International Assets Investment Management LLC Increases Stake in Blackstone Inc. (NYSE:BX)

International Assets Investment Management LLC grew its position in shares of Blackstone Inc. (NYSE:BX) by 15,357.3% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,201,150 shares of the asset manager’s stock after buying an additional 4,173,971 shares during the quarter. Blackstone accounts for 0.9% of International Assets Investment Management LLC’s investment portfolio, making the stock its 18th largest holding. International Assets Investment Management LLC’s holdings in Blackstone were worth $6,433,220,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in BX. Wulff Hansen & CO. increased its holdings in shares of Blackstone by 12,192.7% in the 2nd quarter. Wulff Hansen & CO. now owns 7,340,845 shares of the asset manager’s stock valued at $908,797,000 after purchasing an additional 7,281,128 shares in the last quarter. Capital World Investors increased its holdings in shares of Blackstone by 7.5% in the 1st quarter. Capital World Investors now owns 36,285,872 shares of the asset manager’s stock valued at $4,766,875,000 after purchasing an additional 2,546,886 shares in the last quarter. Lazard Asset Management LLC increased its holdings in Blackstone by 19,048.1% during the 1st quarter. Lazard Asset Management LLC now owns 1,883,409 shares of the asset manager’s stock valued at $247,423,000 after acquiring an additional 1,873,573 shares in the last quarter. Vanguard Group Inc. increased its holdings in Blackstone by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 64,262,972 shares of the asset manager’s stock valued at $8,442,227,000 after acquiring an additional 1,290,324 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in Blackstone by 213.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,375,969 shares of the asset manager’s stock valued at $170,345,000 after acquiring an additional 937,084 shares in the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. The Goldman Sachs Group raised their target price on shares of Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Wells Fargo & Company raised their target price on shares of Blackstone from $169.00 to $188.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Blackstone from $145.00 to $146.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Bank of America raised their price target on shares of Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Finally, Piper Sandler cut shares of Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 price target on the stock. in a research note on Wednesday, October 9th. Thirteen analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $155.38.

Insider Activity at Blackstone

In other news, insider John G. Finley sold 35,000 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $131.74, for a total value of $4,610,900.00. Following the completion of the sale, the insider now owns 429,386 shares in the company, valued at approximately $56,567,311.64. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Joseph Baratta sold 116,448 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $150.81, for a total value of $17,561,522.88. Following the completion of the sale, the director now owns 799,749 shares in the company, valued at approximately $120,610,146.69. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John G. Finley sold 35,000 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total value of $4,610,900.00. Following the completion of the sale, the insider now owns 429,386 shares of the company’s stock, valued at approximately $56,567,311.64. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

Blackstone Price Performance

BX opened at $166.92 on Thursday. The stock has a market capitalization of $119.29 billion, a PE ratio of 58.98, a P/E/G ratio of 1.24 and a beta of 1.51. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.77 and a current ratio of 0.77. Blackstone Inc. has a 1 year low of $88.59 and a 1 year high of $175.94. The company’s 50 day simple moving average is $149.16 and its 200 day simple moving average is $134.15.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Monday, October 28th will be given a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a yield of 2.06%. This is a boost from Blackstone’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Monday, October 28th. Blackstone’s dividend payout ratio is 121.55%.

About Blackstone

Blackstone Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, public debt and equity and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services.