5,914 Blackstone Inc. $BX Shares Acquired by International Assets Investment Management LLC

International Assets Investment Management LLC lifted its stake in shares of Blackstone Inc. (NYSE:BX) by 17.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 40,665 shares of the asset manager’s stock after acquiring an additional 5,914 shares during the period. International Assets Investment Management LLC’s holdings in Blackstone were worth $4,564,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of BX. Heritage Family Offices LLP purchased a new position in Blackstone during the third quarter worth about $152,000. Calamos Advisors LLC boosted its holdings in Blackstone by 2.3% in the 3rd quarter. Calamos Advisors LLC now owns 94,042 shares of the asset manager’s stock valued at $10,541,000 after purchasing an additional 2,070 shares during the last quarter. Alta Advisers Ltd grew its stake in shares of Blackstone by 75.4% in the 3rd quarter. Alta Advisers Ltd now owns 5,272 shares of the asset manager’s stock valued at $591,000 after buying an additional 2,266 shares during the period. Argonautica Private Wealth Management Inc. increased its holdings in shares of Blackstone by 0.5% during the 3rd quarter. Argonautica Private Wealth Management Inc. now owns 31,532 shares of the asset manager’s stock worth $3,534,000 after buying an additional 147 shares during the last quarter. Finally, Cora Capital Advisors LLC increased its holdings in shares of Blackstone by 4.7% during the 3rd quarter. Cora Capital Advisors LLC now owns 2,227 shares of the asset manager’s stock worth $250,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Stock Performance

Shares of BX stock opened at $119.66 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.72 and a current ratio of 0.71. The firm has a market cap of $89.82 billion, a P/E ratio of 26.59, a P/E/G ratio of 1.52 and a beta of 1.52. The firm’s 50 day moving average price is $120.38 and its 200-day moving average price is $123.52. Blackstone Inc. has a one year low of $101.73 and a one year high of $165.14.

Blackstone (NYSE:BX) last posted its earnings results on Thursday, October 22nd. The asset manager reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.06. The firm had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.27 billion. Blackstone had a net margin of 22.11% and a return on equity of 23.16%. The firm’s revenue for the quarter was down .8% on a year-over-year basis. During the same quarter last year, the firm earned $0.80 EPS. As a group, equities research analysts predict that Blackstone Inc. will post 5.89 EPS for the current year.

Blackstone Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 9th. Stockholders of record on Monday, November 2nd will be given a dividend of $1.12 per share. This is a decrease from Blackstone’s previous quarterly dividend of $1.29. This represents a $4.48 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Monday, November 2nd. Blackstone’s dividend payout ratio (DPR) is 99.56%.

Insiders Place Their Bets

In other news, major shareholder Bx Buzz Ml-1 Gp Llc sold 3,767,776 shares of Blackstone stock in a transaction on Monday, September 28th. The stock was sold at an average price of $2.94, for a total value of $11,077,261.44. Following the completion of the sale, the insider directly owned 16,120 shares of the company’s stock, valued at approximately $47,392.80. The trade was a 99.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Holdings I. L.P. Blackstone sold 124,600 shares of the business’s stock in a transaction on Friday, September 25th. The shares were sold at an average price of $16.40, for a total value of $2,043,440.00. The disclosure for this sale is available in the SEC filing. In the last three months, insiders acquired 464,792 shares of company stock valued at $12,205,945 and sold 4,047,276 shares valued at $33,507,144. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on BX. Wells Fargo & Company began coverage on Blackstone in a report on Friday, October 2nd. They issued an “equal weight” rating and a $122.00 price objective on the stock. Piper Sandler set a $126.00 target price on Blackstone in a research note on Friday, October 23rd. HSBC restated a “hold” rating and issued a $135.00 target price on shares of Blackstone in a research report on Monday, July 20th. Keefe, Bruyette & Woods raised Blackstone to a “hold” rating in a research note on Monday, July 20th. Finally, JPMorgan Chase & Co. cut their price objective on Blackstone from $136.00 to $135.00 and set a “neutral” rating for the company in a research report on Friday, October 23rd. Thirteen equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat.com, Blackstone currently has a consensus rating of “Moderate Buy” and a consensus target price of $144.57.

About Blackstone

Blackstone Inc is a global alternative asset manager that invests on behalf of institutional and individual investors. Its businesses span private equity, real estate, credit and insurance, infrastructure, and multi-asset investing, with strategies that include private funds and investment products for a range of clients.

Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson, the firm initially focused on mergers and acquisitions advisory work before expanding into investment management.