Entropy Technologies LP Makes New $2.20 Million Investment in Blackstone Inc. $BX

Entropy Technologies LP purchased a new stake in Blackstone Inc. (NYSE:BX) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 14,288 shares of the asset manager’s stock, valued at approximately $2,202,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in Blackstone by 1.2% in 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 during the period. Morgan Stanley increased its holdings in Blackstone by 2.0% during the 4th quarter. Morgan Stanley now owns 32,862,165 shares of the asset manager’s stock worth $5,065,374,000 after purchasing an additional 636,613 shares during the period. State Street Corp boosted its stake in shares of Blackstone by 0.6% in the 4th quarter. State Street Corp now owns 31,542,009 shares of the asset manager’s stock valued at $4,861,885,000 after buying an additional 179,213 shares during the period. Norges Bank acquired a new position in shares of Blackstone during the fourth quarter worth about $1,275,747,000. Finally, Northern Trust Corp raised its holdings in Blackstone by 4.7% in the third quarter. Northern Trust Corp now owns 7,324,989 shares of the asset manager’s stock valued at $1,251,474,000 after acquiring an additional 329,379 shares in the last quarter. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Zacks Research raised shares of Blackstone from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th. BMO Capital Markets increased their target price on Blackstone from $126.00 to $132.00 and gave the company an “outperform” rating in a report on Monday, April 13th. Argus cut their price target on Blackstone from $163.00 to $146.00 and set a “buy” rating on the stock in a research note on Tuesday, April 28th. Rothschild & Co Redburn lowered their price objective on Blackstone from $134.00 to $130.00 and set a “neutral” rating for the company in a research report on Tuesday, June 9th. Finally, Royal Bank Of Canada assumed coverage on Blackstone in a research report on Monday, June 8th. They set an “outperform” rating on the stock. Thirteen investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $150.86.

Blackstone Stock Up 1.5%

BX opened at $124.59 on Tuesday. The stock has a market capitalization of $92.55 billion, a P/E ratio of 31.86, a price-to-earnings-growth ratio of 1.33 and a beta of 1.59. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.76 and a current ratio of 0.76. Blackstone Inc. has a one year low of $101.73 and a one year high of $190.09. The business’s 50-day simple moving average is $120.21 and its 200-day simple moving average is $130.82.

Blackstone (NYSE:BX) last released its quarterly earnings results on Thursday, April 23rd. The asset manager reported $1.36 EPS for the quarter, topping the consensus estimate of $1.34 by $0.02. The company had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.45 billion. Blackstone had a return on equity of 22.86% and a net margin of 20.67%.The firm’s revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.11 earnings per share. Analysts anticipate that Blackstone Inc. will post 5.9 EPS for the current year.

Blackstone Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 11th. Investors of record on Monday, May 4th were paid a dividend of $1.16 per share. The ex-dividend date was Monday, May 4th. This represents a $4.64 dividend on an annualized basis and a yield of 3.7%. Blackstone’s dividend payout ratio is currently 118.67%.

Insider Buying and Selling at Blackstone

In other Blackstone news, major shareholder Holdings Iv Gp Mana Blackstone bought 2,868,069 shares of Blackstone stock in a transaction dated Friday, March 20th. The stock was acquired at an average cost of $26.15 per share, with a total value of $75,000,004.35. Following the completion of the acquisition, the insider owned 18,628,295 shares of the company’s stock, valued at approximately $487,129,914.25. This represents a 18.20% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Treasury Holdings I. Blackstone purchased 9,486,795 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were bought at an average cost of $20.00 per share, for a total transaction of $189,735,900.00. Following the acquisition, the insider owned 9,111,800 shares of the company’s stock, valued at approximately $182,236,000. The trade was a -2,529.85% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have purchased 12,355,303 shares of company stock valued at $264,789,896. Company insiders own 1.00% of the company’s stock.

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.