Blackstone Inc. (NYSE:BX) Shares Purchased by Korea Investment CORP

Korea Investment CORP increased its position in shares of Blackstone Inc. (NYSE:BX - Free Report) by 40.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 391,893 shares of the asset manager's stock after buying an additional 112,900 shares during the period. Korea Investment CORP owned about 0.05% of Blackstone worth $67,570,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Blackstone by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 66,894,632 shares of the asset manager's stock worth $11,533,972,000 after purchasing an additional 889,286 shares in the last quarter. State Street Corp raised its position in shares of Blackstone by 1.2% during the 3rd quarter. State Street Corp now owns 30,020,426 shares of the asset manager's stock worth $4,597,028,000 after acquiring an additional 348,751 shares in the last quarter. Geode Capital Management LLC lifted its stake in Blackstone by 2.3% during the third quarter. Geode Capital Management LLC now owns 14,896,413 shares of the asset manager's stock worth $2,272,227,000 after purchasing an additional 336,308 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Blackstone by 2.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,045,143 shares of the asset manager's stock worth $697,464,000 after purchasing an additional 113,732 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Blackstone by 3.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,430,909 shares of the asset manager's stock valued at $525,375,000 after buying an additional 116,367 shares in the last quarter. Hedge funds and other institutional investors own 70.00% of the company's stock.

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Blackstone Price Performance

Shares of NYSE:BX traded up $2.99 during midday trading on Tuesday, hitting $142.77. 4,037,953 shares of the stock were exchanged, compared to its average volume of 3,453,548. The stock has a market cap of $104.14 billion, a P/E ratio of 39.33, a PEG ratio of 1.07 and a beta of 1.55. Blackstone Inc. has a twelve month low of $115.82 and a twelve month high of $200.96. The company has a 50 day moving average price of $159.28 and a 200-day moving average price of $167.61. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61.

Blackstone (NYSE:BX - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The asset manager reported $1.69 EPS for the quarter, beating the consensus estimate of $1.50 by $0.19. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. On average, research analysts forecast that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 10th were paid a dividend of $1.44 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.76 dividend on an annualized basis and a dividend yield of 4.03%. This is a positive change from Blackstone's previous quarterly dividend of $0.86. Blackstone's dividend payout ratio (DPR) is presently 158.68%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Piper Sandler upped their price objective on shares of Blackstone from $168.00 to $179.00 and gave the company a "neutral" rating in a research note on Monday, December 23rd. Barclays reiterated an "equal weight" rating on shares of Blackstone in a research note on Friday, February 7th. JPMorgan Chase & Co. upped their price target on shares of Blackstone from $149.00 to $154.00 and gave the company a "neutral" rating in a research report on Friday, January 31st. StockNews.com lowered Blackstone from a "buy" rating to a "hold" rating in a report on Friday, January 31st. Finally, TD Cowen raised Blackstone from a "hold" rating to a "buy" rating and boosted their target price for the company from $149.00 to $230.00 in a report on Monday, December 9th. Twelve research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $171.13.

Insider Buying and Selling at Blackstone

In other Blackstone news, Director Ruth Porat acquired 301 shares of the firm's stock in a transaction dated Tuesday, February 18th. The shares were acquired at an average price of $164.85 per share, for a total transaction of $49,619.85. Following the completion of the acquisition, the director now directly owns 36,829 shares of the company's stock, valued at $6,071,260.65. This trade represents a 0.82 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.00% of the stock is owned by insiders.

About Blackstone

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.