Nordea Investment Management AB Has $12.29 Million Stock Position in Blackstone Inc. $BX

Key Points

• Nordea Investment Management AB reduced its stake in Blackstone Inc. by 4.4% in Q2, owning 82,031 shares valued at approximately $12.29 million.
• Several hedge funds, including Kingstone Capital Partners, made significant changes to their stakes in Blackstone, with Kingstone increasing its holdings by over 519,000% to around 70.13 million shares valued at $10.49 billion.
• Blackstone's quarterly dividend increased from $0.93 to $1.03 per share, with an annualized yield of 2.6% and a payout ratio of 110.75%.

Nordea Investment Management AB lowered its stake in Blackstone Inc. (NYSE:BX - Free Report) by 4.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,031 shares of the asset manager's stock after selling 3,797 shares during the period. Nordea Investment Management AB's holdings in Blackstone were worth $12,292,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Kingstone Capital Partners Texas LLC raised its stake in shares of Blackstone by 519,669.1% during the second quarter. Kingstone Capital Partners Texas LLC now owns 70,132,441 shares of the asset manager's stock valued at $10,490,411,000 after acquiring an additional 70,118,948 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Blackstone by 1.6% during the first quarter. Vanguard Group Inc. now owns 67,997,581 shares of the asset manager's stock valued at $9,504,702,000 after acquiring an additional 1,102,949 shares during the last quarter. Nuveen LLC bought a new position in shares of Blackstone during the first quarter valued at $151,524,000. Amundi raised its stake in shares of Blackstone by 69.3% during the first quarter. Amundi now owns 2,421,502 shares of the asset manager's stock valued at $323,000,000 after acquiring an additional 990,947 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Blackstone by 16.3% during the first quarter. Goldman Sachs Group Inc. now owns 5,292,320 shares of the asset manager's stock valued at $739,761,000 after acquiring an additional 742,829 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company's stock.

Insider Activity

In other news, Director Joseph Baratta sold 113,000 shares of Blackstone stock in a transaction dated Thursday, September 25th. The shares were sold at an average price of $175.69, for a total transaction of $19,852,970.00. Following the completion of the transaction, the director directly owned 695,757 shares in the company, valued at $122,237,547.33. This trade represents a 13.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Vikrant Sawhney sold 50,850 shares of the business's stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $173.64, for a total transaction of $8,829,594.00. Following the transaction, the insider owned 737,248 shares in the company, valued at approximately $128,015,742.72. This trade represents a 6.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders acquired 2,538,345 shares of company stock valued at $65,046,628 and sold 16,984,634 shares valued at $155,181,346. Corporate insiders own 1.00% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods lowered their target price on shares of Blackstone from $180.00 to $171.00 and set a "market perform" rating for the company in a research note on Monday, October 13th. Dbs Bank raised shares of Blackstone to a "moderate buy" rating in a research note on Tuesday, August 12th. The Goldman Sachs Group lifted their target price on shares of Blackstone from $172.00 to $173.00 and gave the stock a "neutral" rating in a research note on Friday, October 3rd. HSBC lifted their target price on shares of Blackstone from $170.00 to $179.00 in a research note on Wednesday, October 15th. Finally, TD Cowen decreased their price target on shares of Blackstone from $215.00 to $208.00 and set a "buy" rating for the company in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $180.26.

Blackstone Trading Down 1.0%

BX opened at $156.37 on Monday. Blackstone Inc. has a 1-year low of $115.66 and a 1-year high of $200.96. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.61. The company has a market cap of $115.26 billion, a P/E ratio of 42.03, a price-to-earnings-growth ratio of 1.27 and a beta of 1.77. The company has a fifty day moving average price of $171.66 and a two-hundred day moving average price of $154.98.

Blackstone (NYSE:BX - Get Free Report) last issued its quarterly earnings data on Friday, November 22nd. The asset manager reported $0.97 earnings per share (EPS) for the quarter. The firm had revenue of $2.49 billion during the quarter. Blackstone had a net margin of 20.83% and a return on equity of 20.47%. Analysts predict that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 11th. Stockholders of record on Monday, August 4th were issued a dividend of $1.03 per share. This is an increase from Blackstone's previous quarterly dividend of $0.93. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date was Monday, August 4th. Blackstone's dividend payout ratio is 110.75%.

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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