Flagship Harbor Advisors LLC Raises Stock Position in Blackstone Inc. (NYSE:BX)

Flagship Harbor Advisors LLC increased its stake in Blackstone Inc. (NYSE:BXGet Rating) by 0.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 21,901 shares of the asset manager’s stock after acquiring an additional 181 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Blackstone were worth $2,780,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of BX. Norges Bank acquired a new stake in Blackstone during the 4th quarter worth $831,839,000. BlackRock Inc. boosted its stake in Blackstone by 19.9% during the 4th quarter. BlackRock Inc. now owns 36,485,682 shares of the asset manager’s stock worth $4,720,879,000 after purchasing an additional 6,049,041 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec acquired a new stake in Blackstone during the 4th quarter worth $128,150,000. John & Kathleen Schreiber Foundation acquired a new stake in Blackstone during the 4th quarter worth $111,888,000. Finally, D. E. Shaw & Co. Inc. boosted its stake in Blackstone by 68.5% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 2,087,562 shares of the asset manager’s stock worth $270,109,000 after purchasing an additional 848,790 shares during the last quarter. 63.68% of the stock is owned by institutional investors.

NYSE BX opened at $91.26 on Thursday. The firm’s 50-day moving average is $107.58 and its two-hundred day moving average is $117.93. Blackstone Inc. has a 12 month low of $87.39 and a 12 month high of $149.78. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.77 and a quick ratio of 0.77. The stock has a market capitalization of $63.95 billion, a P/E ratio of 12.43, a PEG ratio of 0.96 and a beta of 1.37.

Blackstone (NYSE:BXGet Rating) last posted its earnings results on Thursday, April 21st. The asset manager reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.47. Blackstone had a net margin of 23.77% and a return on equity of 18.77%. The company had revenue of $5.13 billion for the quarter, compared to analysts’ expectations of $2.54 billion. During the same quarter in the prior year, the company posted $0.96 earnings per share. Blackstone’s revenue for the quarter was down 3.3% compared to the same quarter last year. As a group, analysts anticipate that Blackstone Inc. will post 5.71 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, May 9th. Shareholders of record on Monday, May 2nd were paid a dividend of $1.32 per share. The ex-dividend date was Friday, April 29th. This is a positive change from Blackstone’s previous quarterly dividend of $0.93. This represents a $5.28 dividend on an annualized basis and a yield of 5.79%. Blackstone’s dividend payout ratio is 71.93%.

In other Blackstone news, major shareholder Holdings L.P. Blackstone III sold 25,200 shares of the business’s stock in a transaction dated Friday, April 1st. The shares were sold at an average price of $61.38, for a total transaction of $1,546,776.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director James Breyer purchased 9,326 shares of the business’s stock in a transaction on Wednesday, May 25th. The shares were acquired at an average price of $107.21 per share, for a total transaction of $999,840.46. Following the completion of the purchase, the director now directly owns 34,522 shares of the company’s stock, valued at $3,701,103.62. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 2,514,376 shares of company stock worth $11,553,227 and have sold 669,650 shares worth $37,169,012. 1.00% of the stock is owned by corporate insiders.

Several equities research analysts have issued reports on BX shares. BNP Paribas cut shares of Blackstone from an “outperform” rating to a “neutral” rating and set a $135.00 target price on the stock. in a research note on Thursday, April 7th. Citigroup lowered their price target on shares of Blackstone from $132.50 to $117.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 12th. BMO Capital Markets boosted their price target on shares of Blackstone from $124.00 to $142.00 and gave the company an “outperform” rating in a research report on Friday, April 22nd. StockNews.com began coverage on shares of Blackstone in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Bank of America boosted their price target on shares of Blackstone from $172.00 to $180.00 and gave the company a “buy” rating in a research report on Friday, April 22nd. Six investment 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, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $141.00.

About Blackstone (Get Rating)

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.

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Institutional Ownership by Quarter for Blackstone (NYSE:BX)

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