Blackstone Inc. $BX Shares Bought by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Blackstone Inc. by 5.5% during the first quarter, acquiring a total of 75,577 shares valued at approximately $10.56 million.
• Recent analyst upgrades have seen price targets for Blackstone's stock rise, with estimates ranging from $180.00 to $195.00 and an overall consensus rating of "Moderate Buy".
• Blackstone recently increased its quarterly dividend to $1.03, marking a rise from $0.93, with an annualized yield of 2.4%, despite a high dividend payout ratio of 110.75%.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Blackstone Inc. (NYSE:BX - Free Report) by 5.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 75,577 shares of the asset manager's stock after purchasing an additional 3,917 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Blackstone were worth $10,564,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently bought and sold shares of BX. Integrated Wealth Concepts LLC lifted its holdings in shares of Blackstone by 55.2% in the 1st quarter. Integrated Wealth Concepts LLC now owns 51,740 shares of the asset manager's stock worth $7,232,000 after acquiring an additional 18,396 shares during the last quarter. Edmond DE Rothschild Holding S.A. raised its holdings in Blackstone by 14.5% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 14,708 shares of the asset manager's stock valued at $2,056,000 after acquiring an additional 1,863 shares in the last quarter. Cinctive Capital Management LP acquired a new position in Blackstone during the 1st quarter worth approximately $847,000. Concentric Capital Strategies LP acquired a new stake in shares of Blackstone in the 1st quarter valued at $365,000. Finally, BW Gestao de Investimentos Ltda. grew its stake in shares of Blackstone by 498.6% during the first quarter. BW Gestao de Investimentos Ltda. now owns 120,716 shares of the asset manager's stock worth $16,874,000 after purchasing an additional 100,550 shares in the last quarter. Hedge funds and other institutional investors own 70.00% of the company's stock.

Analyst Ratings Changes

Several research firms have recently issued reports on BX. JMP Securities upped their price objective on Blackstone from $180.00 to $195.00 and gave the stock a "market outperform" rating in a research report on Friday, July 25th. Keefe, Bruyette & Woods upped their price target on Blackstone from $168.00 to $180.00 and gave the company a "market perform" rating in a report on Friday, July 25th. Barclays boosted their price objective on shares of Blackstone from $168.00 to $181.00 and gave the stock an "equal weight" rating in a research report on Friday, July 25th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Blackstone from $170.00 to $192.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Finally, Piper Sandler upped their price objective on shares of Blackstone from $157.00 to $181.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. Nine investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $172.38.

Blackstone Trading Down 0.0%

NYSE BX opened at $173.28 on Wednesday. Blackstone Inc. has a one year low of $115.66 and a one year high of $200.96. The firm has a market cap of $127.72 billion, a PE ratio of 46.58, a P/E/G ratio of 1.41 and a beta of 1.77. The firm's fifty day moving average is $168.44 and its two-hundred day moving average is $150.05. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.74 and a current ratio of 0.74.

Blackstone (NYSE:BX - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The asset manager reported $1.21 EPS for the quarter, beating the consensus estimate of $1.10 by $0.11. The firm had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $2.77 billion. Blackstone had a return on equity of 20.47% and a net margin of 20.83%.The firm's revenue was up 32.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.98 EPS. Analysts expect that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 11th. Shareholders of record on Monday, August 4th were paid a $1.03 dividend. The ex-dividend date of this dividend was Monday, August 4th. This represents a $4.12 annualized dividend and a yield of 2.4%. This is an increase from Blackstone's previous quarterly dividend of $0.93. Blackstone's dividend payout ratio is presently 110.75%.

Insider Buying and Selling

In other Blackstone news, Director Joseph Baratta sold 100,000 shares of Blackstone stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $167.36, for a total value of $16,736,000.00. Following the sale, the director owned 808,757 shares of the company's stock, valued at approximately $135,353,571.52. The trade was a 11.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO David Payne sold 9,400 shares of the stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $169.97, for a total value of $1,597,718.00. Following the transaction, the chief accounting officer directly owned 54,488 shares of the company's stock, valued at approximately $9,261,325.36. This trade represents a 14.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have acquired 1,189,806 shares of company stock worth $30,046,627 and have sold 16,850,134 shares worth $131,641,986. Insiders own 1.00% of the company's stock.

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.

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