Strive Asset Management LLC Acquires Shares of 30,060 Blackstone Inc. $BX

Strive Asset Management LLC purchased a new position in Blackstone Inc. (NYSE:BXFree Report) during the third quarter, HoldingsChannel reports. The firm purchased 30,060 shares of the asset manager’s stock, valued at approximately $5,136,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. REAP Financial Group LLC bought a new position in Blackstone in the third quarter worth approximately $26,000. Redmont Wealth Advisors LLC bought a new position in shares of Blackstone during the 3rd quarter worth $30,000. Traub Capital Management LLC bought a new stake in shares of Blackstone in the second quarter valued at about $27,000. Parvin Asset Management LLC bought a new position in Blackstone during the 2nd quarter worth about $35,000. Finally, Rexford Capital Inc. bought a new stake in shares of Blackstone in the 2nd quarter valued at about $35,000. Institutional investors own 70.00% of the company’s stock.

Insider Activity

In related news, major shareholder Holdings Iv Gp Mana Blackstone bought 1,146,789 shares of the stock in a transaction dated Monday, February 23rd. The shares were purchased at an average price of $26.16 per share, for a total transaction of $30,000,000.24. Following the completion of the purchase, the insider directly owned 16,716,249 shares of the company’s stock, valued at $437,297,073.84. This represents a 7.37% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of the business’s stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $10.00, for a total value of $15,961,420.00. Following the completion of the transaction, the insider directly owned 2,161 shares of the company’s stock, valued at $21,610. The trade was a 99.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.00% of the company’s stock.

Trending Headlines about Blackstone

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Blackstone Trading Up 1.6%

NYSE:BX opened at $115.19 on Tuesday. The company has a market capitalization of $85.06 billion, a P/E ratio of 29.69, a PEG ratio of 0.97 and a beta of 1.80. The company has a current ratio of 0.76, a quick ratio of 0.75 and a debt-to-equity ratio of 0.61. The firm has a fifty day simple moving average of $143.13 and a 200-day simple moving average of $154.03. Blackstone Inc. has a 12 month low of $109.25 and a 12 month high of $190.09.

Blackstone (NYSE:BXGet Free Report) last posted its quarterly earnings results on Thursday, January 29th. The asset manager reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.21. The business had revenue of $4.36 billion for the quarter, compared to the consensus estimate of $3.69 billion. Blackstone had a return on equity of 22.17% and a net margin of 20.89%.The company’s quarterly revenue was up 41.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.69 EPS. On average, equities research analysts anticipate that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 17th. Shareholders of record on Monday, February 9th were given a dividend of $1.49 per share. The ex-dividend date of this dividend was Monday, February 9th. This represents a $5.96 annualized dividend and a yield of 5.2%. This is an increase from Blackstone’s previous quarterly dividend of $1.29. Blackstone’s payout ratio is 153.61%.

Analysts Set New Price Targets

A number of equities analysts recently commented on BX shares. JPMorgan Chase & Co. reduced their price objective on shares of Blackstone from $176.00 to $158.00 and set a “neutral” rating for the company in a research note on Friday, January 30th. BNP Paribas Exane cut their target price on Blackstone from $167.00 to $156.00 and set a “neutral” rating on the stock in a research note on Monday, January 12th. Evercore cut their price objective on shares of Blackstone from $175.00 to $170.00 and set an “outperform” rating on the stock in a research report on Friday, January 30th. Jefferies Financial Group lowered their target price on shares of Blackstone from $185.00 to $161.00 and set a “buy” rating for the company in a research note on Tuesday, February 10th. Finally, Piper Sandler decreased their price objective on Blackstone from $168.00 to $158.00 and set a “neutral” rating for the company in a report on Monday, February 2nd. Eleven equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $167.57.

View Our Latest Report on BX

Blackstone Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding BX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Blackstone Inc. (NYSE:BXFree Report).

Institutional Ownership by Quarter for Blackstone (NYSE:BX)

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