Flossbach Von Storch SE Sells 10,000 Shares of Blackstone Inc. (NYSE:BX)

Flossbach Von Storch SE cut its stake in shares of Blackstone Inc. (NYSE:BX) by 18.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,000 shares of the asset manager’s stock after selling 10,000 shares during the period. Flossbach Von Storch SE’s holdings in Blackstone were worth $7,759,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. International Assets Investment Management LLC boosted its stake in Blackstone by 15,357.3% in the 3rd quarter. International Assets Investment Management LLC now owns 4,201,150 shares of the asset manager’s stock worth $6,433,220,000 after purchasing an additional 4,173,971 shares during the period. Jennison Associates LLC boosted its stake in Blackstone by 111.1% in the 4th quarter. Jennison Associates LLC now owns 973,348 shares of the asset manager’s stock worth $167,825,000 after purchasing an additional 512,165 shares during the period. Castleark Management LLC bought a new position in Blackstone in the 3rd quarter worth about $67,472,000. State Street Corp boosted its stake in 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. Finally, Geode Capital Management LLC boosted its stake in Blackstone by 2.3% in the 3rd 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 period. 70.00% of the stock is owned by hedge funds and other institutional investors.

Blackstone Stock Up 0.0 %

Blackstone stock opened at $166.81 on Thursday. 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 fifty day moving average of $174.71 and a 200 day moving average of $165.04. The stock has a market cap of $120.44 billion, a PE ratio of 45.95, a price-to-earnings-growth ratio of 1.07 and a beta of 1.53. Blackstone Inc. has a one year low of $115.82 and a one year high of $200.96.

Blackstone (NYSE:BX) last announced its quarterly earnings data 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%. As a group, sell-side analysts predict that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were paid a $1.44 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.76 annualized dividend and a yield of 3.45%. This is a boost from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s payout ratio is presently 158.68%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Barclays dropped their price target on Blackstone from $192.00 to $186.00 and set an “equal weight” rating for the company in a research report on Friday, January 31st. TD Cowen upgraded Blackstone from a “hold” rating to a “buy” rating and boosted their target price for the stock from $149.00 to $230.00 in a research report on Monday, December 9th. JPMorgan Chase & Co. boosted their target price on Blackstone from $149.00 to $154.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. BMO Capital Markets boosted their target price on Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a research report on Thursday, December 19th. Finally, Keefe, Bruyette & Woods lifted their price target on Blackstone from $174.00 to $177.00 and gave the stock a “market perform” rating in a research note on Friday, January 31st. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Blackstone currently has a consensus rating of “Hold” and a consensus target price of $172.38.

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.