927,839 Shares of Blackstone Inc. $BX Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. acquired a new position in Blackstone Inc. (NYSE:BX) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 927,839 shares of the asset manager’s stock, valued at approximately $104,001,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in BX. Jupiter Topco LLC acquired a new position in shares of Blackstone in the second quarter worth about $221,478,000. Manning & Napier Advisors LLC acquired a new stake in shares of Blackstone during the second quarter valued at approximately $8,667,000. Sequoia Financial Advisors LLC raised its holdings in shares of Blackstone by 5.1% during the second quarter. Sequoia Financial Advisors LLC now owns 245,370 shares of the asset manager’s stock valued at $28,873,000 after acquiring an additional 11,983 shares during the period. Wedmont Private Capital lifted its position in shares of Blackstone by 82.5% in the 3rd quarter. Wedmont Private Capital now owns 23,206 shares of the asset manager’s stock valued at $2,615,000 after acquiring an additional 10,489 shares in the last quarter. Finally, Matrix Private Capital Group LLC acquired a new position in Blackstone in the 1st quarter worth approximately $1,340,000. 70.00% of the stock is owned by institutional investors and hedge funds.

Blackstone Trading Down 1.8%

NYSE:BX opened at $118.46 on Friday. The company has a market capitalization of $88.92 billion, a P/E ratio of 26.32, a P/E/G ratio of 1.51 and a beta of 1.59. The stock’s 50 day moving average price is $122.66 and its 200 day moving average price is $124.46. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.72 and a current ratio of 0.71. Blackstone Inc. has a 52 week low of $101.73 and a 52 week high of $165.14.

Blackstone (NYSE:BX) last posted its earnings results on Thursday, October 22nd. The asset manager reported $1.32 EPS for the quarter, topping the consensus estimate of $1.26 by $0.06. Blackstone had a net margin of 22.11% and a return on equity of 23.16%. The company had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.27 billion. During the same period in the previous year, the firm posted $0.80 earnings per share. The company’s revenue for the quarter was down .8% compared to the same quarter last year. On average, research analysts forecast that Blackstone Inc. will post 5.89 EPS for the current fiscal year.

Blackstone Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 9th. Investors of record on Monday, November 2nd will be paid a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend is Monday, November 2nd. This is a drop from Blackstone’s previous quarterly dividend of $1.29. Blackstone’s dividend payout ratio (DPR) is presently 114.67%.

Insider Transactions at Blackstone

In other Blackstone news, CAO David Payne sold 9,500 shares of the stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $145.23, for a total transaction of $1,379,685.00. Following the transaction, the chief accounting officer directly owned 64,448 shares of the company’s stock, valued at $9,359,783.04. This represents a 12.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 3,767,776 shares of the stock in a transaction on Monday, September 28th. The stock was sold at an average price of $2.94, for a total transaction of $11,077,261.44. Following the transaction, the insider directly owned 16,120 shares in the company, valued at $47,392.80. The trade was a 99.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders purchased 464,792 shares of company stock valued at $12,205,945 and sold 4,077,276 shares valued at $37,573,644. Company insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on BX shares. The Goldman Sachs Group reiterated a “neutral” rating and set a $128.00 price target on shares of Blackstone in a report on Thursday, October 22nd. Barclays decreased their price target on shares of Blackstone from $128.00 to $124.00 and set an “equal weight” rating for the company in a report on Thursday, October 8th. Keefe, Bruyette & Woods raised shares of Blackstone to a “hold” rating in a research report on Monday, July 20th. UBS Group upped their price objective on shares of Blackstone from $116.00 to $118.00 and gave the company a “neutral” rating in a research note on Friday, October 23rd. Finally, Credit Suisse Group set a $165.00 target price on shares of Blackstone in a research report on Friday, October 23rd. Thirteen equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $144.57.

Blackstone Profile

Blackstone Inc (NYSE:BX) is a global alternative asset management firm that provides investment and advisory services to institutional investors, companies, and qualified individual investors. The company manages capital across private equity, real estate, credit and insurance, infrastructure, hedge fund solutions, secondaries, and growth-oriented investments.

Blackstone invests in and manages portfolios of businesses, properties, infrastructure assets, and credit instruments across a range of industries.