Tokio Marine Asset Management Co. Ltd. Has $3.41 Million Holdings in Blackstone Inc. (NYSE:BX)

Key Points

• Tokio Marine Asset Management increased its holdings in Blackstone Inc. by 12.0%, acquiring an additional 2,623 shares during the first quarter, bringing its total to 24,420 shares valued at approximately $3.41 million.
• Blackstone's stock has received multiple upgrades from analysts, with target prices raised by firms like Deutsche Bank and Barclays, reflecting positive sentiment surrounding the company's performance.
• The firm announced a quarterly dividend boost to $1.03 per share, raising its annualized dividend to $4.12 with a yield of 2.3%, indicating continued financial strength.

Tokio Marine Asset Management Co. Ltd. lifted its position in Blackstone Inc. (NYSE:BX - Free Report) by 12.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 24,420 shares of the asset manager's stock after purchasing an additional 2,623 shares during the quarter. Tokio Marine Asset Management Co. Ltd.'s holdings in Blackstone were worth $3,413,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Ascent Group LLC grew its holdings in Blackstone by 0.9% during the 4th quarter. Ascent Group LLC now owns 8,522 shares of the asset manager's stock worth $1,469,000 after acquiring an additional 74 shares during the last quarter. Global Assets Advisory LLC grew its holdings 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 acquiring an additional 75 shares during the last quarter. Angeles Wealth Management LLC grew its holdings in Blackstone by 0.6% during the 1st quarter. Angeles Wealth Management LLC now owns 11,819 shares of the asset manager's stock worth $1,652,000 after acquiring an additional 76 shares during the last quarter. Aptus Capital Advisors LLC boosted its stake in shares of Blackstone by 0.9% in the 4th quarter. Aptus Capital Advisors LLC now owns 8,466 shares of the asset manager's stock valued at $1,460,000 after purchasing an additional 78 shares during the last quarter. Finally, Nicolet Advisory Services LLC boosted its stake in shares of Blackstone by 0.7% in the 1st quarter. Nicolet Advisory Services LLC now owns 12,075 shares of the asset manager's stock valued at $1,539,000 after purchasing an additional 78 shares during the last quarter. Institutional investors own 70.00% of the company's stock.

Insider Activity

In other news, major shareholder Holdings I. L.P. Blackstone bought 1,189,532 shares of the company's stock in a transaction dated Friday, July 18th. The stock was bought at an average price of $25.22 per share, with a total value of $29,999,997.04. Following the completion of the acquisition, the insider owned 4,178,771 shares of the company's stock, valued at $105,388,604.62. This represents a 39.79% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Vikrant Sawhney sold 50,850 shares of Blackstone stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $173.64, for a total value of $8,829,594.00. Following the sale, the insider directly owned 737,248 shares of the company's stock, valued at $128,015,742.72. This represents a 6.45% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders purchased 1,189,806 shares of company stock valued at $30,046,627 and sold 16,850,134 shares valued at $131,641,986. 1.00% of the stock is owned by company insiders.

Blackstone Stock Down 1.8%

Shares of NYSE BX traded down $3.07 during midday trading on Friday, reaching $171.61. The company's stock had a trading volume of 3,681,204 shares, compared to its average volume of 3,651,876. Blackstone Inc. has a fifty-two week low of $115.66 and a fifty-two week high of $200.96. The company has a current ratio of 0.74, a quick ratio of 0.75 and a debt-to-equity ratio of 0.61. The stock has a 50 day simple moving average of $159.05 and a 200-day simple moving average of $149.87. The stock has a market capitalization of $126.49 billion, a price-to-earnings ratio of 46.13, a PEG ratio of 1.40 and a beta of 1.71.

Blackstone (NYSE:BX - Get Free Report) last released its earnings results on Thursday, July 24th. The asset manager reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.11. Blackstone had a net margin of 20.83% and a return on equity of 20.47%. The business had revenue of $3.07 billion during the quarter, compared to analysts' expectations of $2.77 billion. During the same period last year, the business earned $0.98 earnings per share. The firm's revenue was up 32.7% on a year-over-year basis. Equities research analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current 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 given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 2.4%. This is a positive change from Blackstone's previous quarterly dividend of $0.93. The ex-dividend date of this dividend was Monday, August 4th. Blackstone's dividend payout ratio (DPR) is presently 110.75%.

Analysts Set New Price Targets

BX has been the topic of several recent research reports. Barclays raised their target price on shares of Blackstone from $168.00 to $181.00 and gave the company an "equal weight" rating in a research note on Friday, July 25th. Cowen reaffirmed a "buy" rating on shares of Blackstone in a research note on Monday, April 21st. Keefe, Bruyette & Woods increased their price target on shares of Blackstone from $168.00 to $180.00 and gave the company a "market perform" rating in a research report on Friday, July 25th. The Goldman Sachs Group reiterated a "neutral" rating on shares of Blackstone in a research report on Friday, July 25th. Finally, Dbs Bank upgraded shares of Blackstone to a "moderate buy" rating in a report on Tuesday. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $170.12.

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.