Blackstone Inc. $BX Shares Purchased by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. raised its position in Blackstone Inc. (NYSE:BX) by 6.4% during the second quarter, Holdings Channel reports. The firm owned 238,432 shares of the asset manager’s stock after buying an additional 14,351 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Blackstone were worth $35,721,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of BX. Kera Capital Partners Inc. purchased a new position in shares of Blackstone in the 2nd quarter valued at about $273,000. Perigon Wealth Management LLC lifted its stake in Blackstone by 3.2% in the second quarter. Perigon Wealth Management LLC now owns 62,484 shares of the asset manager’s stock worth $9,346,000 after acquiring an additional 1,949 shares during the last quarter. Redmond Asset Management LLC increased its position in shares of Blackstone by 21.2% in the 2nd quarter. Redmond Asset Management LLC now owns 18,785 shares of the asset manager’s stock valued at $2,810,000 after purchasing an additional 3,281 shares during the last quarter. Bourgeon Capital Management LLC purchased a new stake in shares of Blackstone during the 2nd quarter worth $423,000. Finally, Sandy Cove Advisors LLC increased its holdings in Blackstone by 22.1% in the second quarter. Sandy Cove Advisors LLC now owns 12,042 shares of the asset manager’s stock valued at $1,801,000 after buying an additional 2,182 shares during the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Stock Performance

NYSE BX opened at $143.50 on Friday. Blackstone Inc. has a 12-month low of $115.66 and a 12-month high of $200.96. The company has a current ratio of 0.75, a quick ratio of 0.74 and a debt-to-equity ratio of 0.60. The business’s 50 day moving average is $166.31 and its two-hundred day moving average is $156.99. The stock has a market capitalization of $105.77 billion, a price-to-earnings ratio of 41.00, a PEG ratio of 1.18 and a beta of 1.76.

Blackstone (NYSE:BX) last released its quarterly earnings data on Friday, November 22nd. The asset manager reported $0.97 earnings per share for the quarter. Blackstone had a return on equity of 22.30% and a net margin of 20.56%.The firm had revenue of $2.49 billion during the quarter. Research analysts expect that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Monday, November 3rd will be paid a $1.29 dividend. This represents a $5.16 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Monday, November 3rd. This is an increase from Blackstone’s previous quarterly dividend of $1.03. Blackstone’s dividend payout ratio is presently 147.43%.

Insider Activity at Blackstone

In other news, major shareholder Bx Buzz Ml-1 Gp Llc sold 16,689,884 shares of Blackstone stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $6.26, for a total value of $104,478,673.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 value of $19,852,970.00. Following the completion of the sale, the director owned 695,757 shares of the company’s stock, valued at $122,237,547.33. This trade represents a 13.97% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have bought 2,565,415 shares of company stock worth $69,037,981 and have sold 16,875,234 shares worth $136,847,628. 1.00% of the stock is owned by company insiders.

Analyst Ratings Changes

BX has been the topic of a number of recent analyst reports. TD Cowen dropped their price objective on Blackstone from $208.00 to $205.00 and set a “buy” rating on the stock in a report on Friday, October 24th. Bank of America reduced their price objective on shares of Blackstone from $200.00 to $199.00 in a research report on Friday, October 3rd. Jefferies Financial Group cut their price target on shares of Blackstone from $207.00 to $199.00 and set a “buy” rating on the stock in a research note on Tuesday, October 7th. Morgan Stanley raised their price objective on Blackstone from $200.00 to $215.00 and gave the stock an “overweight” rating in a report on Tuesday, October 21st. Finally, BMO Capital Markets dropped their price target on Blackstone from $190.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, October 27th. Eleven equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $179.74.

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.