B. Metzler seel. Sohn & Co. Holding AG Acquires New Shares in Blackstone Inc. (NYSE:BX)

B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Blackstone Inc. (NYSE:BX) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 26,662 shares of the asset manager’s stock, valued at approximately $4,083,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Blackstone during the second quarter worth $26,000. EdgeRock Capital LLC purchased a new stake in Blackstone during the 2nd quarter worth about $27,000. West Financial Advisors LLC acquired a new stake in shares of Blackstone during the 3rd quarter worth about $27,000. Bank & Trust Co purchased a new position in shares of Blackstone during the second quarter valued at approximately $29,000. Finally, Ridgewood Investments LLC purchased a new stake in Blackstone in the 2nd quarter worth approximately $31,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. The Goldman Sachs Group increased their target price on Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Citigroup raised their target price on shares of Blackstone from $157.00 to $170.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Evercore ISI increased their price target on shares of Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. TD Cowen boosted their price objective on shares of Blackstone from $133.00 to $149.00 and gave the company a “hold” rating in a research note on Friday, October 18th. Finally, Piper Sandler downgraded Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 price target for the company. in a research report on Wednesday, October 9th. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $157.63.

Blackstone Trading Up 0.1 %

NYSE:BX opened at $185.03 on Thursday. Blackstone Inc. has a one year low of $105.47 and a one year high of $187.12. The business’s 50-day simple moving average is $163.95 and its 200 day simple moving average is $141.57. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71. The stock has a market cap of $133.59 billion, a price-to-earnings ratio of 63.58, a price-to-earnings-growth ratio of 1.54 and a beta of 1.49.

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

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Monday, October 28th were paid a dividend of $0.86 per share. The ex-dividend date was Monday, October 28th. This is a boost from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 annualized dividend and a yield of 1.86%. Blackstone’s dividend payout ratio (DPR) is 118.21%.

Insider Buying and Selling at Blackstone

In related news, insider John G. Finley sold 42,249 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $175.94, for a total value of $7,433,289.06. Following the sale, the insider now owns 387,137 shares of the company’s stock, valued at $68,112,883.78. This trade represents a 9.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joseph Baratta sold 116,448 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $150.81, for a total value of $17,561,522.88. Following the transaction, the director now owns 799,749 shares of the company’s stock, valued at approximately $120,610,146.69. This represents a 12.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

Blackstone 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.