TD Waterhouse Canada Inc. Buys 16,064 Shares of Blackstone Inc. $BX

TD Waterhouse Canada Inc. lifted its stake in Blackstone Inc. (NYSE:BX) by 7.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 220,421 shares of the asset manager’s stock after buying an additional 16,064 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Blackstone were worth $37,085,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of BX. Vanguard Group Inc. increased its position in shares of Blackstone by 2.2% during the second quarter. Vanguard Group Inc. now owns 69,492,377 shares of the asset manager’s stock valued at $10,394,670,000 after acquiring an additional 1,494,796 shares in the last quarter. Geode Capital Management LLC boosted its stake in Blackstone by 1.4% during the 2nd quarter. Geode Capital Management LLC now owns 16,542,863 shares of the asset manager’s stock valued at $2,462,706,000 after purchasing an additional 227,416 shares during the last quarter. Norges Bank purchased a new position in shares of Blackstone in the second quarter worth $1,071,348,000. Legal & General Group Plc boosted its position in shares of Blackstone by 4.7% during the second quarter. Legal & General Group Plc now owns 4,532,941 shares of the asset manager’s stock valued at $678,037,000 after buying an additional 202,245 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Blackstone by 0.9% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 4,200,194 shares of the asset manager’s stock worth $628,265,000 after buying an additional 37,327 shares in the last quarter. 70.00% of the stock is owned by hedge funds and other institutional investors.

Blackstone Stock Performance

NYSE:BX opened at $146.64 on Thursday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 0.75. The stock has a 50-day simple moving average of $152.95 and a two-hundred day simple moving average of $161.08. The firm has a market capitalization of $108.28 billion, a PE ratio of 41.90, a P/E/G ratio of 1.05 and a beta of 1.75. Blackstone Inc. has a 52-week low of $115.66 and a 52-week high of $190.09.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, January 29th. The asset manager reported $1.75 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.23. The firm had revenue of $4.36 billion for the quarter, compared to analysts’ expectations of $3.69 billion. Blackstone had a return on equity of 22.30% and a net margin of 20.56%. Analysts forecast that Blackstone Inc. will post 5.87 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on BX shares. JMP Securities reiterated a “market outperform” rating and issued a $195.00 price target on shares of Blackstone in a research note on Friday, October 24th. HSBC cut their target price on shares of Blackstone from $178.00 to $174.00 and set a “hold” rating for the company in a research report on Wednesday. Keefe, Bruyette & Woods dropped their price target on Blackstone from $180.00 to $171.00 and set a “market perform” rating on the stock in a research note on Monday, October 13th. Evercore ISI reduced their price objective on Blackstone from $197.00 to $180.00 and set an “outperform” rating for the company in a research report on Wednesday, October 22nd. Finally, The Goldman Sachs Group raised their target price on Blackstone from $173.00 to $174.00 and gave the stock a “neutral” rating in a research report on Friday, October 24th. Nine research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $177.05.

Insider Activity

In other Blackstone news, Director Ruth Porat bought 324 shares of the business’s stock in a transaction that occurred on Monday, November 10th. The stock was purchased at an average price of $146.92 per share, for a total transaction of $47,602.08. Following the completion of the transaction, the director owned 39,077 shares of the company’s stock, valued at $5,741,192.84. This trade represents a 0.84% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Holdings Iv Gp Mana Blackstone purchased 384,468 shares of the company’s stock in a transaction on Friday, December 19th. The stock was acquired at an average price of $26.01 per share, with a total value of $10,000,012.68. Following the completion of the purchase, the insider directly owned 16,525,117 shares in the company, valued at $429,818,293.17. This trade represents a 2.38% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have bought 783,978 shares of company stock valued at $22,058,454 over the last 90 days. Company 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.