Wellington Management Group LLP Has $37.82 Million Stake in Blackstone Inc. (NYSE:BX)

Wellington Management Group LLP grew its stake in Blackstone Inc. (NYSE:BX - Free Report) by 29.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 246,998 shares of the asset manager's stock after buying an additional 56,559 shares during the period. Wellington Management Group LLP's holdings in Blackstone were worth $37,823,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Weaver Consulting Group acquired a new position in shares of Blackstone during the 3rd quarter worth about $205,000. Wills Financial Group Inc. increased its stake in Blackstone by 17.4% during the third quarter. Wills Financial Group Inc. now owns 2,866 shares of the asset manager's stock valued at $439,000 after acquiring an additional 424 shares during the period. State Street Corp increased its stake in Blackstone by 1.2% during the third quarter. State Street Corp now owns 30,020,426 shares of the asset manager's stock valued at $4,597,028,000 after acquiring an additional 348,751 shares during the period. Quantinno Capital Management LP increased its stake in Blackstone by 32.8% during the third quarter. Quantinno Capital Management LP now owns 51,063 shares of the asset manager's stock valued at $7,819,000 after acquiring an additional 12,626 shares during the period. Finally, Royal London Asset Management Ltd. increased its stake in Blackstone by 29.5% during the third quarter. Royal London Asset Management Ltd. now owns 386,523 shares of the asset manager's stock valued at $59,188,000 after acquiring an additional 88,018 shares during the period. Institutional investors and hedge funds own 70.00% of the company's stock.

Analyst Ratings Changes

BX has been the topic of several research reports. Wells Fargo & Company lowered Blackstone from an "overweight" rating to an "equal weight" rating and boosted their price target for the company from $188.00 to $195.00 in a research note on Thursday. JPMorgan Chase & Co. upped their price objective on Blackstone from $125.00 to $146.00 and gave the company a "neutral" rating in a research note on Friday, October 18th. Deutsche Bank Aktiengesellschaft upped their price objective on Blackstone from $172.00 to $182.00 and gave the company a "buy" rating in a research note on Monday, November 11th. BMO Capital Markets upped their price objective on Blackstone from $112.00 to $134.00 and gave the company a "market perform" rating in a research note on Friday, October 18th. Finally, UBS Group increased their price target on Blackstone from $140.00 to $160.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 16th. Thirteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $164.69.

Blackstone Stock Down 0.6 %

Shares of NYSE BX traded down $1.14 during mid-day trading on Friday, hitting $189.16. The company had a trading volume of 1,239,330 shares, compared to its average volume of 3,386,731. The company has a market capitalization of $136.57 billion, a PE ratio of 65.39, a price-to-earnings-growth ratio of 1.63 and a beta of 1.51. The firm has a 50-day simple moving average of $175.41 and a two-hundred day simple moving average of $148.70. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. Blackstone Inc. has a one year low of $114.88 and a one year high of $200.96.

Blackstone (NYSE:BX - Get Free Report) last issued its earnings results on Thursday, October 17th. The asset manager reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.10. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. The business had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.37 billion. On average, equities analysts expect that Blackstone Inc. will post 4.43 EPS for the current year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Monday, October 28th were given a dividend of $0.86 per share. The ex-dividend date was Monday, October 28th. This is an increase from Blackstone's previous quarterly dividend of $0.82. This represents a $3.44 annualized dividend and a yield of 1.82%. Blackstone's dividend payout ratio (DPR) is 118.21%.

Insiders Place Their Bets

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

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.