Blackstone Inc. (NYSE:BX) Shares Bought by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ boosted its stake in Blackstone Inc. (NYSE:BX) by 2.1% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 200,265 shares of the asset manager’s stock after buying an additional 4,200 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Blackstone were worth $24,827,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Chilton Capital Management LLC purchased a new stake in Blackstone in the 1st quarter worth approximately $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Blackstone in the second quarter valued at $26,000. EdgeRock Capital LLC acquired a new stake in Blackstone in the 2nd quarter worth about $27,000. Bank & Trust Co acquired a new position in shares of Blackstone during the 2nd quarter valued at about $29,000. Finally, Scarborough Advisors LLC purchased a new position in shares of Blackstone during the 4th quarter worth about $32,000. 70.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on BX. Wells Fargo & Company started coverage on shares of Blackstone in a research note on Thursday, September 12th. They set an “overweight” rating and a $163.00 price target on the stock. Morgan Stanley lifted their target price on Blackstone from $144.00 to $164.00 and gave the company an “overweight” rating in a report on Tuesday, July 23rd. Bank of America raised their price objective on Blackstone from $130.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Barclays increased their target price on shares of Blackstone from $126.00 to $141.00 and gave the stock an “equal weight” rating in a research report on Friday, July 19th. Finally, Redburn Atlantic initiated coverage on shares of Blackstone in a research note on Tuesday, August 27th. They set a “neutral” rating and a $134.00 price objective for the company. Fourteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $130.78.

Blackstone Stock Down 0.9 %

Shares of NYSE:BX opened at $158.15 on Friday. The firm has a market cap of $113.02 billion, a PE ratio of 55.88, a price-to-earnings-growth ratio of 1.23 and a beta of 1.51. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.60. Blackstone Inc. has a 12-month low of $88.59 and a 12-month high of $161.25. The company has a fifty day simple moving average of $139.58 and a 200 day simple moving average of $129.33.

Blackstone (NYSE:BX) last posted its quarterly earnings results on Thursday, July 18th. The asset manager reported $0.96 EPS for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.03). Blackstone had a return on equity of 17.43% and a net margin of 19.35%. The firm had revenue of $3.69 billion during the quarter, compared to analyst estimates of $2.58 billion. During the same quarter last year, the business posted $0.93 earnings per share. The firm’s revenue for the quarter was up 166.9% on a year-over-year basis. On average, equities research analysts anticipate that Blackstone Inc. will post 4.57 EPS for the current fiscal year.

Blackstone Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Monday, July 29th were issued a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend was Monday, July 29th. Blackstone’s dividend payout ratio is presently 115.90%.

Insiders Place Their Bets

In related news, Director Joseph Baratta sold 116,448 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $123.00, for a total transaction of $14,323,104.00. Following the completion of the sale, the director now owns 921,184 shares of the company’s stock, valued at approximately $113,305,632. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider John G. Finley sold 35,000 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total transaction of $4,610,900.00. Following the completion of the transaction, the insider now owns 429,386 shares of the company’s stock, valued at $56,567,311.64. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $123.00, for a total transaction of $14,323,104.00. Following the completion of the sale, the director now owns 921,184 shares in the company, valued at $113,305,632. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.

Blackstone Profile

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.