USS Investment Management Ltd Has $14.24 Million Stake in Blackstone Inc. $BX

USS Investment Management Ltd lifted its position in shares of Blackstone Inc. (NYSE:BX) by 5.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 123,861 shares of the asset manager’s stock after buying an additional 6,039 shares during the quarter. USS Investment Management Ltd’s holdings in Blackstone were worth $14,242,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Strive Asset Management LLC acquired a new position in shares of Blackstone in the 3rd quarter valued at about $30,000. Family CFO Inc bought a new stake in shares of Blackstone in the 4th quarter valued at $28,000. Ares Financial Consulting LLC acquired a new position in shares of Blackstone during the 4th quarter valued at $28,000. Richardson Financial Services Inc. acquired a new stake in Blackstone in the fourth quarter worth $29,000. Finally, Kelleher Financial Advisors acquired a new position in shares of Blackstone during the third quarter valued at about $34,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, major shareholder Treasury Holdings I. Blackstone acquired 9,486,795 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The shares were bought at an average cost of $20.00 per share, for a total transaction of $189,735,900.00. Following the purchase, the insider owned 9,111,800 shares in the company, valued at $182,236,000. This trade represents a -2,529.85% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,500 shares of the stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $3.78, for a total transaction of $28,264,950.00. Following the completion of the sale, the insider directly owned 19,374 shares in the company, valued at approximately $73,233.72. The trade was a 99.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders bought 10,252,345 shares of company stock valued at $209,789,893 in the last 90 days. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on BX. Argus reduced their price objective on Blackstone from $163.00 to $146.00 and set a “buy” rating for the company in a research note on Tuesday, April 28th. Evercore reissued an “outperform” rating and issued a $150.00 price target on shares of Blackstone in a research report on Tuesday, April 21st. Deutsche Bank Aktiengesellschaft started coverage on shares of Blackstone in a research note on Monday, June 8th. They issued a “buy” rating on the stock. BNP Paribas Exane dropped their price target on shares of Blackstone from $126.00 to $125.00 and set a “neutral” rating on the stock in a research report on Tuesday. Finally, TD Cowen cut their price target on Blackstone from $140.00 to $133.00 and set a “buy” rating for the company in a research note on Monday, May 18th. Thirteen investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $149.36.

Blackstone Trading Up 1.6%

Shares of BX stock opened at $119.55 on Thursday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.66. The company has a 50 day moving average of $119.94 and a 200-day moving average of $128.26. Blackstone Inc. has a 12-month low of $101.73 and a 12-month high of $190.09. The firm has a market cap of $88.81 billion, a P/E ratio of 30.58, a PEG ratio of 1.28 and a beta of 1.58.

Blackstone (NYSE:BX) last posted its earnings results on Thursday, April 23rd. The asset manager reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.02. The firm had revenue of $3.43 billion during the quarter, compared to the consensus estimate of $3.45 billion. Blackstone had a net margin of 20.67% and a return on equity of 22.86%. The company’s revenue was up 10.0% on a year-over-year basis. During the same quarter last year, the company earned $1.11 earnings per share. Sell-side analysts anticipate that Blackstone Inc. will post 5.9 earnings per share for the current year.

Blackstone Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 11th. Shareholders of record on Monday, May 4th were given a dividend of $1.16 per share. The ex-dividend date was Monday, May 4th. This represents a $4.64 annualized dividend and a dividend yield of 3.9%. Blackstone’s dividend payout ratio is currently 118.67%.

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.