Robeco Institutional Asset Management B.V. Cuts Stock Holdings in Blackstone Inc. (NYSE:BX)

Robeco Institutional Asset Management B.V. lowered its holdings in Blackstone Inc. (NYSE:BX – Get Rating) by 26.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 143,289 shares of the asset manager’s stock after selling 52,733 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Blackstone were worth $11,993,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of BX. Fairfield Bush & CO. boosted its position in Blackstone by 56.1% in the first quarter. Fairfield Bush & CO. now owns 4,255 shares of the asset manager’s stock worth $540,000 after purchasing an additional 1,530 shares during the last quarter. United Bank raised its stake in shares of Blackstone by 34.2% in the first quarter. United Bank now owns 8,441 shares of the asset manager’s stock valued at $1,072,000 after buying an additional 2,153 shares during the period. Yousif Capital Management LLC raised its stake in shares of Blackstone by 10.4% in the first quarter. Yousif Capital Management LLC now owns 10,969 shares of the asset manager’s stock valued at $1,392,000 after buying an additional 1,034 shares during the period. Insight Advisors LLC PA raised its stake in shares of Blackstone by 1.6% in the first quarter. Insight Advisors LLC PA now owns 18,446 shares of the asset manager’s stock valued at $2,341,000 after buying an additional 286 shares during the period. Finally, Candriam Luxembourg S.C.A. raised its stake in shares of Blackstone by 12.8% in the first quarter. Candriam Luxembourg S.C.A. now owns 38,429 shares of the asset manager’s stock valued at $4,878,000 after buying an additional 4,366 shares during the period. Hedge funds and other institutional investors own 62.39% of the company’s stock.

Analysts Set New Price Targets

BX has been the topic of several research reports. The Goldman Sachs Group boosted their target price on Blackstone from $86.00 to $100.00 and gave the company a “buy” rating in a research note on Monday, January 30th. CICC Research started coverage on Blackstone in a research note on Thursday, January 12th. They set an “outperform” rating on the stock. Barclays boosted their price objective on Blackstone from $86.00 to $100.00 and gave the company an “equal weight” rating in a research note on Friday, January 27th. Piper Sandler decreased their price objective on Blackstone from $114.00 to $111.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 21st. Finally, JPMorgan Chase & Co. upgraded Blackstone from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $104.00 to $105.00 in a research note on Tuesday, January 24th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Blackstone has an average rating of “Hold” and an average target price of $112.33.

Blackstone Price Performance

BX opened at $84.89 on Friday. The stock has a 50-day moving average price of $89.93 and a 200-day moving average price of $88.03. Blackstone Inc. has a 12-month low of $71.72 and a 12-month high of $132.93. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $59.96 billion, a P/E ratio of 35.82, a PEG ratio of 1.89 and a beta of 1.52.

Blackstone (NYSE:BX – Get Rating) last posted its quarterly earnings data on Thursday, January 26th. The asset manager reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.12. Blackstone had a return on equity of 19.43% and a net margin of 20.52%. The firm had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $2.62 billion. During the same period in the prior year, the business earned $1.71 EPS. Equities analysts predict that Blackstone Inc. will post 4.66 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 13th. Investors of record on Monday, February 6th were issued a dividend of $0.91 per share. The ex-dividend date was Friday, February 3rd. This is a boost from Blackstone’s previous quarterly dividend of $0.90. This represents a $3.64 annualized dividend and a yield of 4.29%. Blackstone’s dividend payout ratio is currently 153.59%.

Insider Activity at Blackstone

In related news, major shareholder Holdings L.P. Blackstone III sold 205,500 shares of the stock in a transaction dated Thursday, January 26th. The stock was sold at an average price of $33.00, for a total transaction of $6,781,500.00. Following the completion of the sale, the insider now directly owns 9,844,228 shares in the company, valued at approximately $324,859,524. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Blackstone news, major shareholder Holdings L.P. Blackstone III sold 205,500 shares of the company’s stock in a transaction that occurred on Thursday, January 26th. The stock was sold at an average price of $33.00, for a total transaction of $6,781,500.00. Following the completion of the transaction, the insider now owns 9,844,228 shares of the company’s stock, valued at approximately $324,859,524. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joseph Baratta sold 85,000 shares of the company’s stock in a transaction that occurred on Friday, February 3rd. The shares were sold at an average price of $95.94, for a total value of $8,154,900.00. Following the transaction, the director now directly owns 1,122,168 shares of the company’s stock, valued at approximately $107,660,797.92. The disclosure for this sale can be found here. Insiders sold 140,532,616 shares of company stock worth $1,726,902,967 in the last ninety days. 1.00% of the stock is owned by company insiders.

Blackstone Profile

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Blackstone, Inc engages in the provision of investment and fund management services. It operates through the following segments: Real Estate, Private Equity, Credit and Insurance, and Hedge Fund Solutions. The Real Estate segment includes management of opportunistic real estate funds, Core+ real estate funds, high-yield real estate debt funds, and liquid real estate debt funds.