Blackstone Inc. (NYSE:BX) Shares Acquired by CIBC Asset Management Inc

CIBC Asset Management Inc increased its holdings in shares of Blackstone Inc. (NYSE:BX) by 5.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 172,369 shares of the asset manager’s stock after purchasing an additional 9,007 shares during the period. CIBC Asset Management Inc’s holdings in Blackstone were worth $26,395,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in BX. Intellectus Partners LLC boosted its stake in Blackstone by 5.2% during the 3rd quarter. Intellectus Partners LLC now owns 17,414 shares of the asset manager’s stock worth $2,667,000 after purchasing an additional 857 shares during the last quarter. OneDigital Investment Advisors LLC raised its holdings in shares of Blackstone by 4.3% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 34,999 shares of the asset manager’s stock valued at $5,359,000 after buying an additional 1,433 shares during the period. Kapstone Financial Advisors LLC acquired a new position in shares of Blackstone in the third quarter valued at approximately $250,000. Tokio Marine Asset Management Co. Ltd. grew its stake in Blackstone by 4.2% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 20,749 shares of the asset manager’s stock worth $3,177,000 after purchasing an additional 840 shares in the last quarter. Finally, Metis Global Partners LLC increased its holdings in Blackstone by 3.9% in the third quarter. Metis Global Partners LLC now owns 28,027 shares of the asset manager’s stock valued at $4,292,000 after buying an additional 1,058 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BX has been the subject of a number of research analyst reports. Barclays upped their target price on Blackstone from $155.00 to $174.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Evercore ISI boosted their price objective on shares of Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Citigroup lifted their price target on shares of Blackstone from $157.00 to $170.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Piper Sandler cut shares of Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 price objective for the company. in a research note on Wednesday, October 9th. Finally, UBS Group increased their price objective on shares of Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Thirteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $157.63.

Blackstone Stock Performance

BX stock opened at $181.36 on Friday. The company has a 50-day simple moving average of $160.51 and a 200 day simple moving average of $139.60. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $130.94 billion, a P/E ratio of 62.32, a PEG ratio of 1.55 and a beta of 1.49. Blackstone Inc. has a fifty-two week low of $102.79 and a fifty-two week high of $184.34.

Blackstone (NYSE:BX) last posted its quarterly earnings results on Thursday, October 17th. The asset manager reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.10. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. The firm had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.37 billion. Sell-side analysts predict that Blackstone Inc. will post 4.39 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Monday, October 28th were issued a dividend of $0.86 per share. This is a boost from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend was Monday, October 28th. Blackstone’s dividend payout ratio (DPR) is currently 118.21%.

Insiders Place Their Bets

In other Blackstone news, insider John G. Finley sold 42,249 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $175.94, for a total value of $7,433,289.06. Following the transaction, the insider now directly owns 387,137 shares of the company’s stock, valued at $68,112,883.78. This represents a 9.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Joseph Baratta sold 116,448 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total transaction of $17,561,522.88. Following the transaction, the director now directly owns 799,749 shares in the company, valued at approximately $120,610,146.69. The trade was a 12.71 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

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.