MetLife Investment Management LLC Has $38.43 Million Position in Blackstone Inc. (NYSE:BX)

MetLife Investment Management LLC grew its stake in shares of Blackstone Inc. (NYSE:BX - Free Report) by 1.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 222,907 shares of the asset manager's stock after acquiring an additional 3,779 shares during the period. MetLife Investment Management LLC's holdings in Blackstone were worth $38,434,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Norinchukin Bank The increased its holdings in Blackstone by 9.8% during the 4th quarter. Norinchukin Bank The now owns 32,672 shares of the asset manager's stock valued at $5,633,000 after acquiring an additional 2,913 shares in the last quarter. Ossiam boosted its stake in shares of Blackstone by 75.1% during the fourth quarter. Ossiam now owns 30,571 shares of the asset manager's stock valued at $5,271,000 after acquiring an additional 13,109 shares during the last quarter. Capital International Inc. CA lifted its holdings in Blackstone by 7.6% in the 4th quarter. Capital International Inc. CA now owns 238,967 shares of the asset manager's stock valued at $41,203,000 after purchasing an additional 16,934 shares in the last quarter. Capital Research Global Investors purchased a new position in shares of Blackstone during the 4th quarter worth $239,837,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of Blackstone by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,255,479 shares of the asset manager's stock valued at $216,472,000 after buying an additional 4,513 shares during the period. 70.00% of the stock is owned by hedge funds and other institutional investors.

Blackstone Stock Up 1.7 %

NYSE BX traded up $2.14 during trading on Wednesday, reaching $127.05. 5,617,319 shares of the company's stock were exchanged, compared to its average volume of 3,738,349. The company's fifty day simple moving average is $143.60 and its 200-day simple moving average is $164.45. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $92.67 billion, a PE ratio of 35.00, a P/E/G ratio of 1.07 and a beta of 1.61. Blackstone Inc. has a fifty-two week low of $115.66 and a fifty-two week high of $200.96.

Blackstone (NYSE:BX - Get Free Report) last issued its earnings results on Thursday, April 17th. The asset manager reported $1.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.22 by ($0.13). Blackstone had a net margin of 20.99% and a return on equity of 19.58%. The company had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same period last year, the business earned $0.98 EPS. Sell-side analysts predict that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Monday, April 28th will be given a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend is Monday, April 28th. Blackstone's payout ratio is presently 112.05%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on BX shares. Cowen reissued a "buy" rating on shares of Blackstone in a research report on Monday. Bank of America lowered their price objective on shares of Blackstone from $219.00 to $207.00 and set a "buy" rating for the company in a research report on Friday, April 4th. Citizens Jmp upgraded Blackstone from a "market perform" rating to an "outperform" rating and set a $165.00 target price for the company in a research note on Tuesday, April 8th. JMP Securities raised shares of Blackstone from a "market perform" rating to a "market outperform" rating and set a $165.00 price target for the company in a research report on Tuesday, April 8th. Finally, Wells Fargo & Company reduced their price objective on Blackstone from $160.00 to $139.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. Ten analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $153.72.

Insiders Place Their Bets

In other news, Director Ruth Porat bought 301 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The shares were purchased at an average price of $164.85 per share, for a total transaction of $49,619.85. Following the acquisition, the director now directly owns 36,829 shares of the company's stock, valued at $6,071,260.65. The trade was a 0.82 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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.