Blackstone Inc. $BX Stock Bought by International Assets Investment Management LLC

International Assets Investment Management LLC grew its holdings in Blackstone Inc. (NYSE:BX) by 17.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,665 shares of the asset manager’s stock after acquiring an additional 5,914 shares during the period. International Assets Investment Management LLC’s holdings in Blackstone were worth $4,564,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of BX. Jupiter Topco LLC acquired a new stake in shares of Blackstone in the second quarter valued at approximately $221,478,000. Manning & Napier Advisors LLC acquired a new position in shares of Blackstone in the 2nd quarter valued at $8,667,000. Sequoia Financial Advisors LLC raised its position in Blackstone by 5.1% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 245,370 shares of the asset manager’s stock valued at $28,873,000 after purchasing an additional 11,983 shares during the last quarter. Wedmont Private Capital raised its position in Blackstone by 82.5% in the 3rd quarter. Wedmont Private Capital now owns 23,206 shares of the asset manager’s stock valued at $2,615,000 after purchasing an additional 10,489 shares during the last quarter. Finally, Matrix Private Capital Group LLC acquired a new stake in Blackstone during the 1st quarter worth $1,340,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Analyst Upgrades and Downgrades

BX has been the topic of several research reports. HSBC reissued a “hold” rating and set a $135.00 price objective on shares of Blackstone in a research report on Monday, July 20th. Oppenheimer increased their target price on shares of Blackstone from $164.00 to $168.00 and gave the stock an “outperform” rating in a research note on Friday, October 23rd. BMO Capital Markets reissued an “outperform” rating and set a $130.00 price target on shares of Blackstone in a report on Wednesday, October 21st. Piper Sandler set a $126.00 price target on Blackstone in a research report on Friday, October 23rd. Finally, Royal Bank Of Canada upped their price objective on Blackstone from $161.00 to $169.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Thirteen research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat, Blackstone presently has an average rating of “Moderate Buy” and an average price target of $144.57.

Blackstone Stock Performance

NYSE:BX opened at $119.66 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.71 and a quick ratio of 0.72. The firm has a market cap of $89.82 billion, a price-to-earnings ratio of 26.59, a price-to-earnings-growth ratio of 1.52 and a beta of 1.52. The firm’s fifty day moving average price is $120.38 and its 200 day moving average price is $123.52. Blackstone Inc. has a 1-year low of $101.73 and a 1-year high of $165.14.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Thursday, October 22nd. The asset manager reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.06. Blackstone had a net margin of 22.11% and a return on equity of 23.16%. The company had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.27 billion. During the same quarter in the prior year, the firm earned $0.80 EPS. Blackstone’s quarterly revenue was down .8% on a year-over-year basis. On average, sell-side analysts expect that Blackstone Inc. will post 5.89 EPS for the current year.

Blackstone Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 9th. Stockholders of record on Monday, November 2nd will be paid a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.7%. This is a negative change from Blackstone’s previous quarterly dividend of $1.29. The ex-dividend date is Monday, November 2nd. Blackstone’s dividend payout ratio (DPR) is presently 99.56%.

Insider Activity

In other Blackstone news, major shareholder Bx Buzz Ml-1 Gp Llc sold 3,767,776 shares of the business’s stock in a transaction that occurred on Monday, September 28th. The stock was sold at an average price of $2.94, for a total transaction of $11,077,261.44. Following the transaction, the insider owned 16,120 shares in the company, valued at approximately $47,392.80. The trade was a 99.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider John G. Finley sold 45,000 shares of the stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $147.11, for a total value of $6,619,950.00. Following the transaction, the insider directly owned 516,017 shares of the company’s stock, valued at approximately $75,911,260.87. This trade represents a 8.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders bought 464,792 shares of company stock valued at $12,205,945 and sold 4,047,276 shares valued at $33,507,144. Company insiders own 1.00% of the company’s stock.

Blackstone Profile

Blackstone Inc is a global alternative asset manager that invests on behalf of institutional and individual investors. Its businesses span private equity, real estate, credit and insurance, infrastructure, and multi-asset investing, with strategies that include private funds and investment products for a range of clients.

Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson, the firm initially focused on mergers and acquisitions advisory work before expanding into investment management.