DJE Kapital AG Buys 43,797 Shares of Blackstone Inc. $BX

DJE Kapital AG boosted its holdings in shares of Blackstone Inc. (NYSE:BX) by 171.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 69,414 shares of the asset manager’s stock after buying an additional 43,797 shares during the quarter. DJE Kapital AG’s holdings in Blackstone were worth $10,724,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Blackstone by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 71,667,695 shares of the asset manager’s stock valued at $11,046,859,000 after buying an additional 840,258 shares in the last quarter. State Street Corp increased its position in Blackstone by 1.3% during the 3rd quarter. State Street Corp now owns 31,362,796 shares of the asset manager’s stock valued at $5,358,334,000 after buying an additional 412,281 shares in the last quarter. Norges Bank acquired a new position in Blackstone during the 4th quarter valued at about $1,275,747,000. Northern Trust Corp increased its position in Blackstone by 4.7% during the 3rd quarter. Northern Trust Corp now owns 7,324,989 shares of the asset manager’s stock valued at $1,251,474,000 after buying an additional 329,379 shares in the last quarter. Finally, Capital Research Global Investors increased its position in Blackstone by 99.2% during the 4th quarter. Capital Research Global Investors now owns 6,381,767 shares of the asset manager’s stock valued at $983,690,000 after buying an additional 3,178,133 shares in the last quarter. 70.00% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BX has been the topic of several recent analyst reports. Argus reduced their target price on Blackstone from $163.00 to $146.00 and set a “buy” rating on the stock in a research report on Tuesday, April 28th. Rothschild & Co Redburn dropped their price target on Blackstone from $134.00 to $130.00 and set a “neutral” rating on the stock in a research note on Tuesday. Barclays dropped their price target on Blackstone from $126.00 to $124.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 8th. BMO Capital Markets boosted their price target on Blackstone from $126.00 to $132.00 and gave the company an “outperform” rating in a research note on Monday, April 13th. Finally, Dbs Bank upgraded Blackstone to a “moderate buy” rating in a research note on Wednesday, May 27th. Thirteen equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $150.86.

Insider Transactions at Blackstone

In related news, major shareholder Treasury Holdings I. Blackstone bought 9,486,795 shares of the stock in a transaction dated Friday, May 15th. The shares were purchased at an average price of $20.00 per share, for a total transaction of $189,735,900.00. Following the completion of the purchase, the insider directly owned 9,111,800 shares of the company’s stock, valued at $182,236,000. This represents a -2,529.85% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ruth Porat bought 355 shares of the stock in a transaction dated Monday, May 11th. The stock was bought at an average price of $123.04 per share, for a total transaction of $43,679.20. Following the purchase, the director directly owned 41,818 shares of the company’s stock, valued at approximately $5,145,286.72. The trade was a 0.86% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have bought 12,355,303 shares of company stock valued at $264,789,896. 1.00% of the stock is owned by insiders.

Blackstone Stock Up 1.9%

Shares of BX opened at $120.67 on Friday. Blackstone Inc. has a 52 week low of $101.73 and a 52 week high of $190.09. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $89.65 billion, a price-to-earnings ratio of 30.86, a PEG ratio of 1.29 and a beta of 1.59. The stock’s 50-day moving average price is $119.81 and its 200-day moving average price is $131.09.

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

Blackstone Cuts Dividend

The business also recently announced 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 dividend payout ratio is presently 118.67%.

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.