June 30, 2023
Close Asset Management Ltd Increases Stake in Blackstone Inc.
Close Asset Management Ltd, a prominent asset management firm, has recently reported an 80.3% increase in its stake in shares of Blackstone Inc. This disclosure was made in the firm’s most recent filing with the Securities and Exchange Commission (SEC), shedding light on their investment strategy during the first quarter of this year.
According to the filing, Close Asset Management Ltd now owns 2,549 shares of Blackstone’s stock after acquiring an additional 1,135 shares during the quarter. The value of their holdings in Blackstone amounts to a substantial $224,000 as of the end of the reporting period.
The news of this increased stake showcases Close Asset Management Ltd’s confidence in Blackstone’s performance and prospects for growth. As one of the leading global investment firms specializing in alternative asset management, Blackstone offers diverse investment opportunities across private equity, real estate, hedge funds, and credit strategies.
However, it is important to note that Close Asset Management Ltd is not the only party making significant moves regarding their involvement with Blackstone. There have been notable developments within the company itself that deserve attention.
Blackstone recently announced its quarterly dividend payment for shareholders on May 8th. Shareholders registered as at Monday, May 1st received a dividend of $0.82 per share held. This translates to an annualized dividend payout ratio of $3.28 and a yield of approximately 3.53%, providing shareholders with an attractive return on their investment.
In other news concerning insider activity at Blackstone, Multi-Asset Direct Blackstone sold three million shares on Thursday, June 15th at an average price per share of $8.50. The total transaction amount reached an astounding $25,500,000.00 as revealed by filings submitted to the SEC.
Director Joseph Baratta also participated in a significant stock sale earlier this year. On April 3rd, he sold 85,000 shares with an average price of $86.32, resulting in a total transaction value of $7,337,200.00. Following this transaction, Baratta now holds 1,145,448 shares of Blackstone’s stock with an estimated worth of roughly $98,875,071.36.
These insider transactions provide valuable insights into the company’s current position and may influence investor sentiment. However, it is important to approach such information with caution as it does not always indicate negative implications for the company. Insider transactions can be initiated for various reasons and may not necessarily reflect long-term prospects or performance.
It is worth mentioning that within the last three months alone, insiders at Blackstone have acquired 117,282 shares valued at $646,274 and sold off a substantial 3,430,100 shares which translated to approximately $43,380,183 in financial value. The ownership distribution suggests that insiders currently hold a mere 1% stake in the company.
Investors and market participants are advised to consider these recent activities alongsidethe broader industry trends and developments before making any investment decisions related to Blackstone Inc.
In conclusion, Close Asset Management Ltd’s increased stake in Blackstone serves as a testament to their confidence in the company’s potential for growth and profitability. As more developments unfold within Blackstone and its industry peers in the coming months and years ahead, market participants will continue to closely monitor these developments for strategic guidance and investment opportunities.
Disclaimer: The analysis presented here is based on public information obtained from official filings with the Securities and Exchange Commission (SEC). It should not be regarded as financial advice or an endorsement of any specific investment strategy or decision. Investors are advised to conduct thorough research and consult with professional advisors before making any investment decisions.
References:
– United States Securities and Exchange Commission (SEC)
– Blackstone Inc. Corporate Website
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Blackstone Inc.: Strong Institutional Investor Activity and Analyst Ratings Drive Growth Potential
Blackstone Inc., a renowned asset manager, has experienced significant activity from institutional investors and hedge funds. Proficio Capital Partners LLC expanded its position in Blackstone by a staggering 780.0% during the first quarter of this year, now owning 349,342 shares worth $3,561,000. CENTRAL TRUST Co increased its stake by 43.1%, holding 9,515 shares valued at $836,000. Nordea Investment Management AB also boosted its position by 1.6% to own 44,316 shares worth $3,830,000. Additionally, Harbour Capital Advisors LLC acquired a new position in Blackstone valued at approximately $263,000 during the same period.
Park Edge Advisors LLC witnessed a modest increase of 1.7% in their holdings of Blackstone during the first quarter. They currently possess 6,829 shares valued at $600,000 after acquiring an additional 113 shares.
These institutional investors collectively hold 63.65% of the company’s stock.
Numerous research analysts have expressed their thoughts on BX shares as well. Barclays raised their price objective from $94.00 to $99.00 and maintained an “equal weight” rating for the stock in a research report released on April 21st.
Bank of America also had positive sentiment towards Blackstone as they increased their target price from $98 to $109 and provided a “buy” rating for the stock on the same day.
On the other hand, Piper Sandler lowered their target price from $111 to $107 and assessed an “overweight” rating for Blackstone’s performance.
Wells Fargo & Company expressed optimism by raising their price target from $100 to $101 while labeling the stock as “overweight.”
However, Credit Suisse Group took a more negative stance by reducing their price target from $74 to $70.50 and issuing an “underperform” rating for the stock in their report.
The general consensus of Bloomberg.com suggests that the current average rating for Blackstone is a “Moderate Buy.” Moreover, analysts have set a consensus target price of $102.70.
Blackstone made headlines recently by announcing its quarterly dividend, which was distributed on May 8th. Investors recorded as of May 1st were paid a $0.82 dividend. This translates to an annualized dividend of $3.28 and offers a yield of 3.53%. The ex-dividend date occurred on April 28th, signaling anyone who bought shares after this date would not receive the dividend.
BX stock opened at $92.81 on Friday, showcasing relatively stable performance. The stock has also displayed stability in its moving averages with a 50-day simple moving average of $86.59 and a 200-day simple moving average of $86.06.
Blackstone Inc.’s one-year low stands at $71.72, while its one-year high reached an impressive $110.89 mark.
In terms of market capitalization, Blackstone currently stands at $65.53 billion. With a price-earnings (PE) ratio of 113.18 and a price-earnings growth (PEG) ratio of 1.47, the company demonstrates strong potential and growth prospects in the market.
The financial results for Blackstone’s first quarter were disclosed on April 20th, with the asset manager reporting earnings per share (EPS) of $0.97 – meeting consensus estimates precisely.
With a return on equity (ROE) of 18.51% and a net margin of 12.92%, these results highlight the company’s profitability amidst challenging economic conditions.
However, Blackstone experienced a considerable decline in revenue during this period compared to analyst estimates – only generating $1.38 billion in revenue instead of the anticipated $2.44 billion.
Nevertheless, it is pertinent to note that the firm’s revenue was down 73.0% in comparison to the same quarter of the previous year.
As a collective group, research analysts predict that Blackstone Inc.’s earnings per share for the current year will amount to 4.3.
Considering its remarkable performance, Blackstone continues to be a significant player in the asset management industry. The company’s strategies and vast institutional investor interest contribute to its stable position and growth potential in the market. In light of financial analysts’ ratings and forecasts, Blackstone remains an attractive option for investors seeking steady returns in today’s competitive investment landscape.
