Y Intercept Hong Kong Ltd Purchases New Stake in Blackstone Inc. $BX

Y Intercept Hong Kong Ltd acquired a new position in shares of Blackstone Inc. (NYSE:BX) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 37,380 shares of the asset manager’s stock, valued at approximately $4,298,000.

A number of other hedge funds have also made changes to their positions in BX. Leonteq Securities AG lifted its position in Blackstone by 470.5% in the 1st quarter. Leonteq Securities AG now owns 38,686 shares of the asset manager’s stock worth $4,449,000 after buying an additional 31,905 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in shares of Blackstone by 48.0% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 176,522 shares of the asset manager’s stock worth $20,298,000 after acquiring an additional 57,250 shares during the last quarter. Elevation Point Wealth Partners LLC boosted its position in Blackstone by 68.4% during the first quarter. Elevation Point Wealth Partners LLC now owns 15,840 shares of the asset manager’s stock valued at $1,821,000 after purchasing an additional 6,433 shares during the last quarter. Platform Technology Partners grew its stake in Blackstone by 52.2% in the first quarter. Platform Technology Partners now owns 38,003 shares of the asset manager’s stock valued at $4,370,000 after purchasing an additional 13,035 shares in the last quarter. Finally, Sound Income Strategies LLC increased its position in Blackstone by 19.7% in the 1st quarter. Sound Income Strategies LLC now owns 1,487 shares of the asset manager’s stock worth $170,000 after purchasing an additional 245 shares during the last quarter. 70.00% of the stock is owned by hedge funds and other institutional investors.

Blackstone Trading Down 0.0%

Shares of BX stock opened at $122.73 on Monday. The business’s 50 day moving average is $119.67 and its two-hundred day moving average is $127.87. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.66. Blackstone Inc. has a 12 month low of $101.73 and a 12 month high of $190.09. The company has a market cap of $91.17 billion, a PE ratio of 31.39, a price-to-earnings-growth ratio of 1.33 and a beta of 1.58.

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

Blackstone Cuts Dividend

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

Insider Buying and Selling at Blackstone

In other Blackstone news, major shareholder Treasury Holdings I. Blackstone bought 9,486,795 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The stock was purchased at an average price of $20.00 per share, for a total transaction of $189,735,900.00. Following the purchase, the insider directly owned 9,111,800 shares in the company, valued at $182,236,000. This trade represents a -2,529.85% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,500 shares of Blackstone stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $3.78, for a total value of $28,264,950.00. Following the completion of the transaction, the insider directly owned 19,374 shares in the company, valued at approximately $73,233.72. This represents a 99.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have acquired 10,252,345 shares of company stock worth $209,789,893 in the last ninety days. 1.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

BX has been the subject of several recent research reports. TD Cowen lowered their price target on Blackstone from $140.00 to $133.00 and set a “buy” rating for the company in a research note on Monday, May 18th. Zacks Research upgraded shares of Blackstone from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. Rothschild & Co Redburn dropped their price target on shares of Blackstone from $134.00 to $130.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 9th. Weiss Ratings lowered shares of Blackstone from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 4th. Finally, Jefferies Financial Group upped their price objective on shares of Blackstone from $143.00 to $152.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Thirteen investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $149.36.

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.