Tokio Marine Asset Management Co. Ltd. Buys 1,637 Shares of Blackstone Inc. (NYSE:BX)

Tokio Marine Asset Management Co. Ltd. grew its holdings in Blackstone Inc. (NYSE:BXFree Report) by 9.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,865 shares of the asset manager’s stock after purchasing an additional 1,637 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Blackstone were worth $2,478,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Bay Rivers Group lifted its position in Blackstone by 0.4% during the first quarter. Bay Rivers Group now owns 19,853 shares of the asset manager’s stock worth $2,608,000 after purchasing an additional 84 shares during the period. BSW Wealth Partners raised its stake in Blackstone by 1.9% during the first quarter. BSW Wealth Partners now owns 4,556 shares of the asset manager’s stock worth $599,000 after acquiring an additional 84 shares in the last quarter. Mather Group LLC. raised its stake in Blackstone by 1.2% during the first quarter. Mather Group LLC. now owns 7,113 shares of the asset manager’s stock worth $931,000 after acquiring an additional 87 shares in the last quarter. Fragasso Group Inc. increased its stake in shares of Blackstone by 2.9% in the first quarter. Fragasso Group Inc. now owns 3,255 shares of the asset manager’s stock valued at $428,000 after buying an additional 91 shares during the period. Finally, Nations Financial Group Inc. IA ADV increased its stake in shares of Blackstone by 0.6% in the first quarter. Nations Financial Group Inc. IA ADV now owns 15,585 shares of the asset manager’s stock valued at $2,047,000 after buying an additional 93 shares during the period. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have issued reports on BX shares. Morgan Stanley raised their price target on shares of Blackstone from $144.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, April 17th. JMP Securities reaffirmed a “market perform” rating on shares of Blackstone in a research report on Tuesday, April 9th. Bank of America reduced their price objective on shares of Blackstone from $141.00 to $132.00 and set a “buy” rating for the company in a research report on Friday, April 19th. Argus lifted their price target on shares of Blackstone from $133.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Finally, Barclays reissued an “equal weight” rating and issued a $125.00 price target (down previously from $129.00) on shares of Blackstone in a research report on Friday, April 19th. Thirteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $123.65.

Check Out Our Latest Research Report on BX

Blackstone Price Performance

Shares of Blackstone stock opened at $122.80 on Monday. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.61. The company has a market cap of $87.76 billion, a PE ratio of 43.36, a P/E/G ratio of 1.03 and a beta of 1.50. The business has a 50 day moving average of $122.36 and a 200 day moving average of $124.37. Blackstone Inc. has a 52 week low of $88.59 and a 52 week high of $133.56.

Blackstone (NYSE:BXGet Free Report) last posted its quarterly earnings data on Thursday, April 18th. The asset manager reported $0.98 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.98. The business had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $2.56 billion. Blackstone had a return on equity of 17.33% and a net margin of 20.84%. The firm’s quarterly revenue was up 166.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.97 earnings per share. As a group, equities research analysts forecast that Blackstone Inc. will post 4.77 earnings per share for the current year.

Blackstone Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 6th. Investors of record on Monday, April 29th were given a dividend of $0.83 per share. The ex-dividend date of this dividend was Friday, April 26th. This represents a $3.32 annualized dividend and a dividend yield of 2.70%. Blackstone’s dividend payout ratio (DPR) is presently 117.31%.

Insider Activity at Blackstone

In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $123.00, for a total value of $14,323,104.00. Following the transaction, the director now directly owns 921,184 shares of the company’s stock, valued at $113,305,632. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Blackstone news, Director Ruth Porat acquired 219 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was bought at an average price of $119.48 per share, for a total transaction of $26,166.12. Following the acquisition, the director now directly owns 34,445 shares in the company, valued at $4,115,488.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $123.00, for a total value of $14,323,104.00. Following the sale, the director now directly owns 921,184 shares of the company’s stock, valued at $113,305,632. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.

Blackstone Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Blackstone (NYSE:BX)

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