Raiffeisen Bank International AG Makes New $833,000 Investment in Blackstone Inc. (NYSE:BX)

Raiffeisen Bank International AG bought a new stake in shares of Blackstone Inc. (NYSE:BX - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 4,843 shares of the asset manager's stock, valued at approximately $833,000.

Several other hedge funds have also modified their holdings of BX. Assenagon Asset Management S.A. lifted its holdings in shares of Blackstone by 6.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 18,769 shares of the asset manager's stock valued at $3,236,000 after purchasing an additional 1,214 shares during the last quarter. USA Financial Formulas acquired a new position in Blackstone during the fourth quarter valued at $177,000. Carnegie Investment Counsel raised its position in Blackstone by 7.0% during the fourth quarter. Carnegie Investment Counsel now owns 1,536 shares of the asset manager's stock valued at $265,000 after buying an additional 101 shares during the period. Ullmann Wealth Partners Group LLC raised its position in Blackstone by 2.9% during the fourth quarter. Ullmann Wealth Partners Group LLC now owns 4,719 shares of the asset manager's stock valued at $814,000 after buying an additional 133 shares during the period. Finally, Border to Coast Pensions Partnership Ltd raised its position in Blackstone by 15.0% during the fourth quarter. Border to Coast Pensions Partnership Ltd now owns 57,500 shares of the asset manager's stock valued at $9,908,000 after buying an additional 7,500 shares during the period. 70.00% of the stock is owned by hedge funds and other institutional investors.

Blackstone Price Performance

Shares of Blackstone stock traded down $1.35 during midday trading on Tuesday, hitting $144.10. 4,566,010 shares of the company were exchanged, compared to its average volume of 3,778,100. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71. The firm has a market cap of $105.14 billion, a P/E ratio of 39.70, a PEG ratio of 1.07 and a beta of 1.67. Blackstone Inc. has a 52 week low of $115.66 and a 52 week high of $200.96. The firm has a 50 day simple moving average of $137.35 and a 200-day simple moving average of $161.28.

Blackstone (NYSE:BX - Get Free Report) last posted its earnings results on Thursday, April 17th. The asset manager reported $1.09 EPS for the quarter, missing the consensus estimate of $1.22 by ($0.13). Blackstone had a return on equity of 19.58% and a net margin of 20.99%. The company had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same quarter last year, the business earned $0.98 EPS. Research analysts forecast that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Monday, April 28th were issued a dividend of $0.93 per share. The ex-dividend date of this dividend was Monday, April 28th. This represents a $3.72 dividend on an annualized basis and a yield of 2.58%. Blackstone's dividend payout ratio is 112.05%.

Analysts Set New Price Targets

Several research analysts have weighed in on BX shares. Cowen reaffirmed a "buy" rating on shares of Blackstone in a research report on Monday, April 21st. TD Cowen decreased their target price on Blackstone from $233.00 to $147.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Piper Sandler decreased their target price on Blackstone from $182.00 to $140.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Wells Fargo & Company decreased their target price on Blackstone from $160.00 to $139.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. Finally, Citigroup decreased their target price on Blackstone from $190.00 to $137.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $154.82.

Insider Activity

In related news, insider John G. Finley sold 25,000 shares of Blackstone stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $138.47, for a total transaction of $3,461,750.00. Following the completion of the sale, the insider now directly owns 475,336 shares of the company's stock, valued at $65,819,775.92. The trade was a 5.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Private Credit Stra Blackstone acquired 1,660,000 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The shares were bought 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 now owns 1,666,667 shares of the company's stock, valued at $25,000,005. This trade represents a 24,898.76% increase in their ownership of the stock. The disclosure for this purchase can be found here. 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.