International Assets Investment Management LLC Purchases 5,222 Shares of Blackstone Inc. (NYSE:BX)

International Assets Investment Management LLC boosted its position in shares of Blackstone Inc. (NYSE:BXGet Rating) by 34.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,517 shares of the asset manager’s stock after purchasing an additional 5,222 shares during the period. International Assets Investment Management LLC’s holdings in Blackstone were worth $2,655,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in BX. Marshall Wace LLP acquired a new position in shares of Blackstone during the 1st quarter worth about $50,000. Morgan Stanley boosted its stake in shares of Blackstone by 9.0% during the 2nd quarter. Morgan Stanley now owns 20,477,273 shares of the asset manager’s stock worth $1,989,163,000 after buying an additional 1,691,281 shares during the last quarter. First Horizon Advisors Inc. boosted its stake in shares of Blackstone by 168.9% during the 3rd quarter. First Horizon Advisors Inc. now owns 726 shares of the asset manager’s stock worth $73,000 after buying an additional 456 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Blackstone by 50.9% during the 3rd quarter. Principal Financial Group Inc. now owns 151,869 shares of the asset manager’s stock worth $17,668,000 after buying an additional 51,195 shares during the last quarter. Finally, Banque Pictet & Cie SA acquired a new position in shares of Blackstone during the 3rd quarter worth about $204,000. Hedge funds and other institutional investors own 63.68% of the company’s stock.

In other news, major shareholder Holdings L.P. Blackstone III sold 475,000 shares of Blackstone stock in a transaction that occurred on Monday, March 7th. The shares were sold at an average price of $60.79, for a total value of $28,875,250.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Tactical Opportunit Blackstone acquired 2,500,000 shares of the stock in a transaction on Friday, April 29th. The shares were purchased at an average price of $4.00 per share, with a total value of $10,000,000.00. Following the completion of the transaction, the insider now owns 26,839,187 shares of the company’s stock, valued at $107,356,748. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 2,510,094 shares of company stock valued at $11,189,865 and sold 1,090,152 shares valued at $66,040,454. 1.00% of the stock is currently owned by insiders.

A number of equities analysts have recently commented on the stock. StockNews.com assumed coverage on shares of Blackstone in a research note on Thursday, March 31st. They set a “hold” rating for the company. Citigroup cut their target price on shares of Blackstone from $132.50 to $117.00 and set a “neutral” rating for the company in a research note on Tuesday, April 12th. BMO Capital Markets raised their target price on shares of Blackstone from $124.00 to $142.00 and gave the company an “outperform” rating in a research note on Friday, April 22nd. Wells Fargo & Company raised their target price on shares of Blackstone from $120.00 to $122.00 and gave the company an “equal weight” rating in a research note on Friday, April 22nd. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $155.00 target price on shares of Blackstone in a research note on Wednesday, April 13th. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Blackstone has a consensus rating of “Hold” and a consensus price target of $139.73.

BX stock traded up $8.40 during mid-day trading on Friday, hitting $107.82. 6,445,827 shares of the company were exchanged, compared to its average volume of 4,861,327. The business has a 50 day simple moving average of $114.63 and a 200-day simple moving average of $124.79. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $75.55 billion, a PE ratio of 14.69, a price-to-earnings-growth ratio of 1.02 and a beta of 1.38. Blackstone Inc. has a 1-year low of $85.65 and a 1-year high of $149.78.

Blackstone (NYSE:BXGet Rating) last issued its quarterly earnings data on Thursday, April 21st. The asset manager reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.48. The firm had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $2.54 billion. Blackstone had a net margin of 23.77% and a return on equity of 19.20%. The business’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same period last year, the business posted $0.96 earnings per share. Equities research analysts expect that Blackstone Inc. will post 5.71 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, May 9th. Stockholders of record on Monday, May 2nd were given a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a dividend yield of 4.90%. This is an increase from Blackstone’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend was Friday, April 29th. Blackstone’s payout ratio is presently 71.93%.

About Blackstone (Get Rating)

Blackstone Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, public debt and equity and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services.

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Institutional Ownership by Quarter for Blackstone (NYSE:BX)

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