Credit score Suisse AG lower its holdings in shares of Blackstone Inc. (NYSE:BX – Get Rating) by 3.7% within the 2nd quarter, in line with the corporate in its most up-to-date disclosure with the Securities and Trade Fee (SEC). The fund owned 1,141,402 shares of the asset supervisor’s inventory after promoting 44,239 shares through the interval. Credit score Suisse AG owned roughly 0.16% of Blackstone value $104,131,000 on the finish of the latest quarter.
Different institutional buyers and hedge funds have additionally added to or diminished their stakes within the firm. Bristlecone Advisors LLC acquired a brand new stake in Blackstone through the second quarter valued at roughly $230,000. Equitable Belief Co. bought a brand new stake in shares of Blackstone within the 1st quarter valued at roughly $339,000. Manchester Capital Administration LLC lifted its place in shares of Blackstone by 157.5% within the 1st quarter. Manchester Capital Administration LLC now owns 3,862 shares of the asset supervisor’s inventory valued at $490,000 after buying a further 2,362 shares within the final quarter. CRA Monetary Providers LLC bought a brand new stake in shares of Blackstone within the 2nd quarter valued at roughly $352,000. Lastly, Y Intercept Hong Kong Ltd bought a brand new stake in shares of Blackstone within the 2nd quarter valued at roughly $883,000. 61.87% of the inventory is owned by institutional buyers and hedge funds.
Blackstone Inventory Efficiency
Shares of BX opened at $90.00 on Friday. The corporate’s fifty day shifting common is $89.85 and its 200-day shifting common is $97.18. Blackstone Inc. has a 12 month low of $79.54 and a 12 month excessive of $149.51. The agency has a market cap of $63.16 billion, a price-to-earnings ratio of 25.42, a price-to-earnings-growth ratio of two.18 and a beta of 1.44. The corporate has a fast ratio of 0.85, a present ratio of 0.85 and a debt-to-equity ratio of 0.52.
Blackstone (NYSE:BX – Get Rating) final introduced its quarterly earnings outcomes on Thursday, October twentieth. The asset supervisor reported $1.06 EPS for the quarter, topping the consensus estimate of $0.97 by $0.09. Blackstone had a web margin of 20.58% and a return on fairness of 20.75%. The corporate had income of $2.59 billion for the quarter, in comparison with analyst estimates of $2.52 billion. Throughout the identical quarter within the prior 12 months, the enterprise posted $1.28 EPS. Blackstone’s quarterly income was down 14.8% on a year-over-year foundation. Equities analysts count on that Blackstone Inc. will put up 5.15 EPS for the present fiscal 12 months.
Blackstone Cuts Dividend
The corporate additionally not too long ago disclosed a quarterly dividend, which was paid on Monday, November seventh. Buyers of file on Monday, October thirty first had been issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 4.00%. The ex-dividend date was Friday, October twenty eighth. Blackstone’s dividend payout ratio is at present 101.70%.
Insider Shopping for and Promoting
In associated information, main shareholder Holdings L.P. Blackstone III offered 12,154,671 shares of the corporate’s inventory in a transaction on Thursday, November seventeenth. The shares had been offered at a mean value of $7.46, for a complete transaction of $90,673,845.66. Following the completion of the sale, the insider now straight owns 295 shares of the corporate’s inventory, valued at roughly $2,200.70. The transaction was disclosed in a authorized submitting with the SEC, which is on the market by this link. In different Blackstone information, main shareholder Altus Holdings Lp Gso offered 7,000,000 shares of the inventory in a transaction on Monday, October third. The shares had been offered at a mean value of $11.01, for a complete worth of $77,070,000.00. Following the completion of the sale, the insider now straight owns 21,825,125 shares of the corporate’s inventory, valued at roughly $240,294,626.25. The sale was disclosed in a authorized submitting with the SEC, which is on the market by the SEC website. Additionally, main shareholder Holdings L.P. Blackstone III offered 12,154,671 shares of the inventory in a transaction on Thursday, November seventeenth. The shares had been offered at a mean value of $7.46, for a complete transaction of $90,673,845.66. Following the completion of the sale, the insider now straight owns 295 shares of the corporate’s inventory, valued at $2,200.70. The disclosure for this sale will be discovered here. Within the final three months, insiders offered 20,203,671 shares of firm inventory valued at $207,047,536. Firm insiders personal 1.00% of the corporate’s inventory.
Analyst Upgrades and Downgrades
A number of equities analysis analysts not too long ago commented on the inventory. Morgan Stanley diminished their value goal on shares of Blackstone from $121.00 to $115.00 and set an “chubby” score for the corporate in a analysis report on Wednesday, October nineteenth. Argus diminished their value goal on shares of Blackstone from $137.00 to $115.00 in a analysis report on Tuesday, October twenty fifth. Keefe, Bruyette & Woods downgraded shares of Blackstone from an “outperform” score to a “market carry out” score and diminished their value goal for the corporate from $127.00 to $115.00 in a analysis report on Wednesday, August third. Wells Fargo & Firm diminished their value goal on shares of Blackstone from $91.00 to $88.00 and set an “equal weight” score for the corporate in a analysis report on Friday, October twenty first. Lastly, Credit score Suisse Group lowered shares of Blackstone from a “impartial” score to an “underperform” score and dropped their value goal for the corporate from $85.50 to $67.50 in a analysis word on Tuesday, November twenty second. Two analysts have rated the inventory with a promote score, seven have issued a maintain score and 7 have assigned a purchase score to the corporate. Based on knowledge from MarketBeat.com, the corporate presently has a mean score of “Maintain” and a consensus value goal of $113.10.
Blackstone Firm Profile
Blackstone Inc is another asset administration agency specializing in actual property, personal fairness, hedge fund options, credit score, secondary funds of funds, public debt and fairness and multi-asset class methods. The agency usually invests in early-stage corporations. It additionally present capital markets providers.
See Additionally
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