Blackstone Inc. (NYSE:BX) Shares Purchased by TD Asset Management Inc

TD Asset Management Inc boosted its holdings in Blackstone Inc. (NYSE:BX - Free Report) by 7.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 289,483 shares of the asset manager's stock after buying an additional 19,307 shares during the quarter. TD Asset Management Inc's holdings in Blackstone were worth $40,464,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in BX. Brighton Jones LLC boosted its stake in Blackstone by 34.6% in the 4th quarter. Brighton Jones LLC now owns 7,917 shares of the asset manager's stock worth $1,365,000 after purchasing an additional 2,035 shares during the period. American Century Companies Inc. lifted its position in Blackstone by 11.8% in the 4th quarter. American Century Companies Inc. now owns 65,513 shares of the asset manager's stock worth $11,296,000 after buying an additional 6,938 shares in the last quarter. Loomis Sayles & Co. L P lifted its position in Blackstone by 8.3% in the 4th quarter. Loomis Sayles & Co. L P now owns 1,027 shares of the asset manager's stock worth $177,000 after buying an additional 79 shares in the last quarter. Allianz SE purchased a new stake in Blackstone in the 4th quarter worth approximately $284,000. Finally, L & S Advisors Inc purchased a new stake in Blackstone in the 4th quarter worth approximately $716,000. Institutional investors and hedge funds own 70.00% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on BX. Barclays increased their target price on shares of Blackstone from $168.00 to $181.00 and gave the stock an "equal weight" rating in a research report on Friday. Evercore ISI raised their price target on shares of Blackstone from $165.00 to $197.00 and gave the company an "outperform" rating in a report on Friday. Cowen restated a "buy" rating on shares of Blackstone in a report on Monday, April 21st. Citigroup restated a "market perform" rating on shares of Blackstone in a report on Saturday, July 19th. Finally, TD Cowen cut their price target on shares of Blackstone from $233.00 to $147.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Blackstone presently has a consensus rating of "Hold" and a consensus target price of $170.12.

Insider Buying and Selling at Blackstone

In other news, insider John G. Finley sold 25,000 shares of Blackstone stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $138.47, for a total transaction of $3,461,750.00. Following the sale, the insider directly owned 475,336 shares in the company, valued at approximately $65,819,775.92. The trade was a 5.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ruth Porat bought 237 shares of the firm's stock in a transaction dated Monday, May 5th. The shares were acquired at an average price of $136.33 per share, for a total transaction of $32,310.21. Following the completion of the transaction, the director owned 37,067 shares in the company, valued at $5,053,344.11. This represents a 0.64% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 2,849,769 shares of company stock valued at $54,932,307 in the last 90 days. Insiders own 1.00% of the company's stock.

Blackstone Stock Performance

NYSE BX opened at $176.82 on Tuesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.74 and a quick ratio of 0.75. The firm has a market capitalization of $129.02 billion, a price-to-earnings ratio of 47.53, a P/E/G ratio of 1.55 and a beta of 1.65. The company's fifty day moving average is $149.73 and its two-hundred day moving average is $150.43. Blackstone Inc. has a 52-week low of $115.66 and a 52-week high of $200.96.

Blackstone (NYSE:BX - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The asset manager reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.11. The company had revenue of $3.07 billion for the quarter, compared to analyst estimates of $2.77 billion. Blackstone had a net margin of 20.83% and a return on equity of 20.47%. The business's quarterly revenue was up 32.7% on a year-over-year basis. During the same period last year, the business posted $0.98 EPS. Equities research analysts forecast that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 11th. Stockholders of record on Monday, August 4th will be given a dividend of $1.03 per share. This is a positive change from Blackstone's previous quarterly dividend of $0.93. This represents a $4.12 annualized dividend and a dividend yield of 2.33%. The ex-dividend date is Monday, August 4th. Blackstone's payout ratio is 100.00%.

Blackstone Profile

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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