Citizens Financial Group Inc. RI lifted its stake in shares of Blackstone Inc. (NYSE:BX - Free Report) by 22.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,238 shares of the asset manager's stock after purchasing an additional 3,126 shares during the quarter. Citizens Financial Group Inc. RI's holdings in Blackstone were worth $2,640,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of BX. Wulff Hansen & CO. raised its position in Blackstone by 12,192.7% in the second quarter. Wulff Hansen & CO. now owns 7,340,845 shares of the asset manager's stock worth $908,797,000 after acquiring an additional 7,281,128 shares in the last quarter. Legal & General Group Plc raised its position in Blackstone by 2.3% in the second quarter. Legal & General Group Plc now owns 6,266,207 shares of the asset manager's stock worth $775,758,000 after acquiring an additional 141,616 shares in the last quarter. Janus Henderson Group PLC grew its holdings in Blackstone by 0.5% in the first quarter. Janus Henderson Group PLC now owns 4,670,645 shares of the asset manager's stock valued at $613,581,000 after purchasing an additional 21,450 shares during the last quarter. International Assets Investment Management LLC grew its holdings in Blackstone by 15,357.3% in the third quarter. International Assets Investment Management LLC now owns 4,201,150 shares of the asset manager's stock valued at $6,433,220,000 after purchasing an additional 4,173,971 shares during the last quarter. Finally, Lazard Asset Management LLC grew its holdings in Blackstone by 19,048.1% in the first quarter. Lazard Asset Management LLC now owns 1,883,409 shares of the asset manager's stock valued at $247,423,000 after purchasing an additional 1,873,573 shares during the last quarter. Hedge funds and other institutional investors own 70.00% of the company's stock.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on BX. BMO Capital Markets upped their target price on Blackstone from $112.00 to $134.00 and gave the company a "market perform" rating in a report on Friday, October 18th. Bank of America upped their target price on Blackstone from $171.00 to $192.00 and gave the company a "buy" rating in a report on Friday, October 18th. JPMorgan Chase & Co. increased 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. Piper Sandler lowered Blackstone from an "overweight" rating to a "neutral" rating and set a $149.00 price objective on the stock. in a research note on Wednesday, October 9th. Finally, The Goldman Sachs Group increased their price objective on Blackstone from $135.00 to $150.00 and gave the company a "neutral" rating in a research note on Friday, October 18th. Thirteen analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $157.63.
Check Out Our Latest Analysis on BX
Blackstone Trading Up 2.6 %
Shares of Blackstone stock traded up $5.04 during trading hours on Friday, reaching $199.05. The stock had a trading volume of 4,500,064 shares, compared to its average volume of 3,414,414. The firm has a 50 day simple moving average of $164.90 and a two-hundred day simple moving average of $141.94. The firm has a market capitalization of $143.71 billion, a price-to-earnings ratio of 66.74, a P/E/G ratio of 1.57 and a beta of 1.49. 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 1 year low of $105.51 and a 1 year high of $199.95.
Blackstone (NYSE:BX - Get Free Report) last announced its earnings results on Thursday, October 17th. The asset manager reported $1.01 EPS for the quarter, beating the consensus estimate of $0.91 by $0.10. The business had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.37 billion. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. As a group, equities research analysts anticipate that Blackstone Inc. will post 4.4 earnings per share for the current year.
Blackstone Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Monday, October 28th were issued a dividend of $0.86 per share. This is an increase from Blackstone's previous quarterly dividend of $0.82. This represents a $3.44 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend was Monday, October 28th. Blackstone's dividend payout ratio (DPR) is presently 118.21%.
Insider Buying and Selling at Blackstone
In other Blackstone news, insider John G. Finley sold 42,249 shares of the firm's stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $175.94, for a total transaction 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 trade represents a 9.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $150.81, for a total value of $17,561,522.88. Following the completion of the transaction, the director now owns 799,749 shares of the company's stock, valued at approximately $120,610,146.69. The trade was a 12.71 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.
About Blackstone
(
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.
Further Reading
Before you consider Blackstone, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Blackstone wasn't on the list.
While Blackstone currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Click the link to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
