Mirae Asset Global Investments Co. Ltd. Has $20.64 Million Holdings in Blackstone Inc. $BX

Mirae Asset Global Investments Co. Ltd. raised its stake in Blackstone Inc. (NYSE:BXFree Report) by 14.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 120,829 shares of the asset manager’s stock after acquiring an additional 15,297 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Blackstone were worth $20,644,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Valeo Financial Advisors LLC increased its position in shares of Blackstone by 4.6% during the 3rd quarter. Valeo Financial Advisors LLC now owns 13,901 shares of the asset manager’s stock worth $2,375,000 after purchasing an additional 615 shares in the last quarter. Truist Financial Corp increased its holdings in shares of Blackstone by 9.6% during the third quarter. Truist Financial Corp now owns 229,134 shares of the asset manager’s stock worth $39,147,000 after buying an additional 20,112 shares in the last quarter. EPG Wealth Management LLC boosted its holdings in shares of Blackstone by 6.9% in the 3rd quarter. EPG Wealth Management LLC now owns 7,607 shares of the asset manager’s stock worth $1,300,000 after acquiring an additional 490 shares in the last quarter. Pines Wealth Management LLC increased its holdings in Blackstone by 3.4% during the 3rd quarter. Pines Wealth Management LLC now owns 2,582 shares of the asset manager’s stock valued at $441,000 after purchasing an additional 86 shares in the last quarter. Finally, Stablepoint Partners LLC raised its position in Blackstone by 2.0% in the 3rd quarter. Stablepoint Partners LLC now owns 35,972 shares of the asset manager’s stock valued at $6,146,000 after purchasing an additional 707 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Stock Performance

Shares of Blackstone stock opened at $142.86 on Friday. Blackstone Inc. has a 52 week low of $115.66 and a 52 week high of $190.09. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 0.75. The stock has a market capitalization of $105.49 billion, a price-to-earnings ratio of 40.82, a PEG ratio of 1.03 and a beta of 1.75. The firm has a fifty day moving average of $153.03 and a two-hundred day moving average of $160.96.

Blackstone (NYSE:BXGet Free Report) last released its quarterly earnings data on Thursday, January 29th. The asset manager reported $1.75 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.21. The business had revenue of $4.36 billion during the quarter, compared to the consensus estimate of $3.69 billion. Blackstone had a return on equity of 22.30% and a net margin of 20.56%.The firm’s revenue was up 41.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.69 earnings per share. As a group, equities research 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 will be paid on Tuesday, February 17th. Shareholders of record on Monday, February 9th will be paid a $1.49 dividend. The ex-dividend date of this dividend is Monday, February 9th. This is an increase from Blackstone’s previous quarterly dividend of $1.29. This represents a $5.96 dividend on an annualized basis and a yield of 4.2%. Blackstone’s payout ratio is presently 147.43%.

Blackstone News Roundup

Here are the key news stories impacting Blackstone this week:

Insider Activity at Blackstone

In other Blackstone news, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of the company’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $10.00, for a total transaction of $15,961,420.00. Following the completion of the transaction, the insider owned 2,161 shares of the company’s stock, valued at $21,610. This represents a 99.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ruth Porat bought 324 shares of Blackstone stock in a transaction that occurred on Monday, November 10th. The shares were acquired at an average price of $146.92 per share, with a total value of $47,602.08. Following the acquisition, the director directly owned 39,077 shares of the company’s stock, valued at $5,741,192.84. The trade was a 0.84% increase in their position. The SEC filing for this purchase provides additional information. Insiders purchased 783,978 shares of company stock worth $22,058,454 over the last three months. 1.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. UBS Group lowered their target price on Blackstone from $175.00 to $172.00 and set a “neutral” rating for the company in a research note on Tuesday, January 13th. Jefferies Financial Group dropped their target price on shares of Blackstone from $187.00 to $185.00 and set a “buy” rating for the company in a research note on Thursday, January 8th. The Goldman Sachs Group increased their price target on shares of Blackstone from $173.00 to $174.00 and gave the company a “neutral” rating in a research note on Friday, October 24th. Evercore ISI reduced their price objective on Blackstone from $197.00 to $180.00 and set an “outperform” rating on the stock in a report on Wednesday, October 22nd. Finally, JPMorgan Chase & Co. lowered their target price on Blackstone from $177.00 to $176.00 and set a “neutral” rating for the company in a research note on Friday, October 24th. Nine equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $177.05.

Read Our Latest Report on BX

Blackstone 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.

Featured Articles

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)

Receive News & Ratings for Blackstone Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Blackstone and related companies with MarketBeat.com's FREE daily email newsletter.