Vinva Investment Management Ltd Sells 12,836 Shares of Blackstone Inc. (NYSE:BX)

Vinva Investment Management Ltd decreased its position in Blackstone Inc. (NYSE:BX - Free Report) by 43.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,947 shares of the asset manager's stock after selling 12,836 shares during the quarter. Vinva Investment Management Ltd's holdings in Blackstone were worth $2,916,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of BX. Bestgate Wealth Advisors LLC bought a new stake in shares of Blackstone in the 4th quarter worth approximately $335,000. Stokes Family Office LLC acquired a new stake in shares of Blackstone during the 4th quarter valued at $598,000. Compass Ion Advisors LLC boosted its stake in shares of Blackstone by 0.5% during the 4th quarter. Compass Ion Advisors LLC now owns 25,900 shares of the asset manager's stock worth $4,466,000 after acquiring an additional 133 shares in the last quarter. Xponance Inc. raised its position in shares of Blackstone by 3.9% during the fourth quarter. Xponance Inc. now owns 166,554 shares of the asset manager's stock worth $28,717,000 after purchasing an additional 6,249 shares during the period. Finally, Intech Investment Management LLC boosted its position in shares of Blackstone by 60.2% in the 4th quarter. Intech Investment Management LLC now owns 6,599 shares of the asset manager's stock valued at $1,138,000 after purchasing an additional 2,480 shares during the period. 70.00% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Blackstone

In other news, Director Ruth Porat purchased 301 shares of the business's stock in a transaction on Tuesday, February 18th. The stock was purchased at an average price of $164.85 per share, with a total value of $49,619.85. Following the acquisition, the director now directly owns 36,829 shares in the company, valued at approximately $6,071,260.65. The trade was a 0.82 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.00% of the company's stock.

Remove Ads

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Wells Fargo & Company decreased their target price on shares of Blackstone from $180.00 to $160.00 and set an "equal weight" rating for the company in a report on Thursday. Piper Sandler boosted their target price 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. UBS Group raised Blackstone from a "neutral" rating to a "buy" rating and set a $180.00 target price for the company in a research report on Monday, March 17th. StockNews.com downgraded Blackstone from a "buy" rating to a "hold" rating in a research note on Friday, January 31st. Finally, TD Cowen upgraded Blackstone from a "hold" rating to a "buy" rating and upped their target price for the company from $149.00 to $230.00 in a report on Monday, December 9th. Twelve investment 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, Blackstone has an average rating of "Hold" and an average target price of $171.13.

Blackstone Stock Up 2.6 %

Shares of NYSE BX traded up $3.84 during mid-day trading on Monday, reaching $152.13. 3,072,027 shares of the company traded hands, compared to its average volume of 3,279,261. The company's fifty day moving average is $163.53 and its two-hundred day moving average is $167.49. Blackstone Inc. has a fifty-two week low of $115.82 and a fifty-two week high of $200.96. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67. The stock has a market cap of $110.97 billion, a PE ratio of 41.91, a price-to-earnings-growth ratio of 1.07 and a beta of 1.55.

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

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th were given a $1.44 dividend. This represents a $5.76 annualized dividend and a dividend yield of 3.79%. This is a boost from Blackstone's previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Monday, February 10th. Blackstone's dividend payout ratio is currently 158.68%.

Blackstone 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.