Blackstone Inc. (NYSE:BX) Shares Purchased by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. lifted its stake in Blackstone Inc. (NYSE:BXFree Report) by 5.8% in the 3rd quarter, Holdings Channel reports. The firm owned 288,181 shares of the asset manager’s stock after purchasing an additional 15,903 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Blackstone were worth $30,889,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Rainsberger Wealth Advisors Inc. lifted its stake in shares of Blackstone by 2.4% in the third quarter. Rainsberger Wealth Advisors Inc. now owns 10,864 shares of the asset manager’s stock valued at $1,164,000 after purchasing an additional 251 shares during the period. Schroder Investment Management Group increased its holdings in Blackstone by 17.3% during the 3rd quarter. Schroder Investment Management Group now owns 86,971 shares of the asset manager’s stock valued at $9,318,000 after acquiring an additional 12,852 shares in the last quarter. Jackson Wealth Management LLC increased its holdings in Blackstone by 1.1% during the 3rd quarter. Jackson Wealth Management LLC now owns 41,274 shares of the asset manager’s stock valued at $4,422,000 after acquiring an additional 432 shares in the last quarter. Knightsbridge Asset Management LLC purchased a new position in Blackstone during the 3rd quarter valued at about $388,000. Finally, KPP Advisory Services LLC purchased a new position in Blackstone during the 3rd quarter valued at about $799,000. Institutional investors and hedge funds own 63.35% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on BX. BMO Capital Markets lifted their price target on shares of Blackstone from $95.00 to $101.00 and gave the stock a “market perform” rating in a report on Friday, January 26th. JPMorgan Chase & Co. lifted their price target on shares of Blackstone from $91.00 to $96.00 and gave the stock a “neutral” rating in a report on Friday, January 26th. The Goldman Sachs Group downgraded shares of Blackstone from a “buy” rating to a “neutral” rating and boosted their target price for the company from $115.00 to $128.00 in a report on Wednesday, January 3rd. Citigroup downgraded shares of Blackstone from a “buy” rating to a “neutral” rating and boosted their target price for the company from $116.00 to $124.00 in a report on Friday, January 19th. Finally, Morgan Stanley boosted their target price on shares of Blackstone from $120.00 to $144.00 and gave the company an “overweight” rating in a report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $119.53.

Read Our Latest Analysis on Blackstone

Insider Buying and Selling at Blackstone

In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the stock in a transaction dated Sunday, March 3rd. The shares were sold at an average price of $11.10, for a total transaction of $27,853,407.60. Following the completion of the transaction, the insider now owns 12,802 shares in the company, valued at $142,102.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, CAO David Payne sold 5,500 shares of the company’s stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $128.21, for a total value of $705,155.00. Following the transaction, the chief accounting officer now owns 47,781 shares in the company, valued at approximately $6,126,002.01. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the company’s stock in a transaction dated Sunday, March 3rd. The shares were sold at an average price of $11.10, for a total transaction of $27,853,407.60. Following the sale, the insider now directly owns 12,802 shares of the company’s stock, valued at approximately $142,102.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,592,668 shares of company stock worth $38,521,631. 1.00% of the stock is owned by corporate insiders.

Blackstone Stock Performance

Shares of BX stock opened at $124.87 on Friday. The stock has a market cap of $89.24 billion, a P/E ratio of 68.23, a P/E/G ratio of 0.99 and a beta of 1.51. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.80 and a quick ratio of 0.80. The company has a fifty day moving average price of $124.47 and a two-hundred day moving average price of $113.71. Blackstone Inc. has a one year low of $76.19 and a one year high of $133.53.

Blackstone (NYSE:BXGet Free Report) last posted its earnings results on Thursday, January 25th. The asset manager reported $1.11 EPS for the quarter, topping the consensus estimate of $0.95 by $0.16. Blackstone had a net margin of 17.34% and a return on equity of 17.30%. The business had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $2.48 billion. During the same period last year, the company earned $1.07 EPS. As a group, equities analysts predict that Blackstone Inc. will post 4.92 EPS for the current year.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 12th. Investors of record on Monday, February 5th were given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date of this dividend was Friday, February 2nd. This is an increase from Blackstone’s previous quarterly dividend of $0.80. Blackstone’s payout ratio is presently 205.46%.

Blackstone Profile

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding BX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Blackstone Inc. (NYSE:BXFree Report).

Institutional Ownership by Quarter for Blackstone (NYSE:BX)

Receive News & Ratings for Blackstone Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Blackstone and related companies with MarketBeat.com's FREE daily email newsletter.