Blackstone Inc. (NYSE:BX) Shares Bought by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. increased its stake in Blackstone Inc. (NYSE:BX) by 54.9% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 15,528 shares of the asset manager’s stock after buying an additional 5,503 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Blackstone were worth $1,922,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Chilton Capital Management LLC acquired a new position in shares of Blackstone in the 1st quarter worth approximately $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Blackstone in the second quarter valued at $26,000. EdgeRock Capital LLC acquired a new stake in shares of Blackstone during the 2nd quarter valued at $27,000. Bank & Trust Co purchased a new stake in shares of Blackstone in the second quarter valued at $29,000. Finally, Ridgewood Investments LLC purchased a new position in shares of Blackstone during the second quarter valued at $31,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Morgan Stanley raised their price objective on Blackstone from $144.00 to $164.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 23rd. Barclays raised their price target on Blackstone from $126.00 to $141.00 and gave the company an “equal weight” rating in a research report on Friday, July 19th. Deutsche Bank Aktiengesellschaft increased their target price on Blackstone from $145.00 to $146.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Redburn Atlantic started coverage on Blackstone in a report on Tuesday, August 27th. They set a “neutral” rating and a $134.00 price target for the company. Finally, TD Cowen upped their target price on shares of Blackstone from $114.00 to $120.00 and gave the company a “hold” rating in a research note on Friday, July 19th. Fourteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Blackstone currently has an average rating of “Hold” and a consensus target price of $130.78.

Insider Buying and Selling

In other Blackstone news, insider John G. Finley sold 35,000 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total value of $4,610,900.00. Following the sale, the insider now directly owns 429,386 shares in the company, valued at $56,567,311.64. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Joseph Baratta sold 116,448 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $123.00, for a total value of $14,323,104.00. Following the completion of the transaction, the director now owns 921,184 shares in the company, valued at $113,305,632. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John G. Finley sold 35,000 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total transaction of $4,610,900.00. Following the completion of the sale, the insider now directly owns 429,386 shares in the company, valued at $56,567,311.64. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

Blackstone Stock Performance

BX stock opened at $159.66 on Friday. The stock has a market capitalization of $114.10 billion, a PE ratio of 56.42, a price-to-earnings-growth ratio of 1.23 and a beta of 1.51. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.77 and a quick ratio of 0.77. The company has a 50 day moving average price of $139.01 and a 200 day moving average price of $129.11. Blackstone Inc. has a fifty-two week low of $88.59 and a fifty-two week high of $160.24.

Blackstone (NYSE:BX) last issued its quarterly earnings results on Thursday, July 18th. The asset manager reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.03). The firm had revenue of $3.69 billion for the quarter, compared to analyst estimates of $2.58 billion. Blackstone had a net margin of 19.35% and a return on equity of 17.43%. The company’s revenue was up 166.9% compared to the same quarter last year. During the same period last year, the company earned $0.93 EPS. Analysts forecast that Blackstone Inc. will post 4.57 EPS for the current year.

Blackstone Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Monday, July 29th were paid a $0.82 dividend. The ex-dividend date was Monday, July 29th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 2.05%. Blackstone’s dividend payout ratio (DPR) is presently 115.90%.

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.