Alberta Investment Management Corp Makes New $6.37 Million Investment in Blackstone Inc. $BX

Alberta Investment Management Corp purchased a new stake in Blackstone Inc. (NYSE:BX - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 54,100 shares of the asset manager's stock, valued at approximately $6,366,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of Blackstone during the fourth quarter valued at about $1,275,747,000. Bank of New York Mellon Corp acquired a new stake in Blackstone during the 2nd quarter worth approximately $514,736,000. Capital Research Global Investors grew its holdings in Blackstone by 99.2% during the 4th quarter. Capital Research Global Investors now owns 6,381,767 shares of the asset manager's stock worth $983,690,000 after acquiring an additional 3,178,133 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of Blackstone during the first quarter valued at $164,597,000. Finally, Amundi grew its stake in shares of Blackstone by 85.6% in the fourth quarter. Amundi now owns 2,709,345 shares of the asset manager's stock worth $417,620,000 after purchasing an additional 1,249,269 shares during the last quarter. Institutional investors own 70.00% of the company's stock.

Blackstone Price Performance

Blackstone stock opened at $143.94 on Monday. The stock has a market capitalization of $108.04 billion, a price-to-earnings ratio of 32.20, a PEG ratio of 1.60 and a beta of 1.55. Blackstone Inc. has a 52-week low of $101.73 and a 52-week high of $190.09. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.72 and a current ratio of 0.72. The stock's 50 day moving average price is $126.51 and its two-hundred day moving average price is $122.51.

Blackstone (NYSE:BX - Get Free Report) last issued its earnings results on Thursday, July 23rd. The asset manager reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.18. The business had revenue of $5.04 billion for the quarter, compared to analyst estimates of $3.42 billion. Blackstone had a net margin of 21.84% and a return on equity of 23.77%. Blackstone's revenue was up 35.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.98 earnings per share. On average, equities analysts predict that Blackstone Inc. will post 6 earnings per share for the current year.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Monday, August 3rd were issued a $1.29 dividend. This is a boost from Blackstone's previous quarterly dividend of $1.16. This represents a $5.16 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Monday, August 3rd. Blackstone's dividend payout ratio is 115.44%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. BNP Paribas Exane lowered their target price on Blackstone from $126.00 to $125.00 and set a "neutral" rating for the company in a research report on Tuesday, June 30th. The Goldman Sachs Group increased their price target on Blackstone from $114.00 to $127.00 and gave the company a "neutral" rating in a research note on Friday, July 24th. Rothschild & Co Redburn decreased their target price on shares of Blackstone from $134.00 to $130.00 and set a "neutral" rating for the company in a research report on Tuesday, June 9th. Keefe, Bruyette & Woods raised shares of Blackstone to a "hold" rating in a research note on Monday, July 20th. Finally, Evercore reissued an "outperform" rating and set a $150.00 target price on shares of Blackstone in a research note on Tuesday, April 21st. Thirteen research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $147.95.

Insider Activity at Blackstone

In related news, insider Vikrant Sawhney sold 30,000 shares of the company's stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $135.55, for a total transaction of $4,066,500.00. Following the completion of the sale, the insider owned 869,669 shares in the company, valued at approximately $117,883,632.95. This represents a 3.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Private Multi-Asset Blackstone acquired 765,111 shares of the company's stock in a transaction on Tuesday, June 23rd. The shares were bought at an average price of $26.14 per share, for a total transaction of $20,000,001.54. Following the completion of the purchase, the insider owned 7,882,145 shares in the company, valued at approximately $206,039,270.30. This represents a 10.75% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders have bought 1,339,180 shares of company stock valued at $35,062,433 and have sold 7,562,000 shares valued at $40,331,085. Corporate insiders own 1.00% of the company's stock.

Blackstone Company Profile

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.

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