State Street Corp Has $4.86 Billion Position in Blackstone Inc. $BX

State Street Corp boosted its holdings in shares of Blackstone Inc. (NYSE:BX) by 0.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,542,009 shares of the asset manager’s stock after buying an additional 179,213 shares during the period. State Street Corp’s holdings in Blackstone were worth $4,861,885,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Blackstone by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 71,667,695 shares of the asset manager’s stock worth $11,046,859,000 after buying an additional 840,258 shares in the last quarter. Norges Bank acquired a new stake in Blackstone during the fourth quarter worth $1,275,747,000. Northern Trust Corp boosted its stake in shares of Blackstone by 4.7% in the 3rd quarter. Northern Trust Corp now owns 7,324,989 shares of the asset manager’s stock valued at $1,251,474,000 after purchasing an additional 329,379 shares in the last quarter. Capital Research Global Investors boosted its stake in shares of Blackstone by 99.2% in the 4th quarter. Capital Research Global Investors now owns 6,381,767 shares of the asset manager’s stock valued at $983,690,000 after purchasing an additional 3,178,133 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of Blackstone by 3.2% in the 3rd quarter. Legal & General Group Plc now owns 4,677,997 shares of the asset manager’s stock valued at $799,236,000 after purchasing an additional 145,056 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on BX shares. Weiss Ratings downgraded shares of Blackstone from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 4th. Morgan Stanley reduced their target price on shares of Blackstone from $215.00 to $184.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 21st. UBS Group reduced their target price on shares of Blackstone from $171.00 to $137.00 and set a “neutral” rating on the stock in a research note on Friday, February 20th. HSBC reduced their target price on shares of Blackstone from $164.00 to $131.00 and set a “hold” rating on the stock in a research note on Friday, April 10th. Finally, Dbs Bank upgraded shares of Blackstone to a “moderate buy” rating in a research note on Wednesday, May 27th. Thirteen equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $150.86.

Insider Activity

In other Blackstone news, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,504 shares of the business’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $3.51, for a total transaction of $26,246,039.04. Following the completion of the sale, the insider directly owned 25,832 shares of the company’s stock, valued at approximately $90,670.32. The trade was a 99.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Treasury Holdings I. Blackstone acquired 9,486,795 shares of the company’s stock in a transaction on Friday, May 15th. The shares were purchased at an average cost of $20.00 per share, with a total value of $189,735,900.00. Following the completion of the acquisition, the insider directly owned 9,111,800 shares in the company, valued at approximately $182,236,000. The trade was a -2,529.85% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders purchased 12,355,303 shares of company stock worth $264,789,896. Corporate insiders own 1.00% of the company’s stock.

Blackstone Stock Up 1.5%

Shares of NYSE BX opened at $122.63 on Friday. The firm’s 50-day simple moving average is $119.98 and its 200 day simple moving average is $131.03. The company has a market cap of $91.10 billion, a price-to-earnings ratio of 31.36, a price-to-earnings-growth ratio of 1.31 and a beta of 1.59. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.66. Blackstone Inc. has a 12-month low of $101.73 and a 12-month high of $190.09.

Blackstone (NYSE:BX) last issued its quarterly earnings results on Thursday, April 23rd. The asset manager reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.02. The business had revenue of $3.43 billion for 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 firm’s quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.11 EPS. On average, research analysts expect that Blackstone Inc. will post 5.9 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 11th. Shareholders of record on Monday, May 4th were issued a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend was Monday, May 4th. Blackstone’s payout ratio is currently 118.67%.

Blackstone Company 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.