Blackstone Inc. (NYSE:BX) Shares Bought by CIBC Asset Management Inc

CIBC Asset Management Inc increased its position in shares of Blackstone Inc. (NYSE:BX - Free Report) by 5.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 172,369 shares of the asset manager's stock after acquiring an additional 9,007 shares during the quarter. CIBC Asset Management Inc's holdings in Blackstone were worth $26,395,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of BX. Wulff Hansen & CO. raised its position in shares of Blackstone by 12,192.7% in the 2nd quarter. Wulff Hansen & CO. now owns 7,340,845 shares of the asset manager's stock valued at $908,797,000 after purchasing an additional 7,281,128 shares during the last quarter. International Assets Investment Management LLC lifted its stake in shares of Blackstone by 15,357.3% during the third quarter. International Assets Investment Management LLC now owns 4,201,150 shares of the asset manager's stock worth $6,433,220,000 after buying an additional 4,173,971 shares during the period. Capital World Investors increased its position in shares of Blackstone by 7.5% in the 1st quarter. Capital World Investors now owns 36,285,872 shares of the asset manager's stock valued at $4,766,875,000 after acquiring an additional 2,546,886 shares during the period. Lazard Asset Management LLC lifted its position in Blackstone by 19,048.1% during the 1st quarter. Lazard Asset Management LLC now owns 1,883,409 shares of the asset manager's stock worth $247,423,000 after acquiring an additional 1,873,573 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in Blackstone by 213.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,375,969 shares of the asset manager's stock valued at $170,345,000 after purchasing an additional 937,084 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Price Performance

BX traded up $0.20 during trading on Friday, reaching $181.41. The company's stock had a trading volume of 2,893,873 shares, compared to its average volume of 3,417,253. Blackstone Inc. has a 1 year low of $102.79 and a 1 year high of $184.34. The company has a market cap of $130.98 billion, a price-to-earnings ratio of 62.32, a PEG ratio of 1.55 and a beta of 1.49. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. The firm has a fifty day simple moving average of $161.40 and a two-hundred day simple moving average of $140.02.

Blackstone (NYSE:BX - Get Free Report) last posted its quarterly earnings results on Thursday, October 17th. The asset manager reported $1.01 EPS for the quarter, topping the consensus estimate of $0.91 by $0.10. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. The business had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.37 billion. As a group, analysts anticipate that Blackstone Inc. will post 4.39 EPS for the current year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Monday, October 28th were issued a $0.86 dividend. The ex-dividend date of this dividend was Monday, October 28th. This is a boost from Blackstone's previous quarterly dividend of $0.82. This represents a $3.44 dividend on an annualized basis and a yield of 1.90%. Blackstone's dividend payout ratio is currently 118.21%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on BX shares. Redburn Atlantic began coverage on Blackstone in a research report on Tuesday, August 27th. They issued a "neutral" rating and a $134.00 target price on the stock. UBS Group increased their price objective on shares of Blackstone from $140.00 to $160.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 16th. BMO Capital Markets upped their price target on shares of Blackstone from $112.00 to $134.00 and gave the company a "market perform" rating in a report on Friday, October 18th. Barclays lifted their price objective on Blackstone from $155.00 to $174.00 and gave the company an "equal weight" rating in a research note on Friday, October 18th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Blackstone from $172.00 to $182.00 and gave the stock a "buy" rating in a report on Monday, November 11th. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $157.63.

Insiders Place Their Bets

In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the company's stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $150.81, for a total transaction of $17,561,522.88. Following the transaction, the director now directly owns 799,749 shares in the company, valued at $120,610,146.69. This represents a 12.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John G. Finley sold 42,249 shares of the business's stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $175.94, for a total value of $7,433,289.06. Following the completion of the sale, the insider now owns 387,137 shares in the company, valued at $68,112,883.78. This represents a 9.84 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

Blackstone Company Profile

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.