Blackstone Inc. (NYSE:BX) Shares Bought by Vinva Investment Management Ltd

Vinva Investment Management Ltd grew its holdings in Blackstone Inc. (NYSE:BX) by 11.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 29,783 shares of the asset manager’s stock after buying an additional 2,992 shares during the period. Vinva Investment Management Ltd’s holdings in Blackstone were worth $4,615,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Financial Counselors Inc. boosted its holdings in Blackstone by 14.5% during the 3rd quarter. Financial Counselors Inc. now owns 8,546 shares of the asset manager’s stock valued at $1,309,000 after acquiring an additional 1,085 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Blackstone by 3.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,430,909 shares of the asset manager’s stock valued at $525,375,000 after purchasing an additional 116,367 shares in the last quarter. Public Sector Pension Investment Board raised its position in shares of Blackstone by 3.8% during the 3rd quarter. Public Sector Pension Investment Board now owns 125,721 shares of the asset manager’s stock worth $19,252,000 after acquiring an additional 4,587 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Blackstone by 1.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 138,934 shares of the asset manager’s stock worth $21,275,000 after acquiring an additional 2,331 shares in the last quarter. Finally, FORA Capital LLC raised its position in shares of Blackstone by 46.1% during the 3rd quarter. FORA Capital LLC now owns 35,799 shares of the asset manager’s stock worth $5,482,000 after acquiring an additional 11,289 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Wall Street Analyst Weigh In

BX has been the topic of several research analyst reports. Morgan Stanley lifted their price target on Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Citigroup lifted their price target on Blackstone from $157.00 to $170.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Cowen reiterated a “hold” rating on shares of Blackstone in a research note on Friday, October 18th. JPMorgan Chase & Co. lifted their target price on Blackstone from $125.00 to $146.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Finally, Barclays lifted their target price on Blackstone from $155.00 to $174.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Thirteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Blackstone has an average rating of “Hold” and an average price target of $157.63.

Insider Buying and Selling

In other news, insider John G. Finley sold 42,249 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $175.94, for a total value of $7,433,289.06. Following the completion of the transaction, the insider now directly owns 387,137 shares of the company’s stock, valued at $68,112,883.78. The trade was a 9.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Joseph Baratta sold 116,448 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total value of $17,561,522.88. Following the completion of the transaction, the director now owns 799,749 shares of the company’s stock, valued at $120,610,146.69. The trade was a 12.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.

Blackstone Stock Down 1.4 %

Blackstone stock opened at $189.02 on Friday. The stock’s 50 day moving average price is $168.63 and its 200 day moving average price is $144.38. The company has a market cap of $136.47 billion, a PE ratio of 64.96, a price-to-earnings-growth ratio of 1.64 and a beta of 1.49. Blackstone Inc. has a 1-year low of $106.00 and a 1-year high of $200.96. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71.

Blackstone (NYSE:BX) last issued its quarterly earnings data 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 firm 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, sell-side analysts predict that Blackstone Inc. will post 4.4 EPS for the current fiscal year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Monday, October 28th were issued a dividend of $0.86 per share. The ex-dividend date was Monday, October 28th. This is a boost from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 annualized dividend and a yield of 1.82%. Blackstone’s payout ratio is currently 118.21%.

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.