Alberta Investment Management Corp Buys Shares of 35,500 Blackstone Inc. $BX

Alberta Investment Management Corp bought a new position in Blackstone Inc. (NYSE:BX) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 35,500 shares of the asset manager’s stock, valued at approximately $6,065,000.

Several other institutional investors have also recently made changes to their positions in BX. REAP Financial Group LLC purchased a new position in shares of Blackstone during the third quarter worth about $26,000. Traub Capital Management LLC purchased a new position in Blackstone in the 2nd quarter worth approximately $27,000. Redmont Wealth Advisors LLC bought a new position in shares of Blackstone in the 3rd quarter worth $30,000. Parvin Asset Management LLC bought a new stake in shares of Blackstone during the 2nd quarter worth $35,000. Finally, Rexford Capital Inc. purchased a new position in Blackstone in the second quarter worth $35,000. Institutional investors own 70.00% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder Holdings Iv Gp Mana Blackstone acquired 384,468 shares of the firm’s stock in a transaction on Friday, December 19th. The stock was acquired at an average cost of $26.01 per share, for a total transaction of $10,000,012.68. Following the acquisition, the insider owned 16,525,117 shares of the company’s stock, valued at $429,818,293.17. This trade represents a 2.38% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of the business’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $10.00, for a total transaction of $15,961,420.00. Following the transaction, the insider owned 2,161 shares in the company, valued at $21,610. This represents a 99.86% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on BX shares. UBS Group set a $171.00 price target on Blackstone in a research note on Friday, January 30th. Rothschild & Co Redburn dropped their target price on Blackstone from $165.00 to $158.00 and set a “neutral” rating for the company in a research report on Monday, February 2nd. Bank of America reduced their price target on shares of Blackstone from $199.00 to $189.00 in a research report on Wednesday, December 10th. Piper Sandler cut their price objective on shares of Blackstone from $168.00 to $158.00 and set a “neutral” rating for the company in a research note on Monday, February 2nd. Finally, Argus decreased their target price on shares of Blackstone from $195.00 to $163.00 and set a “buy” rating on the stock in a research report on Wednesday, February 4th. Ten research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, Blackstone currently has an average rating of “Hold” and an average price target of $171.76.

Blackstone Trading Up 1.2%

Shares of BX opened at $133.02 on Thursday. The firm has a fifty day simple moving average of $148.74 and a two-hundred day simple moving average of $157.14. Blackstone Inc. has a twelve month low of $115.66 and a twelve month high of $190.09. The stock has a market capitalization of $98.23 billion, a P/E ratio of 34.28, a PEG ratio of 1.02 and a beta of 1.76. The company has a quick ratio of 0.75, a current ratio of 0.76 and a debt-to-equity ratio of 0.61.

Blackstone (NYSE:BX) last issued its quarterly earnings data on Thursday, January 29th. The asset manager reported $1.75 EPS for the quarter, beating the consensus estimate of $1.54 by $0.21. Blackstone had a net margin of 20.89% and a return on equity of 22.17%. The firm had revenue of $4.36 billion during the quarter, compared to the consensus estimate of $3.69 billion. During the same period in the prior year, the firm posted $1.69 earnings per share. The company’s quarterly revenue was up 41.4% compared to the same quarter last year. On average, research analysts anticipate that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 17th. Investors of record on Monday, February 9th were issued a dividend of $1.49 per share. This is a boost from Blackstone’s previous quarterly dividend of $1.29. This represents a $5.96 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date was Monday, February 9th. Blackstone’s dividend payout ratio is currently 153.61%.

Blackstone Company Profile

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.