Livforsakringsbolaget Skandia Omsesidigt Makes New $548,000 Investment in Blackstone Inc. $BX

Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of Blackstone Inc. (NYSE:BX) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 4,662 shares of the asset manager’s stock, valued at approximately $548,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BX. Bell Investment Advisors Inc acquired a new stake in shares of Blackstone in the 2nd quarter valued at $30,000. Addison Advisors LLC acquired a new position in shares of Blackstone in the 2nd quarter valued at $30,000. Strive Asset Management LLC purchased a new position in shares of Blackstone during the third quarter worth about $30,000. Palladiem LLC purchased a new stake in shares of Blackstone during the fourth quarter worth approximately $31,000. Finally, West Branch Capital LLC increased its stake in shares of Blackstone by 26,600.0% during the second quarter. West Branch Capital LLC now owns 267 shares of the asset manager’s stock worth $31,000 after acquiring an additional 266 shares during the period. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, major shareholder Holdings Iv L.P. Blackstone purchased 272,642 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The shares were purchased at an average cost of $26.14 per share, with a total value of $7,126,861.88. Following the completion of the acquisition, the insider directly owned 8,704,419 shares of the company’s stock, valued at approximately $227,533,512.66. The trade was a 3.23% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Vikrant Sawhney sold 30,000 shares of the firm’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $135.55, for a total transaction of $4,066,500.00. Following the transaction, the insider directly owned 869,669 shares of the company’s stock, valued at approximately $117,883,632.95. This represents a 3.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders acquired 1,611,822 shares of company stock worth $42,189,294 and sold 7,562,000 shares worth $40,331,085. Company insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on BX shares. TD Cowen boosted their target price on shares of Blackstone from $133.00 to $145.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. HSBC restated a “hold” rating and issued a $135.00 target price on shares of Blackstone in a report on Monday, July 20th. Citizens Jmp reduced their target price on Blackstone from $190.00 to $165.00 and set a “market outperform” rating on the stock in a research report on Thursday, July 9th. The Goldman Sachs Group raised their price target on shares of Blackstone from $114.00 to $127.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Finally, Rothschild & Co Redburn reduced their target price on shares of Blackstone from $134.00 to $130.00 and set a “neutral” rating on the stock in a report on Tuesday, June 9th. Thirteen equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $149.43.

Blackstone Price Performance

Shares of BX stock opened at $142.63 on Friday. The firm has a fifty day simple moving average of $130.65 and a 200-day simple moving average of $122.92. The company has a market capitalization of $107.06 billion, a PE ratio of 31.91, a price-to-earnings-growth ratio of 1.55 and a beta of 1.56. Blackstone Inc. has a twelve month low of $101.73 and a twelve month high of $190.09. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.63.

Blackstone (NYSE:BX) last issued its quarterly earnings data on Thursday, July 23rd. The asset manager reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.18. The firm had revenue of $5.04 billion for the quarter, compared to analyst estimates of $3.42 billion. Blackstone had a net margin of 21.84% and a return on equity of 23.77%. The firm’s revenue was up 35.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.98 EPS. Equities research analysts anticipate that Blackstone Inc. will post 5.99 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Monday, August 3rd were paid a dividend of $1.29 per share. This is a boost from Blackstone’s previous quarterly dividend of $1.16. The ex-dividend date was Monday, August 3rd. This represents a $5.16 dividend on an annualized basis and a yield of 3.6%. Blackstone’s payout ratio is 115.44%.

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.