Blackstone Inc. (NYSE:BX) Shares Acquired by Davis R M Inc.

Davis R M Inc. increased its stake in shares of Blackstone Inc. (NYSE:BX) by 29.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,393 shares of the asset manager’s stock after buying an additional 1,445 shares during the quarter. Davis R M Inc.’s holdings in Blackstone were worth $979,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in BX. Wulff Hansen & CO. raised its holdings in shares of Blackstone by 12,192.7% during the second quarter. Wulff Hansen & CO. now owns 7,340,845 shares of the asset manager’s stock valued at $908,797,000 after buying an additional 7,281,128 shares during the last quarter. Legal & General Group Plc increased its stake in shares of Blackstone by 2.3% during the second quarter. Legal & General Group Plc now owns 6,266,207 shares of the asset manager’s stock valued at $775,758,000 after acquiring an additional 141,616 shares during the period. International Assets Investment Management LLC lifted its position in Blackstone by 15,357.3% in the third quarter. International Assets Investment Management LLC now owns 4,201,150 shares of the asset manager’s stock worth $6,433,220,000 after purchasing an additional 4,173,971 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Blackstone by 1.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,931,411 shares of the asset manager’s stock valued at $602,017,000 after purchasing an additional 61,739 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Blackstone by 1.5% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,591,452 shares of the asset manager’s stock valued at $243,699,000 after buying an additional 24,199 shares during the period. 70.00% of the stock is currently owned by institutional investors.

Blackstone Stock Down 3.0 %

BX stock opened at $193.12 on Tuesday. The business’s 50-day simple moving average is $166.63 and its 200 day simple moving average is $143.28. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. The company has a market cap of $139.43 billion, a PE ratio of 66.36, a price-to-earnings-growth ratio of 1.69 and a beta of 1.49. Blackstone Inc. has a twelve month low of $105.51 and a twelve month high of $200.96.

Blackstone (NYSE:BX) last issued its earnings results on Thursday, October 17th. The asset manager reported $1.01 EPS for the quarter, topping the consensus estimate of $0.91 by $0.10. The firm had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.37 billion. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. On average, research analysts anticipate that Blackstone Inc. will post 4.4 earnings per share for the current year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Monday, October 28th were issued a dividend of $0.86 per share. This is an increase from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 annualized dividend and a yield of 1.78%. The ex-dividend date was Monday, October 28th. Blackstone’s dividend payout ratio (DPR) is currently 118.21%.

Insider Transactions at Blackstone

In related news, Director Joseph Baratta sold 116,448 shares of the firm’s 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 transaction, the director now owns 799,749 shares in the company, valued at $120,610,146.69. This trade represents a 12.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John G. Finley sold 42,249 shares of Blackstone stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the sale, the insider now directly owns 387,137 shares of the company’s stock, valued at $68,112,883.78. This represents a 9.84 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on BX shares. Morgan Stanley upped their price target on shares of Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Citigroup raised their target price on Blackstone from $157.00 to $170.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. The Goldman Sachs Group increased their target price on shares of Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. BMO Capital Markets boosted their target price on shares of Blackstone from $112.00 to $134.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. Finally, JPMorgan Chase & Co. upped their price target on Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Thirteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $157.63.

Blackstone Profile

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.