USS Investment Management Ltd Has $14.24 Million Stock Position in Blackstone Inc. $BX

USS Investment Management Ltd boosted its holdings in shares of Blackstone Inc. (NYSE:BX) by 5.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 123,861 shares of the asset manager’s stock after buying an additional 6,039 shares during the quarter. USS Investment Management Ltd’s holdings in Blackstone were worth $14,242,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in BX. Family CFO Inc bought a new stake in Blackstone in the 4th quarter valued at $28,000. Ares Financial Consulting LLC acquired a new position in shares of Blackstone in the fourth quarter valued at $28,000. Richardson Financial Services Inc. acquired a new stake in shares of Blackstone during the 4th quarter worth about $29,000. Strive Asset Management LLC bought a new stake in shares of Blackstone during the 3rd quarter worth about $30,000. Finally, Palladiem LLC bought a new position in Blackstone in the 4th quarter valued at about $31,000. 70.00% of the stock is currently owned by institutional investors.

Insider Activity at Blackstone

In related news, insider Vikrant Sawhney sold 30,014 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $125.79, for a total value of $3,775,461.06. Following the completion of the transaction, the insider owned 899,669 shares in the company, valued at $113,169,363.51. This trade represents a 3.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ruth Porat purchased 355 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was acquired at an average price of $123.04 per share, with a total value of $43,679.20. Following the completion of the transaction, the director owned 41,818 shares in the company, valued at approximately $5,145,286.72. This trade represents a 0.86% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders acquired 10,252,345 shares of company stock valued at $209,789,893. 1.00% of the stock is owned by company insiders.

Blackstone Price Performance

Shares of BX stock opened at $119.55 on Thursday. The business has a fifty day simple moving average of $119.94 and a 200 day simple moving average of $128.26. The company has a market cap of $88.81 billion, a P/E ratio of 30.58, a P/E/G ratio of 1.28 and a beta of 1.58. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.66. Blackstone Inc. has a twelve month low of $101.73 and a twelve month high of $190.09.

Blackstone (NYSE:BX) last issued its earnings results on Thursday, April 23rd. The asset manager reported $1.36 EPS for the quarter, topping the consensus estimate of $1.34 by $0.02. Blackstone had a return on equity of 22.86% and a net margin of 20.67%.The firm had revenue of $3.43 billion during the quarter, compared to the consensus estimate of $3.45 billion. During the same quarter in the previous year, the firm earned $1.11 earnings per share. The business’s quarterly revenue was up 10.0% on a year-over-year basis. On average, sell-side analysts forecast that Blackstone Inc. will post 5.9 EPS for the current fiscal year.

Blackstone Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 11th. Shareholders of record on Monday, May 4th were given a $1.16 dividend. The ex-dividend date was Monday, May 4th. This represents a $4.64 dividend on an annualized basis and a yield of 3.9%. Blackstone’s dividend payout ratio (DPR) is currently 118.67%.

Analyst Ratings Changes

Several research firms recently issued reports on BX. Citizens Jmp reduced their price target on Blackstone from $195.00 to $190.00 and set a “market outperform” rating for the company in a research note on Wednesday, April 22nd. Deutsche Bank Aktiengesellschaft started coverage on shares of Blackstone in a research report on Monday, June 8th. They issued a “buy” rating for the company. Jefferies Financial Group increased their price target on Blackstone from $143.00 to $152.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. BMO Capital Markets lifted their price objective on Blackstone from $126.00 to $132.00 and gave the company an “outperform” rating in a report on Monday, April 13th. Finally, Royal Bank Of Canada assumed coverage on Blackstone in a research report on Monday, June 8th. They issued an “outperform” rating on the stock. Thirteen equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat.com, Blackstone has a consensus rating of “Moderate Buy” and a consensus target price of $149.36.

About Blackstone

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.