Zurcher Kantonalbank Zurich Cantonalbank Purchases 699 Shares of Blackstone Inc. (NYSE:BX)

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Blackstone Inc. (NYSE:BX) by 0.6% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 126,453 shares of the asset manager’s stock after acquiring an additional 699 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Blackstone were worth $16,555,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Bourgeon Capital Management LLC increased its holdings in Blackstone by 86.2% in the 4th quarter. Bourgeon Capital Management LLC now owns 216 shares of the asset manager’s stock worth $28,000 after buying an additional 100 shares during the period. Exchange Traded Concepts LLC grew its stake in shares of Blackstone by 763.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 233 shares of the asset manager’s stock worth $31,000 after purchasing an additional 206 shares during the period. Bruce G. Allen Investments LLC acquired a new stake in shares of Blackstone during the 4th quarter worth approximately $33,000. Coppell Advisory Solutions LLC acquired a new stake in shares of Blackstone during the 2nd quarter worth approximately $25,000. Finally, Family CFO Inc acquired a new stake in shares of Blackstone during the 3rd quarter worth approximately $33,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on BX shares. TD Cowen assumed coverage on shares of Blackstone in a research note on Thursday, January 4th. They set a “market perform” rating and a $118.00 price objective on the stock. Oppenheimer lowered Blackstone from an “outperform” rating to a “market perform” rating in a report on Thursday, January 11th. Bank of America raised their price objective on Blackstone from $146.00 to $147.00 and gave the company a “buy” rating in a report on Monday, March 4th. BMO Capital Markets raised their price objective on Blackstone from $95.00 to $101.00 and gave the company a “market perform” rating in a report on Friday, January 26th. Finally, Piper Sandler decreased their price objective on Blackstone from $150.00 to $146.00 and set an “overweight” rating on the stock in a report on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $119.97.

Blackstone Price Performance

BX stock opened at $120.28 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.67. Blackstone Inc. has a fifty-two week low of $79.92 and a fifty-two week high of $133.56. The business has a 50 day moving average price of $126.66 and a 200 day moving average price of $117.66. The stock has a market cap of $85.96 billion, a price-to-earnings ratio of 65.73, a PEG ratio of 0.99 and a beta of 1.51.

Blackstone (NYSE:BX) last released its earnings results on Thursday, April 18th. The asset manager reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.02). The company had revenue of $3.69 billion during the quarter, compared to analyst estimates of $2.56 billion. Blackstone had a net margin of 17.34% and a return on equity of 17.30%. The company’s revenue for the quarter was up 166.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.97 EPS. Equities research analysts anticipate that Blackstone Inc. will post 4.88 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 6th. Shareholders of record on Monday, April 29th will be given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 2.76%. Blackstone’s payout ratio is 205.46%.

Insiders Place Their Bets

In other Blackstone news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the business’s stock in a transaction on Sunday, March 3rd. The stock was sold at an average price of $11.10, for a total transaction of $27,853,407.60. Following the sale, the insider now directly owns 12,802 shares in the company, valued at $142,102.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Joseph Baratta sold 28,852 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $128.05, for a total value of $3,694,498.60. Following the sale, the director now directly owns 982,221 shares in the company, valued at $125,773,399.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the stock in a transaction dated Sunday, March 3rd. The stock was sold at an average price of $11.10, for a total value of $27,853,407.60. Following the transaction, the insider now owns 12,802 shares in the company, valued at $142,102.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,587,168 shares of company stock worth $37,816,476. 1.00% of the stock is owned by corporate insiders.

Blackstone Company 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.