Blackstone Inc. (NYSE:BX) Shares Bought by QRG Capital Management Inc.

QRG Capital Management Inc. grew its holdings in shares of Blackstone Inc. (NYSE:BXFree Report) by 27.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 54,969 shares of the asset manager’s stock after purchasing an additional 11,761 shares during the period. QRG Capital Management Inc.’s holdings in Blackstone were worth $7,197,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of BX. Vanguard Group Inc. grew its holdings in Blackstone by 30.2% during the third quarter. Vanguard Group Inc. now owns 62,091,903 shares of the asset manager’s stock worth $6,652,526,000 after acquiring an additional 14,396,655 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Blackstone by 13.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 14,825,769 shares of the asset manager’s stock worth $1,588,433,000 after acquiring an additional 1,744,652 shares during the period. Northern Trust Corp grew its holdings in Blackstone by 43.9% during the third quarter. Northern Trust Corp now owns 6,877,288 shares of the asset manager’s stock worth $736,833,000 after acquiring an additional 2,098,150 shares during the period. Legal & General Group Plc increased its stake in Blackstone by 2.1% in the 3rd quarter. Legal & General Group Plc now owns 5,246,005 shares of the asset manager’s stock worth $562,058,000 after purchasing an additional 106,251 shares in the last quarter. Finally, International Assets Investment Management LLC increased its stake in Blackstone by 13,816.5% in the 4th quarter. International Assets Investment Management LLC now owns 3,623,868 shares of the asset manager’s stock worth $4,744,370,000 after purchasing an additional 3,597,828 shares in the last quarter. 70.00% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BX has been the topic of a number of analyst reports. Argus lifted their price target on Blackstone from $133.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. TheStreet lowered Blackstone from a “b” rating to a “c+” rating in a research report on Thursday, January 25th. JPMorgan Chase & Co. decreased their price objective on Blackstone from $105.00 to $100.00 and set a “neutral” rating for the company in a research report on Friday, April 19th. Keefe, Bruyette & Woods raised their price objective on Blackstone from $123.00 to $127.00 and gave the stock a “market perform” rating in a research report on Friday, January 26th. Finally, UBS Group lifted their price target on Blackstone from $135.00 to $138.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Thirteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $123.65.

Read Our Latest Report on BX

Blackstone Stock Performance

Shares of BX traded down $1.24 on Monday, reaching $122.80. 802,482 shares of the stock traded hands, compared to its average volume of 3,654,791. The firm has a market cap of $87.76 billion, a price-to-earnings ratio of 43.83, a P/E/G ratio of 1.03 and a beta of 1.52. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.79 and a quick ratio of 0.79. Blackstone Inc. has a 12 month low of $80.28 and a 12 month high of $133.56. The stock’s 50-day moving average price is $124.65 and its 200-day moving average price is $119.86.

Blackstone (NYSE:BXGet Free Report) last announced its quarterly earnings results on Thursday, April 18th. The asset manager reported $0.98 EPS for the quarter, meeting the consensus estimate of $0.98. The business had revenue of $3.69 billion for the quarter, compared to analyst estimates of $2.56 billion. Blackstone had a return on equity of 17.33% and a net margin of 20.84%. Blackstone’s quarterly revenue was up 166.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.97 EPS. Equities analysts forecast that Blackstone Inc. will post 4.77 EPS for the current fiscal year.

Blackstone Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 6th. Shareholders of record on Monday, April 29th were paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date was Friday, April 26th. Blackstone’s dividend payout ratio is currently 117.31%.

Insiders Place Their Bets

In other news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the company’s stock in a transaction on Sunday, March 3rd. The stock was sold at an average price of $11.10, for a total transaction of $27,853,407.60. Following the transaction, the insider now owns 12,802 shares of the company’s stock, valued at $142,102.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the company’s stock in a transaction on Sunday, March 3rd. The stock was sold at an average price of $11.10, for a total transaction of $27,853,407.60. Following the transaction, the insider now owns 12,802 shares of the company’s stock, valued at $142,102.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Reginald J. Brown purchased 2,400 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were purchased at an average cost of $125.62 per share, for a total transaction of $301,488.00. Following the purchase, the director now directly owns 16,949 shares of the company’s stock, valued at $2,129,133.38. The disclosure for this purchase can be found here. Insiders own 1.00% of the company’s stock.

Blackstone Company 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.

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Institutional Ownership by Quarter for Blackstone (NYSE:BX)

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