New Big Money Means The Blackstone Group Inc. (BX) Investors Could Reap Benefit

1,255 institutions hold shares in The Blackstone Group Inc. (BX), with 4.63M shares held by insiders accounting for 0.70% while institutional investors hold 64.08% of the company’s shares. The shares outstanding are 700.19M, and float is at 659.42M with Short Float at 0.78%. Institutions hold 63.63% of the Float.

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The top institutional shareholder in the company is Wellington Management Company, LLP with over 42.74 million shares valued at $2.77 billion. The investor’s holdings represent 6.34% of the BX Shares outstanding. As of Dec 30, 2020, the second largest holder is Vanguard Group, Inc. (The) with 37.27 million shares valued at $2.42 billion to account for 5.53% of the shares outstanding. The other top investors are Blackrock Inc. which holds 20.1 million shares representing 2.98% and valued at over $1.3 billion, while Morgan Stanley holds 2.97% of the shares totaling 20.02 million with a market value of $1.3 billion.

The Blackstone Group Inc. (NYSE: BX) is 6.93% higher on its value in year-to-date trading and has touched a low of $33.00 and a high of $72.10 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The BX stock was last observed hovering at around $69.52 in the last trading session, with the day’s loss setting it -0.22% off its average median price target of $72.00 for the next 12 months. It is also 17.5% off the consensus price target high of $84.00 offered by 20 analysts, but current levels are -13.61% lower than the price target low of $61.00 for the same period.

Currently trading at $69.30, the stock is 0.15% and 4.87% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.34 million and changing -0.32% at the moment leaves the stock 20.07% off its SMA200. BX registered 18.34% gain for a year compared to 6-month gain of 30.83%. The firm has a 50-day simple moving average (SMA 50) of $67.00 and a 200-day simple moving average (SMA200) of $58.87.

The stock witnessed a 6.57% loss in the last 1 month and extending the period to 3 months gives it a 18.18%, and is -1.48% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 1.57% over the week and 2.39% over the month.

The Blackstone Group Inc. (BX) has around 2905 employees, a market worth around $82.82B and $6.10B in sales. Current P/E ratio is 63.29 and Fwd P/E is 18.57. Profit margin for the company is 12.50%. Distance from 52-week low is 110.00% and -3.88% from its 52-week high. The company has generated returns on investments over the last 12 months (19.60%).

The Blackstone Group Inc. (BX) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for The Blackstone Group Inc. (BX) is a “Overweight”. 20 analysts offering their recommendations for the stock have an average rating of 2.00, where 5 rate it as a Hold and 0 think it is a “Overweight”. 15 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

The Blackstone Group Inc. is expected to release its quarterly report on 04/22/2021 and quarterly earnings per share for the current quarter are estimated at $0.72 with sales reaching $1.67B over the same period.The EPS is expected to grow by 34.10% this year, but quarterly earnings will post 16.50% year-over-year. Quarterly sales are estimated to grow 46.40% in year-over-year returns.

The Blackstone Group Inc. (BX) Insider Activity

A total of 21 insider transactions have happened at The Blackstone Group Inc. (BX) in the last six months, with sales accounting for 4 and purchases happening 17 times. The most recent transaction is an insider purchase by Blackstone BDC Holdings LLC, the company’s 10% Owner. SEC filings show that Blackstone BDC Holdings LLC bought 997,940 shares of the company’s common stock on Jan 07 at a price of $25.00 per share for a total of $24.95 million. Following the purchase, the insider now owns 1.0 million shares.

The Blackstone Group Inc. disclosed in a document filed with the SEC on Jan 04 that Blackstone Holdings III L.P. (10% Owner) bought a total of 42,425 shares of the company’s common stock. The trade occurred on Jan 04 and was made at $34.93 per share for $1.48 million. Following the transaction, the insider now directly holds 2.29 million shares of the BX stock.

Still, SEC filings show that on Dec 31, Blackstone Holdings III L.P. (10% Owner) acquired 71,532 shares at an average price of $34.96 for $2.5 million. The insider now directly holds 2,321,951 shares of The Blackstone Group Inc. (BX).

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