Blackstone Inc. $BX Shares Newly Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Blackstone Inc. (NYSE:BX) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 927,839 shares of the asset manager’s stock, valued at approximately $104,001,000. Mirae Asset Global Investments Co. Ltd. owned approximately 0.12% of Blackstone as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of BX. Wellington Altus USA Inc. acquired a new stake in shares of Blackstone during the second quarter worth $26,000. Addison Advisors LLC acquired a new position in shares of Blackstone in the 2nd quarter valued at about $30,000. NBH Bank bought a new stake in shares of Blackstone during the 2nd quarter valued at about $30,000. Bell Investment Advisors Inc bought a new stake in shares of Blackstone during the 2nd quarter valued at about $30,000. Finally, West Branch Capital LLC raised its stake in Blackstone by 26,600.0% during the second quarter. West Branch Capital LLC now owns 267 shares of the asset manager’s stock worth $31,000 after acquiring an additional 266 shares during the period. Institutional investors own 70.00% of the company’s stock.

Insider Activity at Blackstone

In related news, major shareholder Holdings Iv L.P. Blackstone purchased 272,642 shares of the company’s stock in a transaction on Friday, August 21st. The shares were bought at an average cost of $26.14 per share, for a total transaction of $7,126,861.88. Following the transaction, the insider owned 8,704,419 shares of the company’s stock, valued at $227,533,512.66. This represents a 3.23% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, insider John G. Finley sold 45,000 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $147.11, for a total transaction of $6,619,950.00. Following the completion of the transaction, the insider owned 516,017 shares of the company’s stock, valued at $75,911,260.87. This trade represents a 8.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders acquired 464,792 shares of company stock valued at $12,205,945 and sold 4,077,276 shares valued at $37,573,644. 1.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have commented on the company. JPMorgan Chase & Co. decreased their target price on Blackstone from $136.00 to $135.00 and set a “neutral” rating for the company in a research note on Friday, October 23rd. Piper Sandler set a $126.00 price target on Blackstone in a report on Friday, October 23rd. The Goldman Sachs Group restated a “neutral” rating and set a $128.00 price objective on shares of Blackstone in a research report on Thursday, October 22nd. BMO Capital Markets restated an “outperform” rating and set a $130.00 price objective on shares of Blackstone in a research note on Wednesday, October 21st. Finally, Wells Fargo & Company started coverage on Blackstone in a research report on Friday, October 2nd. They issued an “equal weight” rating and a $122.00 target price on the stock. Thirteen investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $144.57.

Blackstone Price Performance

Shares of NYSE:BX opened at $118.46 on Friday. The firm’s 50 day moving average is $122.66 and its two-hundred day moving average is $124.46. The firm has a market capitalization of $88.92 billion, a P/E ratio of 26.32, a PEG ratio of 1.51 and a beta of 1.59. The company has a current ratio of 0.71, a quick ratio of 0.72 and a debt-to-equity ratio of 0.68. Blackstone Inc. has a 52 week low of $101.73 and a 52 week high of $165.14.

Blackstone (NYSE:BX) last posted its earnings results on Thursday, October 22nd. The asset manager reported $1.32 EPS for the quarter, beating the consensus estimate of $1.26 by $0.06. The firm had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.27 billion. Blackstone had a return on equity of 23.16% and a net margin of 22.11%. The firm’s revenue was down .8% compared to the same quarter last year. During the same period last year, the firm earned $0.80 EPS. Analysts anticipate that Blackstone Inc. will post 5.89 earnings per share for the current year.

Blackstone Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 9th. Stockholders of record on Monday, November 2nd will be issued a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.8%. This is a negative change from Blackstone’s previous quarterly dividend of $1.29. The ex-dividend date of this dividend is Monday, November 2nd. Blackstone’s dividend payout ratio is 114.67%.

Blackstone Profile

Blackstone Inc (NYSE:BX) is a global alternative asset management firm that provides investment and advisory services to institutional investors, companies, and qualified individual investors. The company manages capital across private equity, real estate, credit and insurance, infrastructure, hedge fund solutions, secondaries, and growth-oriented investments.

Blackstone invests in and manages portfolios of businesses, properties, infrastructure assets, and credit instruments across a range of industries.