B. Metzler seel. Sohn & Co. AG Raises Holdings in Blackstone Inc. $BX

B. Metzler seel. Sohn & Co. AG raised its position in shares of Blackstone Inc. (NYSE:BXFree Report) by 275.2% in the third quarter, Holdings Channel.com reports. The fund owned 108,374 shares of the asset manager’s stock after buying an additional 79,491 shares during the quarter. B. Metzler seel. Sohn & Co. AG’s holdings in Blackstone were worth $18,516,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in Blackstone during the 2nd quarter worth approximately $1,071,348,000. Vanguard Group Inc. lifted its position in Blackstone by 2.2% during the second quarter. Vanguard Group Inc. now owns 69,492,377 shares of the asset manager’s stock valued at $10,394,670,000 after buying an additional 1,494,796 shares in the last quarter. Close Asset Management Ltd increased its position in shares of Blackstone by 16,035.1% in the third quarter. Close Asset Management Ltd now owns 1,140,264 shares of the asset manager’s stock worth $194,746,000 after acquiring an additional 1,133,197 shares in the last quarter. Lazard Asset Management LLC raised its stake in shares of Blackstone by 31.9% in the 2nd quarter. Lazard Asset Management LLC now owns 3,803,344 shares of the asset manager’s stock valued at $568,902,000 after acquiring an additional 919,773 shares during the period. Finally, Canada Pension Plan Investment Board boosted its position in Blackstone by 115.4% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,088,786 shares of the asset manager’s stock worth $162,861,000 after purchasing an additional 583,384 shares during the period. 70.00% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, major shareholder Holdings Iv Gp Mana Blackstone purchased 1,146,789 shares of Blackstone stock in a transaction dated Monday, February 23rd. The shares were acquired at an average price of $26.16 per share, with a total value of $30,000,000.24. Following the completion of the transaction, the insider owned 16,716,249 shares of the company’s stock, valued at approximately $437,297,073.84. This trade represents a 7.37% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of the business’s stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $10.00, for a total value of $15,961,420.00. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.00% of the company’s stock.

Trending Headlines about Blackstone

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Blackstone Price Performance

BX stock opened at $110.20 on Friday. The stock’s 50 day moving average is $139.66 and its two-hundred day moving average is $152.56. Blackstone Inc. has a 52-week low of $105.09 and a 52-week high of $190.09. The company has a market capitalization of $81.79 billion, a PE ratio of 28.40, a P/E/G ratio of 0.95 and a beta of 1.79. The company has a quick ratio of 0.75, a current ratio of 0.76 and a debt-to-equity ratio of 0.61.

Blackstone (NYSE:BXGet Free Report) last released its earnings results on Thursday, January 29th. The asset manager reported $1.75 EPS for the quarter, beating the consensus estimate of $1.54 by $0.21. The company had revenue of $4.36 billion during the quarter, compared to analysts’ expectations of $3.69 billion. Blackstone had a return on equity of 22.17% and a net margin of 20.89%.The business’s revenue was up 41.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.69 EPS. Analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 17th. Stockholders of record on Monday, February 9th were given a $1.49 dividend. This represents a $5.96 annualized dividend and a dividend yield of 5.4%. The ex-dividend date of this dividend was Monday, February 9th. This is an increase from Blackstone’s previous quarterly dividend of $1.29. Blackstone’s payout ratio is presently 153.61%.

Wall Street Analyst Weigh In

BX has been the topic of several research reports. JPMorgan Chase & Co. cut their price objective on Blackstone from $158.00 to $122.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 3rd. Barclays lowered their target price on Blackstone from $164.00 to $126.00 and set an “equal weight” rating for the company in a research note on Monday, March 2nd. Citigroup restated a “market outperform” rating on shares of Blackstone in a report on Friday, January 30th. Jefferies Financial Group dropped their price objective on shares of Blackstone from $185.00 to $161.00 and set a “buy” rating on the stock in a research note on Tuesday, February 10th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Blackstone from $164.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday, December 17th. Eleven analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $165.86.

View Our Latest Stock Analysis on Blackstone

Blackstone Company Profile

(Free Report)

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.

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Want to see what other hedge funds are holding BX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Blackstone Inc. (NYSE:BXFree Report).

Institutional Ownership by Quarter for Blackstone (NYSE:BX)

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