Nomura Asset Management Co. Ltd. Sells 4,474 Shares of Blackstone Inc. $BX

Nomura Asset Management Co. Ltd. reduced its holdings in Blackstone Inc. (NYSE:BXFree Report) by 1.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 422,198 shares of the asset manager’s stock after selling 4,474 shares during the quarter. Nomura Asset Management Co. Ltd. owned 0.06% of Blackstone worth $65,078,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of BX. REAP Financial Group LLC bought a new stake in shares of Blackstone in the third quarter worth about $26,000. Family CFO Inc bought a new stake in shares of Blackstone in the fourth quarter worth about $28,000. Ares Financial Consulting LLC bought a new stake in shares of Blackstone in the fourth quarter worth about $28,000. Richardson Financial Services Inc. bought a new stake in shares of Blackstone in the fourth quarter worth about $29,000. Finally, Redmont Wealth Advisors LLC bought a new stake in shares of Blackstone in the third quarter worth about $30,000. 70.00% of the stock is currently owned by institutional investors.

Blackstone Stock Performance

Shares of NYSE BX opened at $117.05 on Monday. The stock has a 50 day moving average price of $118.68 and a 200 day moving average price of $132.60. Blackstone Inc. has a 52 week low of $101.73 and a 52 week high of $190.09. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.76 and a current ratio of 0.76. The stock has a market capitalization of $86.95 billion, a PE ratio of 29.93, a price-to-earnings-growth ratio of 1.27 and a beta of 1.59.

Blackstone (NYSE:BXGet Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The asset manager reported $1.36 EPS for the quarter, beating the consensus estimate of $1.34 by $0.02. Blackstone had a return on equity of 22.86% and a net margin of 20.67%.The firm had revenue of $3.43 billion during the quarter, compared to analysts’ expectations of $3.45 billion. During the same period in the prior year, the firm posted $1.11 earnings per share. The business’s quarterly revenue was up 10.0% compared to the same quarter last year. Analysts predict that Blackstone Inc. will post 5.9 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 11th. Investors of record on Monday, May 4th were given a dividend of $1.16 per share. The ex-dividend date of this dividend was Monday, May 4th. This represents a $4.64 annualized dividend and a yield of 4.0%. Blackstone’s dividend payout ratio is 118.67%.

Key Headlines Impacting Blackstone

Here are the key news stories impacting Blackstone this week:

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on BX shares. Morgan Stanley reduced their price objective on Blackstone from $215.00 to $184.00 and set an “overweight” rating for the company in a research report on Tuesday, April 21st. Dbs Bank raised Blackstone to a “moderate buy” rating in a research report on Wednesday, May 27th. Deutsche Bank Aktiengesellschaft reduced their price objective on Blackstone from $156.00 to $146.00 and set a “buy” rating for the company in a research report on Friday, April 24th. Argus reduced their price objective on Blackstone from $163.00 to $146.00 and set a “buy” rating for the company in a research report on Tuesday, April 28th. Finally, BMO Capital Markets upped their price objective on Blackstone from $126.00 to $132.00 and gave the stock an “outperform” rating in a research report on Monday, April 13th. Twelve research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Blackstone has an average rating of “Hold” and a consensus price target of $151.05.

Get Our Latest Analysis on Blackstone

Insider Transactions at Blackstone

In other Blackstone news, insider Vikrant Sawhney sold 30,014 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $125.79, for a total value of $3,775,461.06. Following the sale, the insider owned 899,669 shares in the company, valued at $113,169,363.51. This represents a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ruth Porat acquired 355 shares of the company’s stock in a transaction on Monday, May 11th. The stock was acquired at an average price of $123.04 per share, for a total transaction of $43,679.20. Following the purchase, the director directly owned 41,818 shares of the company’s stock, valued at approximately $5,145,286.72. This trade represents a 0.86% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have purchased 12,355,303 shares of company stock valued at $264,789,896 and have sold 7,532,518 shares valued at $30,496,500. 1.00% of the stock is currently owned by corporate insiders.

About Blackstone

(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.

See Also

Want to see what other hedge funds are holding BX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Blackstone Inc. (NYSE:BXFree Report).

Institutional Ownership by Quarter for Blackstone (NYSE:BX)

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