International Assets Investment Management LLC Has $4.58 Million Position in Blackstone Inc. (NYSE:BX)

International Assets Investment Management LLC boosted its position in Blackstone Inc. (NYSE:BX - Free Report) by 12.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 32,784 shares of the asset manager's stock after buying an additional 3,502 shares during the quarter. International Assets Investment Management LLC's holdings in Blackstone were worth $4,582,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new position in Blackstone in the fourth quarter valued at approximately $974,448,000. Raymond James Financial Inc. acquired a new position in shares of Blackstone during the 4th quarter worth approximately $316,257,000. Capital Research Global Investors acquired a new position in shares of Blackstone during the 4th quarter worth approximately $239,837,000. GAMMA Investing LLC boosted its stake in Blackstone by 14,608.6% in the 1st quarter. GAMMA Investing LLC now owns 1,322,598 shares of the asset manager's stock valued at $184,873,000 after purchasing an additional 1,313,606 shares during the period. Finally, Vanguard Group Inc. boosted its stake in Blackstone by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 66,894,632 shares of the asset manager's stock valued at $11,533,972,000 after purchasing an additional 889,286 shares during the period. Institutional investors and hedge funds own 70.00% of the company's stock.

Blackstone Trading Up 0.4%

Shares of BX stock opened at $138.30 on Tuesday. The firm has a market cap of $100.91 billion, a P/E ratio of 41.66, a price-to-earnings-growth ratio of 1.26 and a beta of 1.65. Blackstone Inc. has a 12-month low of $115.66 and a 12-month high of $200.96. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.67. The business has a 50-day moving average price of $137.39 and a two-hundred day moving average price of $153.29.

Blackstone (NYSE:BX - Get Free Report) last posted its earnings results on Thursday, April 17th. The asset manager reported $1.09 earnings per share for the quarter, missing analysts' consensus estimates of $1.22 by ($0.13). The firm had revenue of $2.76 billion for the quarter, compared to analysts' expectations of $2.95 billion. Blackstone had a return on equity of 19.84% and a net margin of 19.83%. During the same quarter last year, the company posted $0.98 EPS. Equities analysts anticipate that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Monday, April 28th were issued a dividend of $0.93 per share. The ex-dividend date was Monday, April 28th. This represents a $3.72 annualized dividend and a dividend yield of 2.69%. Blackstone's payout ratio is 112.05%.

Insider Activity

In other Blackstone news, insider John G. Finley sold 25,000 shares of the stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $138.47, for a total value of $3,461,750.00. Following the completion of the sale, the insider now owns 475,336 shares in the company, valued at approximately $65,819,775.92. This represents a 5.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ruth Porat purchased 237 shares of the business's stock in a transaction on Monday, May 5th. The stock was acquired at an average price of $136.33 per share, with a total value of $32,310.21. Following the purchase, the director now directly owns 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 own 1.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on BX shares. TD Cowen dropped their price objective on Blackstone from $233.00 to $147.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. JMP Securities reissued a "market outperform" rating and set a $165.00 price target on shares of Blackstone in a report on Thursday, April 24th. Barclays upped their target price on Blackstone from $129.00 to $136.00 and gave the stock an "equal weight" rating in a report on Monday, April 21st. Wells Fargo & Company upped their target price on Blackstone from $139.00 to $153.00 and gave the stock an "equal weight" rating in a report on Friday, May 23rd. Finally, Citigroup reduced their price target on Blackstone from $190.00 to $137.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $155.65.

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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