Tokio Marine Asset Management Co. Ltd. Buys 1,112 Shares of Blackstone Inc. (NYSE:BX)

Tokio Marine Asset Management Co. Ltd. increased its position in Blackstone Inc. (NYSE:BX) by 6.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 17,228 shares of the asset manager’s stock after buying an additional 1,112 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Blackstone were worth $2,255,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of BX. Bourgeon Capital Management LLC lifted its stake in Blackstone by 86.2% in the 4th quarter. Bourgeon Capital Management LLC now owns 216 shares of the asset manager’s stock worth $28,000 after purchasing an additional 100 shares in the last quarter. Roble Belko & Company Inc purchased a new stake in Blackstone in the 4th quarter worth $30,000. Exchange Traded Concepts LLC lifted its stake in Blackstone by 763.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 233 shares of the asset manager’s stock worth $31,000 after purchasing an additional 206 shares in the last quarter. Family CFO Inc purchased a new stake in shares of Blackstone during the 3rd quarter valued at about $33,000. Finally, Bruce G. Allen Investments LLC purchased a new stake in shares of Blackstone during the 4th quarter valued at about $33,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Wells Fargo & Company upped their target price on shares of Blackstone from $127.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday, January 22nd. TD Cowen cut their price target on shares of Blackstone from $117.00 to $114.00 and set a “hold” rating on the stock in a report on Friday, April 19th. TheStreet downgraded shares of Blackstone from a “b” rating to a “c+” rating in a report on Thursday, January 25th. Bank of America dropped their price objective on shares of Blackstone from $141.00 to $132.00 and set a “buy” rating on the stock in a research note on Friday, April 19th. Finally, Citigroup cut shares of Blackstone from a “buy” rating to a “neutral” rating and increased their target price for the company from $116.00 to $124.00 in a research report on Friday, January 19th. Thirteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $123.65.

Insiders Place Their Bets

In other news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the company’s stock in a transaction on Sunday, March 3rd. The shares were sold at an average price of $11.10, for a total value of $27,853,407.60. Following the completion of the transaction, the insider now owns 12,802 shares in the company, valued at approximately $142,102.20. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Blackstone news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the company’s stock in a transaction on Sunday, March 3rd. The shares were sold at an average price of $11.10, for a total transaction of $27,853,407.60. Following the completion of the transaction, the insider now owns 12,802 shares in the company, valued at approximately $142,102.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Reginald J. Brown acquired 2,400 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were purchased at an average price of $125.62 per share, with a total value of $301,488.00. Following the transaction, the director now owns 16,949 shares in the company, valued at approximately $2,129,133.38. The disclosure for this purchase can be found here. Insiders sold 2,587,168 shares of company stock worth $37,816,476 in the last 90 days. Corporate insiders own 1.00% of the company’s stock.

Blackstone Price Performance

Shares of NYSE BX traded down $0.84 during trading on Thursday, hitting $122.94. The company had a trading volume of 1,758,365 shares, compared to its average volume of 3,669,043. The stock has a fifty day simple moving average of $126.21 and a two-hundred day simple moving average of $118.24. Blackstone Inc. has a fifty-two week low of $79.92 and a fifty-two week high of $133.56. The firm has a market capitalization of $87.86 billion, a price-to-earnings ratio of 43.08, a price-to-earnings-growth ratio of 1.03 and a beta of 1.51. The company has a quick ratio of 0.80, a current ratio of 0.79 and a debt-to-equity ratio of 0.61.

Blackstone (NYSE:BX) last posted its quarterly earnings results on Thursday, April 18th. The asset manager reported $0.98 earnings per share for the quarter, hitting the consensus estimate of $0.98. Blackstone had a net margin of 20.84% and a return on equity of 17.33%. The firm had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same period last year, the firm posted $0.97 earnings per share. The company’s revenue for the quarter was up 166.9% on a year-over-year basis. On average, research analysts expect that Blackstone Inc. will post 4.77 earnings per share for the current year.

Blackstone Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 6th. Shareholders of record on Monday, April 29th will be issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 2.70%. The ex-dividend date is Friday, April 26th. Blackstone’s dividend payout ratio (DPR) is presently 132.86%.

Blackstone Company Profile

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.