Enstar Group LTD Invests $25.35 Million in Blackstone Inc. $BX

Enstar Group LTD purchased a new stake in shares of Blackstone Inc. (NYSE:BX) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 164,428 shares of the asset manager’s stock, valued at approximately $25,345,000. Blackstone accounts for approximately 9.8% of Enstar Group LTD’s portfolio, making the stock its 4th largest position.

Other hedge funds also recently made changes to their positions in the company. Family CFO Inc bought a new stake in shares of Blackstone during the fourth quarter valued at approximately $28,000. Ares Financial Consulting LLC bought a new stake in shares of Blackstone during the fourth quarter valued at approximately $28,000. Richardson Financial Services Inc. bought a new stake in shares of Blackstone during the fourth quarter valued at approximately $29,000. Redmont Wealth Advisors LLC bought a new stake in shares of Blackstone during the third quarter valued at approximately $30,000. Finally, Strive Asset Management LLC purchased a new position in Blackstone during the third quarter valued at $30,000. 70.00% of the stock is currently owned by institutional investors.

Insider Activity at Blackstone

In other news, major shareholder Holdings Iv Gp Mana Blackstone acquired 2,868,069 shares of Blackstone stock in a transaction that occurred on Friday, March 20th. The stock was bought at an average price of $26.15 per share, for a total transaction of $75,000,004.35. Following the completion of the transaction, the insider owned 18,628,295 shares in the company, valued at $487,129,914.25. The trade was a 18.20% 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 hyperlink. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,504 shares of the business’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $3.51, for a total value of $26,246,039.04. Following the sale, the insider directly owned 25,832 shares of the company’s stock, valued at $90,670.32. This represents a 99.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have bought 12,355,303 shares of company stock valued at $264,789,896 in the last 90 days. 1.00% of the stock is owned by company insiders.

Blackstone Stock Up 1.5%

BX stock opened at $122.63 on Friday. The stock has a market capitalization of $91.10 billion, a P/E ratio of 31.36, a P/E/G ratio of 1.33 and a beta of 1.59. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.76 and a quick ratio of 0.76. Blackstone Inc. has a 1-year low of $101.73 and a 1-year high of $190.09. The business has a fifty day moving average price of $119.98 and a 200-day moving average price of $131.03.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, April 23rd. The asset manager reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.02. The company had revenue of $3.43 billion during the quarter, compared to analysts’ expectations of $3.45 billion. Blackstone had a return on equity of 22.86% and a net margin of 20.67%.Blackstone’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.11 earnings per share. Equities analysts forecast that Blackstone Inc. will post 5.9 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 11th. Investors of record on Monday, May 4th were given a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date was Monday, May 4th. Blackstone’s dividend payout ratio is 118.67%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Oppenheimer lifted their price objective on Blackstone from $154.00 to $156.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. JPMorgan Chase & Co. lowered their price objective on Blackstone from $142.00 to $136.00 and set a “neutral” rating for the company in a research note on Friday, April 24th. The Goldman Sachs Group lowered their price objective on Blackstone from $118.00 to $116.00 and set a “neutral” rating for the company in a research note on Friday, April 24th. Morgan Stanley lowered their price objective on Blackstone from $215.00 to $184.00 and set an “overweight” rating for the company in a research note on Tuesday, April 21st. Finally, Evercore reiterated an “outperform” rating and set a $150.00 price objective on shares of Blackstone in a research note on Tuesday, April 21st. Thirteen equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $150.86.

About Blackstone

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.