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 8.30% having worth around $7.72 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 4.44% of the stake.
Blackstone Inc (BX) concluded trading on Wednesday at a closing price of $120.63, with 3.71 million shares of worth about $447.59 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 16.47% during that period and On Wednesday, January 24 the price saw a gain of about 1.39%. Currently the company’s common shares owned by public are about 710.28M shares, out of which, 703.22M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 42 times over the past 12 months. They bought 714,501 shares in 28 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 22.31 million shares of worth totaling $2.92 billion. The company recently came buying 68127.0 shares which brought its stake up to 3.14% of the company’s outstanding shares. Vanguard 500 Index Fund bought 49642.0 shares, after which its hold over company’s outstanding shares expand to 2.44%, leaving 17.35 million shares with the mutual fund that have a worth of about $2.27 billion. Schwab US Dividend Equity ETF, after buying 11.19 million shares, have now control over 1.58% of the stake in the company. It holds 14819.0 shares of worth $1.47 billion.
Stock saw a price change of 3.12% in past 5 days and over the past one month there was a price change of -6.59%. Year-to-date (YTD), BX shares are showing a performance of -7.86% which increased to 39.46% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $75.26 but also hit the highest price of $133.53 during that period. The average intraday trading volume for Blackstone Inc shares is 3.56 million. The stock is currently trading -2.32% below its 20-day simple moving average (SMA20), while that difference is up 3.28% for SMA50 and it goes to 19.39% higher than SMA200.
The Vanguard Group, Inc. acquired 58.99 million shares of Blackstone Inc having value of about $7.72 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 $1566680798.07, 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 41.48% of that. Holding of mutual funds in the company is about 32.65% while other institutional holders and individual stake holders have control over 38.17% and 1.00% of the stake respectively.
The stock has a current market capitalization of $145.91B and its 3Y-monthly beta is at 1.50. PE ratio of stock for trailing 12 months is 50.54, while it has posted earnings per share of $2.39 in the same period. Its PEG reads 8.95 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 2.26% while standing at 2.09% over the month.
Analysts are in expectations that Blackstone Inc (BX) stock would likely to be making an EPS of $0.96 in the current quarter, while forecast for next quarter EPS is $1.04 and it is $5.14 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.84 which is $1.16 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 $1.07 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -26.32% while it is estimated to increase by 33.42% in next year. EPS is likely to grow at an annualized rate of 5.64% for next 5-years, compared to annual growth of 1.33% made by the stock over the past 5-years.
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 Citigroup on January 19, 2024 offering a Neutral rating for the stock and assigned a target price range of between $116 and $124 to it.
