Blackstone Inc. $BX Shares Acquired by Schroder Investment Management Group

Schroder Investment Management Group increased its holdings in shares of Blackstone Inc. (NYSE:BXFree Report) by 1.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 364,696 shares of the asset manager’s stock after purchasing an additional 5,858 shares during the period. Schroder Investment Management Group’s holdings in Blackstone were worth $64,238,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Redwood Financial Network Corp grew its holdings in shares of Blackstone by 1.8% during the second quarter. Redwood Financial Network Corp now owns 3,588 shares of the asset manager’s stock worth $537,000 after buying an additional 65 shares during the last quarter. Obermeyer Wealth Partners grew its stake in shares of Blackstone by 2.3% in the 3rd quarter. Obermeyer Wealth Partners now owns 2,993 shares of the asset manager’s stock valued at $511,000 after purchasing an additional 66 shares during the last quarter. Klingman & Associates LLC increased its holdings in shares of Blackstone by 0.4% in the third quarter. Klingman & Associates LLC now owns 15,116 shares of the asset manager’s stock valued at $2,583,000 after purchasing an additional 67 shares during the period. Lazari Capital Management Inc. raised its stake in shares of Blackstone by 4.5% during the third quarter. Lazari Capital Management Inc. now owns 1,578 shares of the asset manager’s stock worth $270,000 after purchasing an additional 68 shares during the last quarter. Finally, MidWestOne Financial Group Inc. grew its position in Blackstone by 0.8% in the 3rd quarter. MidWestOne Financial Group Inc. now owns 8,335 shares of the asset manager’s stock valued at $1,424,000 after buying an additional 70 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Stock Down 0.7%

BX stock opened at $109.92 on Wednesday. Blackstone Inc. has a 52 week low of $105.09 and a 52 week high of $190.09. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.61. The company has a market cap of $81.58 billion, a P/E ratio of 28.33, a P/E/G ratio of 0.95 and a beta of 1.79. The company’s 50-day moving average price is $137.88 and its 200 day moving average price is $151.68.

Blackstone (NYSE:BXGet Free Report) last posted its quarterly earnings results on Thursday, January 29th. The asset manager reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.21. The company had revenue of $4.36 billion during the quarter, compared to the consensus estimate of $3.69 billion. Blackstone had a net margin of 20.89% and a return on equity of 22.17%. The company’s revenue for the quarter was up 41.4% on a year-over-year basis. During the same period last year, the firm earned $1.69 EPS. On average, research analysts expect that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 17th. Shareholders of record on Monday, February 9th were issued a $1.49 dividend. This represents a $5.96 annualized dividend and a yield of 5.4%. This is a positive change from Blackstone’s previous quarterly dividend of $1.29. The ex-dividend date of this dividend was Monday, February 9th. Blackstone’s dividend payout ratio is currently 153.61%.

Analyst Ratings Changes

A number of brokerages have commented on BX. UBS Group cut their price objective on shares of Blackstone from $171.00 to $137.00 and set a “neutral” rating for the company in a research report on Friday, February 20th. Argus cut their price target on shares of Blackstone from $195.00 to $163.00 and set a “buy” rating for the company in a report on Wednesday, February 4th. HSBC lowered their price objective on Blackstone from $178.00 to $174.00 and set a “hold” rating on the stock in a report on Wednesday, January 28th. Weiss Ratings reissued a “hold (c)” rating on shares of Blackstone in a research note on Wednesday, January 21st. Finally, The Goldman Sachs Group decreased their price target on Blackstone from $166.00 to $158.00 and set a “neutral” rating on the stock in a research note on Friday, January 30th. Eleven analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $165.86.

Read Our Latest Stock Report on Blackstone

Insider Transactions at Blackstone

In other Blackstone news, major shareholder Holdings Iv Gp Mana Blackstone acquired 1,146,789 shares of the company’s stock in a transaction dated Monday, February 23rd. The stock was acquired at an average cost of $26.16 per share, with a total value of $30,000,000.24. Following the purchase, the insider directly owned 16,716,249 shares in the company, valued at approximately $437,297,073.84. This trade represents a 7.37% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of the company’s stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $10.00, for a total value of $15,961,420.00. Additional details regarding this sale are available in the official SEC disclosure. 1.00% of the stock is currently owned by corporate insiders.

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Blackstone Profile

(Free Report)

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.

Further Reading

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Institutional Ownership by Quarter for Blackstone (NYSE:BX)

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