Marion Wealth Management lessened its stake in Blackstone Inc. (NYSE:BX – Free Report) by 1.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,933 shares of the asset manager’s stock after selling 278 shares during the quarter. Marion Wealth Management’s holdings in Blackstone were worth $3,092,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the stock. State Street Corp boosted its holdings in shares of Blackstone by 1.2% in the 3rd quarter. State Street Corp now owns 30,020,426 shares of the asset manager’s stock worth $4,597,028,000 after purchasing an additional 348,751 shares during the period. Geode Capital Management LLC raised its stake in shares of Blackstone by 2.3% in the third quarter. Geode Capital Management LLC now owns 14,896,413 shares of the asset manager’s stock valued at $2,272,227,000 after acquiring an additional 336,308 shares during the period. Wulff Hansen & CO. grew its holdings 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 valued at $908,797,000 after purchasing an additional 7,281,128 shares during the last quarter. Legal & General Group Plc lifted 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 worth $775,758,000 after purchasing an additional 141,616 shares during the last quarter. Finally, International Assets Investment Management LLC raised its holdings in shares of Blackstone by 15,357.3% in the third quarter. International Assets Investment Management LLC now owns 4,201,150 shares of the asset manager’s stock worth $6,433,220,000 after buying an additional 4,173,971 shares during the period. 70.00% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, insider John G. Finley sold 42,249 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $175.94, for a total value of $7,433,289.06. Following the sale, the insider now owns 387,137 shares of the company’s stock, valued at $68,112,883.78. This trade represents a 9.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.00% of the stock is owned by corporate insiders.
Blackstone Price Performance
Blackstone (NYSE:BX – Get Free Report) last posted its earnings results on Thursday, October 17th. The asset manager reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.10. The company had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.37 billion. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. On average, equities analysts anticipate that Blackstone Inc. will post 4.43 earnings per share for the current year.
Blackstone Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Monday, October 28th were paid a $0.86 dividend. The ex-dividend date of this dividend was Monday, October 28th. This is a boost from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.08%. Blackstone’s payout ratio is presently 118.21%.
Analyst Upgrades and Downgrades
A number of equities analysts have recently commented on the stock. Cowen reaffirmed a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. Deutsche Bank Aktiengesellschaft upped their target price on Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Wells Fargo & Company downgraded Blackstone from an “overweight” rating to an “equal weight” rating and raised their price objective for the company from $188.00 to $195.00 in a research report on Thursday, December 12th. JPMorgan Chase & Co. increased their price target on shares of Blackstone from $125.00 to $146.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Finally, StockNews.com upgraded shares of Blackstone from a “hold” rating to a “buy” rating in a research note on Thursday. Twelve investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $170.50.
View Our Latest Analysis on BX
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.
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