Hsbc Holdings PLC Boosts Stock Holdings in Blackstone Inc. $BX

Hsbc Holdings PLC boosted its position in Blackstone Inc. (NYSE:BX) by 5.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,797,947 shares of the asset manager’s stock after buying an additional 98,840 shares during the quarter. Hsbc Holdings PLC owned approximately 0.24% of Blackstone worth $277,556,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC raised its stake in Blackstone by 34.6% in the 4th quarter. Brighton Jones LLC now owns 7,917 shares of the asset manager’s stock valued at $1,365,000 after acquiring an additional 2,035 shares during the period. Sivia Capital Partners LLC boosted its position in Blackstone by 9.3% during the second quarter. Sivia Capital Partners LLC now owns 2,076 shares of the asset manager’s stock worth $310,000 after purchasing an additional 177 shares during the period. United Bank raised its position in shares of Blackstone by 14.7% in the second quarter. United Bank now owns 13,528 shares of the asset manager’s stock valued at $2,024,000 after purchasing an additional 1,729 shares during the period. Nebula Research & Development LLC purchased a new stake in shares of Blackstone during the 2nd quarter valued at approximately $1,124,000. Finally, Sei Investments Co. boosted its holdings in Blackstone by 1.9% in the 2nd quarter. Sei Investments Co. now owns 452,619 shares of the asset manager’s stock worth $67,703,000 after buying an additional 8,655 shares during the period. Institutional investors own 70.00% of the company’s stock.

Blackstone Trading Down 0.0%

Shares of BX stock opened at $123.78 on Friday. The company has a market capitalization of $91.95 billion, a PE ratio of 31.66, a price-to-earnings-growth ratio of 1.34 and a beta of 1.59. Blackstone Inc. has a 52-week low of $101.73 and a 52-week high of $190.09. The business’s fifty day moving average is $121.11 and its 200 day moving average is $130.35. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.76 and a current ratio of 0.76.

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

Blackstone Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 11th. Investors of record on Monday, May 4th were given a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 3.7%. The ex-dividend date was Monday, May 4th. Blackstone’s dividend payout ratio is 118.67%.

Wall Street Analyst Weigh In

Several research firms have issued reports on BX. Dbs Bank upgraded Blackstone to a “moderate buy” rating in a research report on Wednesday, May 27th. Jefferies Financial Group lifted their price target on Blackstone from $143.00 to $152.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Morgan Stanley dropped their price objective on Blackstone from $215.00 to $184.00 and set an “overweight” rating on the stock in a report on Tuesday, April 21st. Argus reduced their target price on Blackstone from $163.00 to $146.00 and set a “buy” rating for the company in a report on Tuesday, April 28th. Finally, Barclays lowered their price target on shares of Blackstone from $126.00 to $124.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 8th. Thirteen research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat, Blackstone presently has a consensus rating of “Moderate Buy” and an average target price of $150.86.

Insider Activity at Blackstone

In other news, insider Vikrant Sawhney sold 30,014 shares of the firm’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $125.79, for a total transaction of $3,775,461.06. Following the sale, the insider owned 899,669 shares in the company, valued at approximately $113,169,363.51. This trade represents a 3.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Ruth Porat bought 355 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was bought at an average price of $123.04 per share, with a total value of $43,679.20. Following the completion of the transaction, the director directly owned 41,818 shares of the company’s stock, valued at $5,145,286.72. This represents a 0.86% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders acquired 9,487,234 shares of company stock valued at $189,789,892. Company insiders own 1.00% of the company’s stock.

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.