Norinchukin Bank The Boosts Stock Holdings in Blackstone Inc. (NYSE:BX)

Norinchukin Bank The lifted its holdings in shares of Blackstone Inc. (NYSE:BX - Free Report) by 9.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 32,672 shares of the asset manager's stock after acquiring an additional 2,913 shares during the quarter. Norinchukin Bank The's holdings in Blackstone were worth $5,633,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Wealthcare Capital Partners LLC bought a new stake in Blackstone in the 4th quarter valued at about $2,102,000. Highland Capital Management LLC lifted its position in shares of Blackstone by 214.2% during the fourth quarter. Highland Capital Management LLC now owns 22,303 shares of the asset manager's stock worth $3,845,000 after acquiring an additional 15,205 shares in the last quarter. Nordea Investment Management AB increased its position in shares of Blackstone by 8.8% during the fourth quarter. Nordea Investment Management AB now owns 58,229 shares of the asset manager's stock valued at $10,053,000 after buying an additional 4,688 shares during the period. Vanguard Group Inc. grew its stake in Blackstone by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 66,894,632 shares of the asset manager's stock valued at $11,533,972,000 after acquiring an additional 889,286 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Blackstone by 6.1% in the 3rd quarter. Principal Financial Group Inc. now owns 909,698 shares of the asset manager's stock valued at $139,302,000 after purchasing an additional 51,897 shares during the period. Institutional investors own 70.00% of the company's stock.

Blackstone Trading Up 6.0 %

Shares of BX traded up $7.63 during mid-day trading on Thursday, hitting $134.63. 6,576,256 shares of the company's stock traded hands, compared to its average volume of 3,749,660. The firm has a market capitalization of $98.20 billion, a P/E ratio of 37.09, a PEG ratio of 1.07 and a beta of 1.61. The business's 50-day moving average price is $142.84 and its 200-day moving average price is $164.19. Blackstone Inc. has a 1 year low of $115.66 and a 1 year high of $200.96. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61.

Blackstone (NYSE:BX - Get Free Report) last announced its earnings results on Thursday, April 17th. The asset manager reported $1.09 earnings per share 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 the consensus estimate of $2.95 billion. During the same period in the previous year, the firm posted $0.98 EPS. As a group, sell-side analysts forecast that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Monday, April 28th will be paid a $0.93 dividend. The ex-dividend date of this dividend is Monday, April 28th. This represents a $3.72 annualized dividend and a yield of 2.76%. Blackstone's payout ratio is 112.05%.

Analysts Set New Price Targets

BX has been the subject of several recent analyst reports. TD Cowen reduced their target price on Blackstone from $233.00 to $147.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. StockNews.com cut shares of Blackstone from a "buy" rating to a "hold" rating in a research report on Friday, January 31st. Wells Fargo & Company cut their price target on shares of Blackstone from $160.00 to $139.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. Bank of America dropped their price objective on shares of Blackstone from $219.00 to $207.00 and set a "buy" rating for the company in a report on Friday, April 4th. Finally, Piper Sandler lowered their price target on Blackstone from $182.00 to $140.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Ten investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $153.72.

Insider Buying and Selling at Blackstone

In other Blackstone news, Director Ruth Porat bought 301 shares of the stock in a transaction dated Tuesday, February 18th. The stock was purchased at an average cost of $164.85 per share, for a total transaction of $49,619.85. Following the completion of the acquisition, the director now owns 36,829 shares of the company's stock, valued at approximately $6,071,260.65. This trade represents a 0.82 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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.