TD Asset Management Inc Has $44 Million Position in Blackstone Inc. $BX

TD Asset Management Inc boosted its holdings in Blackstone Inc. (NYSE:BXFree Report) by 5.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 285,482 shares of the asset manager’s stock after buying an additional 14,150 shares during the period. TD Asset Management Inc’s holdings in Blackstone were worth $44,004,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Blackstone by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 71,667,695 shares of the asset manager’s stock worth $11,046,859,000 after buying an additional 840,258 shares during the period. State Street Corp increased its position in Blackstone by 1.3% in the 3rd quarter. State Street Corp now owns 31,362,796 shares of the asset manager’s stock worth $5,358,334,000 after buying an additional 412,281 shares during the period. Norges Bank bought a new position in Blackstone in the 4th quarter worth approximately $1,275,747,000. Northern Trust Corp increased its position in Blackstone by 4.7% in the 3rd quarter. Northern Trust Corp now owns 7,324,989 shares of the asset manager’s stock worth $1,251,474,000 after buying an additional 329,379 shares during the period. Finally, Legal & General Group Plc increased its position in Blackstone by 3.2% in the 3rd quarter. Legal & General Group Plc now owns 4,677,997 shares of the asset manager’s stock worth $799,236,000 after buying an additional 145,056 shares during the period. 70.00% of the stock is owned by institutional investors.

Blackstone Price Performance

Blackstone stock opened at $115.40 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.76 and a current ratio of 0.76. Blackstone Inc. has a 52 week low of $101.73 and a 52 week high of $190.09. The firm has a market cap of $85.73 billion, a P/E ratio of 29.51, a P/E/G ratio of 1.25 and a beta of 1.59. The business’s fifty day moving average is $119.22 and its two-hundred day moving average is $131.72.

Blackstone (NYSE:BXGet Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The asset manager reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.02. The business had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.45 billion. Blackstone had a return on equity of 22.86% and a net margin of 20.67%.The firm’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.11 earnings per share. Equities research analysts forecast that Blackstone Inc. will post 5.9 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 11th. Stockholders of record on Monday, May 4th were given a dividend of $1.16 per share. The ex-dividend date of this dividend was Monday, May 4th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 4.0%. Blackstone’s dividend payout ratio (DPR) is currently 118.67%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on BX shares. BMO Capital Markets boosted their price objective on Blackstone from $126.00 to $132.00 and gave the company an “outperform” rating in a research report on Monday, April 13th. Zacks Research cut Blackstone from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 29th. UBS Group lowered their price objective on Blackstone from $171.00 to $137.00 and set a “neutral” rating on the stock in a research report on Friday, February 20th. Citizens Jmp lowered their price objective on Blackstone from $195.00 to $190.00 and set a “market outperform” rating on the stock in a research report on Wednesday, April 22nd. Finally, The Goldman Sachs Group lowered their price target on Blackstone from $118.00 to $116.00 and set a “neutral” rating on the stock in a research report on Friday, April 24th. Twelve equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $151.05.

Read Our Latest Analysis on Blackstone

Insider Activity at Blackstone

In other Blackstone news, major shareholder Holdings Iv Gp Mana Blackstone purchased 2,868,069 shares of the company’s stock in a transaction dated Friday, March 20th. The shares were bought at an average price of $26.15 per share, with a total value of $75,000,004.35. Following the completion of the transaction, the insider directly owned 18,628,295 shares in the company, valued at $487,129,914.25. This trade represents a 18.20% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,504 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $3.51, for a total value of $26,246,039.04. Following the sale, the insider directly owned 25,832 shares in the company, valued at approximately $90,670.32. This represents a 99.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have acquired a total of 12,355,303 shares of company stock valued at $264,789,896 over the last 90 days. Insiders own 1.00% of the company’s stock.

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Blackstone Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Blackstone (NYSE:BX)

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