The Vanguard Group, Inc. has recently announced that it has increased stake in Blackstone Inc (NYSE:BX) by 28.24%. After grabbing 58.99 million shares, the institutional investor is now in possession of 12.99 million shares of the Financial Company. The new investment brought the stake of investor firm to 8.31% having worth around $5.45 billion. Moreover, Capital Research & Management Co increased its share by 62168.0 to have a control over 32.37 million shares. And BlackRock Fund Advisors raised its holdings to 7.57 million shares by acquiring 31.55 million shares or 4.45% of the stake.
Blackstone Inc (BX) concluded trading on 12/06/23 at a closing price of $112.11, with 6.17 million shares of worth about $691.63 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 29.45% during that period and on Wednesday the price saw a loss of about -2.75%. Currently the company’s common shares owned by public are about 710.28M shares, out of which, 704.18M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 23 analysts are covering the BX stock and their offered price forecasts bring an average price target of $106.72. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $120.00 and could fall to a lowest price of $89.00. The stock’s current price level is -5.05% below of average price target set by the analysts, while a dip to estimated low would result in loss of -25.97% for the stock. However, touching the estimated high of $120.00 would mean a gain of 6.58% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 47 times over the past 12 months. They bought 979,118 shares in 33 of the transactions. In 14 selling transactions, insiders dumped 413,747 shares.
Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and Schwab US Dividend Equity ETF are the top 3 mutual funds which are holding stakes in Blackstone Inc Vanguard Total Stock Market ETF is currently holding 22.22 million shares of worth totaling $2.05 billion. The company recently came buying 0.11 million shares which brought its stake up to 3.13% of the company’s outstanding shares. Vanguard 500 Index Fund bought 75329.0 shares, after which its hold over company’s outstanding shares expand to 2.42%, leaving 17.16 million shares with the mutual fund that have a worth of about $1.58 billion. Schwab US Dividend Equity ETF, after buying 11.3 million shares, have now control over 1.59% of the stake in the company. It holds 0.0 shares of worth $1.04 billion.
Blackstone Inc (NYSE: BX) started trading at $116.00, above $0.72 from concluding price of the previous day. However, the stock later moved at a day high price of 117.29, or with a loss of -2.75%. Stock saw a price change of 0.66% in past 5 days and over the past one month there was a price change of 14.01%. Year-to-date (YTD), BX shares are showing a performance of 53.43% which increased to 38.87% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $70.63 but also hit the highest price of $116.30 during that period. The average intraday trading volume for Blackstone Inc shares is 6.04 million. The stock is currently trading 5.96% above its 20-day simple moving average (SMA20), while that difference is up 9.40% for SMA50 and it goes to 17.84% higher than SMA200.
The Vanguard Group, Inc. acquired 58.99 million shares of Blackstone Inc having value of about $5.45 billion. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 12.99 million shares in the company valued at close to $1456027391.79, or have control over 28.24% stake in the company. Blackstone Inc (NYSE: BX) currently have 710.28M outstanding shares and institutions hold larger chunk of about 41.64% of that. Holding of mutual funds in the company is about 33.33% while other institutional holders and individual stake holders have control over 37.82% and 0.89% of the stake respectively.
The stock has a current market capitalization of $135.60B and its 3Y-monthly beta is at 1.49. PE ratio of stock for trailing 12 months is 46.97, while it has posted earnings per share of $2.39 in the same period. Its PEG reads 4.81 while making debt-to-equity ratio of 1.84. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for BX, volatility over the week remained 2.66% while standing at 2.26% over the month.
Analysts are in expectations that Blackstone Inc (BX) stock would likely to be making an EPS of $United States Steel Corporation in the current quarter, while forecast for next quarter EPS is $35.81 and it is $Stocks for next year. For the current quarter EPS, analysts have given the company a lowest target $BlackBerry Limited which is $Box, Inc. at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $BP p.l.c. in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -24.41% while it is estimated to increase by 36.55% in next year. EPS is likely to grow at an annualized rate of 9.78% for next 5-years, compared to annual growth of 1.33% made by the stock over the past 5-years.
Analysts at 23 brokerage firms have issued recommendations for the Blackstone Inc (BX)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.87. Out of those 23 Wall Street analysts, 13 recommended a “Buy” rating, while 10 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by BMO Capital Markets on Dec-07-23 offering a Market perform rating for the stock and assigned a target price of $95 to it.
