Robeco Institutional Asset Management B.V. Has $1.19 Million Position in Blackstone Inc. $BX

Robeco Institutional Asset Management B.V. cut its holdings in Blackstone Inc. (NYSE:BX - Free Report) by 66.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,928 shares of the asset manager's stock after selling 15,684 shares during the quarter. Robeco Institutional Asset Management B.V.'s holdings in Blackstone were worth $1,186,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Keefe, Bruyette & Woods upped their target price on shares of Blackstone from $168.00 to $180.00 and gave the company a "market perform" rating in a research note on Friday, July 25th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Blackstone from $170.00 to $192.00 and gave the company a "buy" rating in a report on Friday, July 25th. Piper Sandler boosted their price target on shares of Blackstone from $157.00 to $181.00 and gave the company a "neutral" rating in a report on Monday, July 28th. Jefferies Financial Group lowered their price target on shares of Blackstone from $207.00 to $199.00 and set a "buy" rating on the stock in a report on Tuesday. Finally, Barclays boosted their price target on shares of Blackstone from $168.00 to $181.00 and gave the company an "equal weight" rating in a report on Friday, July 25th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $176.83.

Blackstone Price Performance

NYSE:BX opened at $164.83 on Wednesday. Blackstone Inc. has a 12 month low of $115.66 and a 12 month high of $200.96. The company's 50-day moving average price is $173.37 and its two-hundred day moving average price is $154.03. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.61. The firm has a market cap of $121.50 billion, a PE ratio of 44.31, a price-to-earnings-growth ratio of 1.36 and a beta of 1.77.

Blackstone (NYSE:BX - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The asset manager reported $1.21 EPS for the quarter, topping analysts' consensus estimates of $1.10 by $0.11. Blackstone had a net margin of 20.83% and a return on equity of 20.47%. The firm had revenue of $3.07 billion for the quarter, compared to analyst estimates of $2.77 billion. During the same quarter in the prior year, the firm earned $0.98 EPS. The company's revenue was up 32.7% on a year-over-year basis. On average, equities analysts anticipate that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 11th. Shareholders of record on Monday, August 4th were issued a dividend of $1.03 per share. The ex-dividend date of this dividend was Monday, August 4th. This represents a $4.12 dividend on an annualized basis and a yield of 2.5%. This is an increase from Blackstone's previous quarterly dividend of $0.93. Blackstone's payout ratio is currently 110.75%.

Insider Activity

In other news, insider Vikrant Sawhney sold 50,850 shares of the firm's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $173.64, for a total value of $8,829,594.00. Following the transaction, the insider owned 737,248 shares of the company's stock, valued at approximately $128,015,742.72. This trade represents a 6.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joseph Baratta sold 113,000 shares of the firm's 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 3,727,877 shares of company stock worth $95,046,625 and have sold 16,984,634 shares worth $155,181,346. 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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