Meitav Investment House Ltd. Has $57.59 Million Stock Holdings in Blackstone Inc. $BX

Meitav Investment House Ltd. grew its stake in Blackstone Inc. (NYSE:BX) by 39.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 337,613 shares of the asset manager’s stock after acquiring an additional 95,022 shares during the period. Meitav Investment House Ltd.’s holdings in Blackstone were worth $57,590,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of BX. Traub Capital Management LLC acquired a new position in shares of Blackstone during the second quarter valued at $27,000. Family CFO Inc acquired a new position in Blackstone during the 2nd quarter valued at about $28,000. Parvin Asset Management LLC acquired a new stake in shares of Blackstone during the 2nd quarter worth approximately $35,000. Rexford Capital Inc. acquired a new position in Blackstone in the second quarter valued at approximately $35,000. Finally, RMG Wealth Management LLC bought a new position in Blackstone in the second quarter valued at approximately $40,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on BX. Keefe, Bruyette & Woods cut their target price on Blackstone from $180.00 to $171.00 and set a “market perform” rating on the stock in a research note on Monday, October 13th. Rothschild & Co Redburn decreased their price objective on shares of Blackstone from $168.00 to $165.00 and set a “neutral” rating for the company in a report on Thursday. BMO Capital Markets reduced their price target on shares of Blackstone from $190.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, October 27th. Jefferies Financial Group lowered their price objective on shares of Blackstone from $187.00 to $185.00 and set a “buy” rating for the company in a research report on Thursday, January 8th. Finally, Piper Sandler lowered their price target on Blackstone from $173.00 to $168.00 and set a “neutral” rating for the company in a report on Friday, October 24th. Ten investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $177.25.

Blackstone Trading Up 1.8%

Shares of NYSE:BX opened at $163.67 on Friday. The stock has a market capitalization of $120.86 billion, a PE ratio of 46.76, a price-to-earnings-growth ratio of 1.15 and a beta of 1.75. The company’s 50-day moving average price is $151.03 and its two-hundred day moving average price is $161.32. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.75 and a quick ratio of 0.75. Blackstone Inc. has a one year low of $115.66 and a one year high of $190.09.

Blackstone (NYSE:BX) last released its earnings results on Thursday, October 23rd. The asset manager reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.29. The business had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.14 billion. Blackstone had a return on equity of 22.30% and a net margin of 20.56%.Blackstone’s revenue was down 15.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.02 earnings per share. On average, equities analysts forecast that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 10th. Shareholders of record on Monday, November 3rd were given a dividend of $1.29 per share. This represents a $5.16 annualized dividend and a yield of 3.2%. This is an increase from Blackstone’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend was Monday, November 3rd. Blackstone’s payout ratio is currently 147.43%.

Insider Activity

In other news, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of Blackstone stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $10.00, for a total transaction of $15,961,420.00. Following the completion of the transaction, the insider directly owned 2,161 shares in the company, valued at approximately $21,610. The trade was a 99.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James Breyer purchased 13,900 shares of the business’s stock in a transaction on Tuesday, November 4th. The shares were acquired at an average cost of $143.86 per share, with a total value of $1,999,654.00. Following the acquisition, the director directly owned 68,906 shares in the company, valued at approximately $9,912,817.16. The trade was a 25.27% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 797,148 shares of company stock valued at $24,050,153 over the last quarter. 1.00% of the stock is currently owned by company insiders.

Blackstone Profile

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.