Blackstone Inc. (NYSE:BX) is Y Intercept Hong Kong Ltd's 7th Largest Position

Y Intercept Hong Kong Ltd raised its position in Blackstone Inc. (NYSE:BX - Free Report) by 4.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 92,002 shares of the asset manager's stock after purchasing an additional 4,180 shares during the period. Blackstone accounts for 0.9% of Y Intercept Hong Kong Ltd's investment portfolio, making the stock its 7th biggest position. Y Intercept Hong Kong Ltd's holdings in Blackstone were worth $12,860,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Meiji Yasuda Asset Management Co Ltd. grew its position in Blackstone by 0.5% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,426 shares of the asset manager's stock worth $1,970,000 after purchasing an additional 62 shares during the last quarter. Ascent Group LLC boosted its position in shares of Blackstone by 0.9% in the 4th quarter. Ascent Group LLC now owns 8,522 shares of the asset manager's stock worth $1,469,000 after buying an additional 74 shares in the last quarter. Global Assets Advisory LLC increased its position in Blackstone by 1.9% during the 4th quarter. Global Assets Advisory LLC now owns 4,013 shares of the asset manager's stock worth $697,000 after purchasing an additional 75 shares in the last quarter. Aptus Capital Advisors LLC boosted its stake in shares of Blackstone by 0.9% during the 4th quarter. Aptus Capital Advisors LLC now owns 8,466 shares of the asset manager's stock valued at $1,460,000 after buying an additional 78 shares during the last quarter. Finally, Loomis Sayles & Co. L P raised its holdings in shares of 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 purchasing an additional 79 shares in the last quarter. 70.00% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, major shareholder Holdings I. L.P. Blackstone acquired 1,189,532 shares of the stock in a transaction dated Friday, July 18th. The shares were acquired at an average price of $25.22 per share, with a total value of $29,999,997.04. Following the acquisition, the insider owned 4,178,771 shares in the company, valued at approximately $105,388,604.62. The trade was a 39.79% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Private Credit Stra Blackstone bought 1,660,000 shares of the stock in a transaction dated Thursday, May 1st. The stock was purchased at an average cost of $15.00 per share, with a total value of $24,900,000.00. Following the completion of the purchase, the insider directly owned 1,666,667 shares in the company, valued at approximately $25,000,005. This trade represents a 24,898.76% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 2,849,769 shares of company stock worth $54,932,307. Insiders own 1.00% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on BX shares. Citizens Jmp upgraded Blackstone from a "market perform" rating to an "outperform" rating and set a $165.00 target price on the stock in a report on Tuesday, April 8th. Wells Fargo & Company raised their target price on Blackstone from $153.00 to $167.00 and gave the stock an "equal weight" rating in a research note on Friday, July 11th. Cowen restated a "buy" rating on shares of Blackstone in a research note on Monday, April 21st. Bank of America dropped their target price on Blackstone from $219.00 to $207.00 and set a "buy" rating for the company in a report on Friday, April 4th. Finally, Citigroup reaffirmed a "market perform" rating on shares of Blackstone in a report on Saturday, July 19th. Ten investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $168.71.

Blackstone Trading Up 0.9%

BX stock traded up $1.62 during midday trading on Friday, hitting $179.73. The stock had a trading volume of 1,484,719 shares, compared to its average volume of 4,312,167. Blackstone Inc. has a 1-year low of $115.66 and a 1-year high of $200.96. The business has a fifty day moving average price of $148.47 and a two-hundred day moving average price of $150.63. The firm has a market cap of $131.14 billion, a P/E ratio of 54.11, a price-to-earnings-growth ratio of 1.55 and a beta of 1.65. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.67.

Blackstone (NYSE:BX - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The asset manager reported $1.21 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 the consensus estimate of $2.77 billion. Blackstone had a net margin of 19.83% and a return on equity of 19.84%. The firm's revenue was up 32.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.98 EPS. On average, sell-side analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 11th. Stockholders of record on Monday, August 4th will be paid a $1.03 dividend. 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 2.29%. Blackstone's payout ratio is currently 112.05%.

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.