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KBC Group NV Grows Stake in Blackstone Inc. (NYSE:BX)

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KBC Group NV increased its stake in Blackstone Inc. (NYSE:BX - Free Report) by 87.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 166,413 shares of the asset manager's stock after purchasing an additional 77,537 shares during the period. KBC Group NV's holdings in Blackstone were worth $25,482,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Capital World Investors grew its stake in shares of Blackstone by 7.5% during the first quarter. Capital World Investors now owns 36,285,872 shares of the asset manager's stock worth $4,766,875,000 after purchasing an additional 2,546,886 shares during the period. Wulff Hansen & CO. boosted its stake in Blackstone by 12,192.7% during the 2nd 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 during the last quarter. Legal & General Group Plc increased its stake 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 valued at $775,758,000 after purchasing an additional 141,616 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of Blackstone by 0.5% during the first quarter. Janus Henderson Group PLC now owns 4,670,645 shares of the asset manager's stock worth $613,581,000 after purchasing an additional 21,450 shares in the last quarter. Finally, International Assets Investment Management LLC increased its position in shares of Blackstone by 15,357.3% in the 3rd 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 buying an additional 4,173,971 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors.

Insider Activity

In other Blackstone news, insider John G. Finley sold 42,249 shares of the business'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 value of $7,433,289.06. Following the completion of the sale, the insider now owns 387,137 shares in the company, valued at approximately $68,112,883.78. The trade was a 9.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Joseph Baratta sold 116,448 shares of the company's 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 owns 799,749 shares of the company's stock, valued at approximately $120,610,146.69. This represents a 12.71 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on BX shares. Evercore ISI increased their target price on Blackstone from $148.00 to $155.00 and gave the stock an "outperform" rating in a research note on Monday, October 14th. Redburn Atlantic initiated coverage on Blackstone in a research note on Tuesday, August 27th. They issued a "neutral" rating and a $134.00 price target on the stock. Wells Fargo & Company lifted their price objective on Blackstone from $169.00 to $188.00 and gave the stock an "overweight" rating in a research note on Friday, October 18th. Piper Sandler lowered shares of 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, Bank of America lifted their price objective on Blackstone from $171.00 to $192.00 and gave the stock a "buy" rating in a research report on Friday, October 18th. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Blackstone currently has an average rating of "Hold" and an average price target of $157.63.

View Our Latest Stock Analysis on BX

Blackstone Stock Performance

Shares of NYSE BX traded up $0.20 during mid-day trading on Friday, reaching $181.41. 2,893,873 shares of the company's stock were exchanged, compared to its average volume of 3,417,253. Blackstone Inc. has a 52 week low of $102.79 and a 52 week high of $184.34. The firm has a 50-day moving average price of $161.40 and a two-hundred day moving average price of $140.02. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71. The firm has a market capitalization of $130.98 billion, a price-to-earnings ratio of 62.32, a price-to-earnings-growth ratio of 1.55 and a beta of 1.49.

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 analysts' consensus estimates of $0.91 by $0.10. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. The company had revenue of $2.43 billion for the quarter, compared to analysts' expectations of $2.37 billion. Analysts predict that Blackstone Inc. will post 4.39 EPS for the current year.

Blackstone Increases Dividend

The firm also recently announced 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. This represents a $3.44 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend was Monday, October 28th. This is a positive change from Blackstone's previous quarterly dividend of $0.82. Blackstone's dividend payout ratio (DPR) is currently 118.21%.

Blackstone 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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