Blackstone Inc. (NYSE:BX) Shares Bought by Lumature Wealth Partners LLC

Lumature Wealth Partners LLC increased its stake in shares of Blackstone Inc. (NYSE:BXGet Rating) by 2.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,780 shares of the asset manager’s stock after purchasing an additional 185 shares during the quarter. Lumature Wealth Partners LLC’s holdings in Blackstone were worth $1,007,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Marshall Wace LLP acquired a new position in Blackstone during the 1st quarter worth approximately $50,000. Morgan Stanley boosted its stake in Blackstone by 9.0% during the second quarter. Morgan Stanley now owns 20,477,273 shares of the asset manager’s stock valued at $1,989,163,000 after buying an additional 1,691,281 shares in the last quarter. Commerce Bank boosted its stake in Blackstone by 10.4% during the third quarter. Commerce Bank now owns 23,994 shares of the asset manager’s stock valued at $2,791,000 after buying an additional 2,260 shares in the last quarter. First Horizon Advisors Inc. boosted its position in shares of Blackstone by 168.9% in the 3rd quarter. First Horizon Advisors Inc. now owns 726 shares of the asset manager’s stock valued at $73,000 after purchasing an additional 456 shares during the period. Finally, Principal Financial Group Inc. boosted its position in shares of Blackstone by 50.9% in the 3rd quarter. Principal Financial Group Inc. now owns 151,869 shares of the asset manager’s stock valued at $17,668,000 after purchasing an additional 51,195 shares during the period. Institutional investors own 63.68% of the company’s stock.

In other Blackstone news, major shareholder Holdings L.P. Blackstone III sold 8,700 shares of the firm’s stock in a transaction that occurred on Thursday, May 5th. The shares were sold at an average price of $95.08, for a total transaction of $827,196.00. Following the completion of the transaction, the insider now owns 1,315,899 shares of the company’s stock, valued at $125,115,676.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Tactical Opportunit Blackstone bought 2,500,000 shares of the firm’s stock in a transaction on Friday, April 29th. The shares were acquired at an average cost of $4.00 per share, with a total value of $10,000,000.00. Following the purchase, the insider now directly owns 26,839,187 shares of the company’s stock, valued at approximately $107,356,748. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 2,510,094 shares of company stock valued at $11,189,865 and sold 1,090,152 shares valued at $66,040,454. 1.00% of the stock is owned by corporate insiders.

BX opened at $107.82 on Friday. The firm has a market capitalization of $75.55 billion, a P/E ratio of 14.69, a price-to-earnings-growth ratio of 1.02 and a beta of 1.38. Blackstone Inc. has a 12-month low of $85.65 and a 12-month high of $149.78. The stock’s 50 day moving average price is $114.63 and its two-hundred day moving average price is $124.79. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.36.

Blackstone (NYSE:BXGet Rating) last announced its earnings results on Thursday, April 21st. The asset manager reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.48. Blackstone had a net margin of 23.77% and a return on equity of 19.20%. The company had revenue of $5.13 billion during the quarter, compared to analyst estimates of $2.54 billion. During the same period in the previous year, the business earned $0.96 earnings per share. The firm’s quarterly revenue was down 3.3% compared to the same quarter last year. As a group, analysts anticipate that Blackstone Inc. will post 5.71 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 9th. Stockholders of record on Monday, May 2nd were paid a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a dividend yield of 4.90%. This is an increase from Blackstone’s previous quarterly dividend of $0.93. The ex-dividend date was Friday, April 29th. Blackstone’s dividend payout ratio is 71.93%.

Several equities research analysts recently issued reports on BX shares. Bank of America increased their price objective on Blackstone from $172.00 to $180.00 and gave the stock a “buy” rating in a research note on Friday, April 22nd. Wells Fargo & Company increased their price objective on Blackstone from $120.00 to $122.00 and gave the stock an “equal weight” rating in a research note on Friday, April 22nd. Jefferies Financial Group reaffirmed a “buy” rating and set a $155.00 price target on shares of Blackstone in a research note on Wednesday, April 13th. Citigroup cut their price target on Blackstone from $132.50 to $117.00 and set a “neutral” rating for the company in a research note on Tuesday, April 12th. Finally, Zacks Investment Research raised Blackstone from a “sell” rating to a “hold” rating and set a $125.00 price target for the company in a research note on Thursday, April 7th. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Blackstone currently has a consensus rating of “Hold” and an average target price of $139.73.

About Blackstone (Get Rating)

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.

Read More

Institutional Ownership by Quarter for Blackstone (NYSE:BX)

Receive News & Ratings for Blackstone Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Blackstone and related companies with MarketBeat.com's FREE daily email newsletter.