX) last posted its earnings results on Thursday, July 18th. The asset manager reported $0.96 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.03). Blackstone had a return on equity of 17.43% and a net margin of 19.35%. The business had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $2.58 billion. During the same period in the prior year, the firm earned $0.93 earnings per share. The business’s revenue was up 166.9% on a year-over-year basis. Equities research analysts forecast that Blackstone Inc. will post 4.57 EPS for the current fiscal year.

Blackstone Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Monday, July 29th were issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date was Monday, July 29th. Blackstone’s dividend payout ratio is 115.90%.

Insider Buying and Selling

In other news, insider John G. Finley sold 35,000 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total value of $4,610,900.00. Following the completion of the sale, the insider now directly owns 429,386 shares in the company, valued at $56,567,311.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Joseph Baratta sold 116,448 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $123.00, for a total transaction of $14,323,104.00. Following the completion of the transaction, the director now directly owns 921,184 shares in the company, valued at $113,305,632. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider John G. Finley sold 35,000 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $131.74, for a total transaction of $4,610,900.00. Following the transaction, the insider now directly owns 429,386 shares in the company, valued at approximately $56,567,311.64. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Blackstone Company 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.