2,885 Shares in Blackstone Inc. (NYSE:BX) Acquired by Constellation Investimentos e Participacoes Ltda

Constellation Investimentos e Participacoes Ltda acquired a new stake in shares of Blackstone Inc. (NYSE:BX) in the 3rd quarter, HoldingsChannel.com reports. The firm acquired 2,885 shares of the asset manager’s stock, valued at approximately $442,000. Blackstone accounts for about 0.2% of Constellation Investimentos e Participacoes Ltda’s investment portfolio, making the stock its 10th biggest position.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BX. Vanguard Group Inc. grew its holdings in shares of Blackstone by 2.0% during the first quarter. Vanguard Group Inc. now owns 64,262,972 shares of the asset manager’s stock valued at $8,442,227,000 after buying an additional 1,290,324 shares during the last quarter. Capital World Investors raised its position in Blackstone by 7.5% during the 1st quarter. Capital World Investors now owns 36,285,872 shares of the asset manager’s stock worth $4,766,875,000 after buying an additional 2,546,886 shares during the last quarter. Wulff Hansen & CO. boosted its stake in shares of Blackstone by 12,192.7% in the second quarter. Wulff Hansen & CO. now owns 7,340,845 shares of the asset manager’s stock worth $908,797,000 after buying an additional 7,281,128 shares during the last quarter. Legal & General Group Plc lifted its holdings in Blackstone by 2.3% in the second quarter. Legal & General Group Plc now owns 6,266,207 shares of the asset manager’s stock valued at $775,758,000 after acquiring an additional 141,616 shares during the period. Finally, Janus Henderson Group PLC grew its stake in shares of Blackstone by 0.5% during the 1st quarter. Janus Henderson Group PLC now owns 4,670,645 shares of the asset manager’s stock worth $613,581,000 after purchasing an additional 21,450 shares during the period. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on BX shares. Barclays lifted their price objective on shares of Blackstone from $141.00 to $155.00 and gave the company an “equal weight” rating in a report on Monday. Piper Sandler downgraded Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 price target on the stock. in a research report on Wednesday. TD Cowen upped their target price on Blackstone from $114.00 to $120.00 and gave the stock a “hold” rating in a research note on Friday, July 19th. Wells Fargo & Company increased their price objective on Blackstone from $163.00 to $169.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Bank of America increased their target price on shares of Blackstone from $130.00 to $145.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Twelve analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $135.00.

Insiders Place Their Bets

In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $150.81, for a total value of $17,561,522.88. Following the sale, the director now owns 799,749 shares of the company’s stock, valued at $120,610,146.69. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Blackstone news, insider John G. Finley sold 35,000 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total value of $4,610,900.00. Following the completion of the transaction, the insider now owns 429,386 shares in the company, valued at $56,567,311.64. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Joseph Baratta sold 116,448 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total value of $17,561,522.88. Following the completion of the sale, the director now directly owns 799,749 shares of the company’s stock, valued at approximately $120,610,146.69. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Blackstone Stock Performance

NYSE:BX opened at $149.07 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.77 and a current ratio of 0.77. The company has a 50 day moving average price of $143.08 and a 200 day moving average price of $131.81. Blackstone Inc. has a fifty-two week low of $88.59 and a fifty-two week high of $161.25. The stock has a market capitalization of $107.34 billion, a P/E ratio of 56.90, a PEG ratio of 1.24 and a beta of 1.51.

Blackstone (NYSE:BX) last posted its earnings results on Thursday, July 18th. The asset manager reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.03). The firm had revenue of $3.69 billion for the quarter, compared to analyst estimates of $2.58 billion. Blackstone had a return on equity of 17.43% and a net margin of 19.35%. Blackstone’s revenue was up 166.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.93 EPS. Equities research analysts forecast that Blackstone Inc. will post 4.46 EPS for the current year.

Blackstone Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Monday, July 29th were issued a dividend of $0.82 per share. The ex-dividend date of this dividend was Monday, July 29th. This represents a $3.28 dividend on an annualized basis and a yield of 2.20%. Blackstone’s dividend payout ratio (DPR) is presently 125.19%.

About Blackstone

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.