101,426 Shares in Blackstone Inc. $BX Bought by CIBC Bancorp USA Inc.

CIBC Bancorp USA Inc. acquired a new stake in Blackstone Inc. (NYSE:BX) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 101,426 shares of the asset manager’s stock, valued at approximately $17,329,000.

A number of other large investors have also modified their holdings of the stock. REAP Financial Group LLC acquired a new position in Blackstone during the 3rd quarter worth approximately $26,000. Traub Capital Management LLC purchased a new stake in shares of Blackstone during the second quarter valued at approximately $27,000. Redmont Wealth Advisors LLC acquired a new position in shares of Blackstone during the third quarter worth $30,000. Strive Asset Management LLC purchased a new position in shares of Blackstone in the third quarter valued at $30,000. Finally, Kelleher Financial Advisors purchased a new stake in Blackstone during the 3rd quarter worth $34,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. TD Cowen decreased their price objective on shares of Blackstone from $183.00 to $164.00 and set a “buy” rating for the company in a research report on Thursday, February 12th. Jefferies Financial Group reduced their price target on Blackstone from $185.00 to $161.00 and set a “buy” rating for the company in a report on Tuesday, February 10th. Weiss Ratings restated a “hold (c)” rating on shares of Blackstone in a report on Wednesday, January 21st. Deutsche Bank Aktiengesellschaft increased their target price on Blackstone from $164.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday, December 17th. Finally, UBS Group dropped their price target on shares of Blackstone from $171.00 to $137.00 and set a “neutral” rating for the company in a research note on Friday, February 20th. Eleven research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $165.86.

Blackstone Trading Down 0.1%

NYSE:BX opened at $113.46 on Friday. Blackstone Inc. has a 12-month low of $101.73 and a 12-month high of $190.09. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.76 and a quick ratio of 0.76. The business has a 50 day simple moving average of $131.10 and a 200 day simple moving average of $148.91. The firm has a market capitalization of $84.21 billion, a P/E ratio of 29.24, a P/E/G ratio of 0.90 and a beta of 1.79.

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

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 17th. Shareholders of record on Monday, February 9th were given a $1.49 dividend. This is a positive change from Blackstone’s previous quarterly dividend of $1.29. The ex-dividend date was Monday, February 9th. This represents a $5.96 annualized dividend and a yield of 5.3%. Blackstone’s payout ratio is currently 153.61%.

Insider Activity

In other Blackstone news, major shareholder Holdings Iv Gp Mana Blackstone purchased 1,146,789 shares of the business’s stock in a transaction dated Monday, February 23rd. The shares were bought at an average price of $26.16 per share, with a total value of $30,000,000.24. Following the completion of the acquisition, the insider owned 16,716,249 shares in the company, valued at approximately $437,297,073.84. This represents a 7.37% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of the stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $10.00, for a total value of $15,961,420.00. The SEC filing for this sale provides additional information. Corporate insiders own 1.00% of the company’s stock.

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.