OVERSEA CHINESE BANKING Corp Ltd Purchases Shares of 1,602 Blackstone Inc. (NYSE:BX)

OVERSEA CHINESE BANKING Corp Ltd bought a new position in shares of Blackstone Inc. (NYSE:BX) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,602 shares of the asset manager’s stock, valued at approximately $245,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in Blackstone by 2.0% during the first quarter. Vanguard Group Inc. now owns 64,262,972 shares of the asset manager’s stock valued at $8,442,227,000 after buying an additional 1,290,324 shares during the period. Capital World Investors lifted its position in shares of Blackstone by 7.5% in the first quarter. Capital World Investors now owns 36,285,872 shares of the asset manager’s stock worth $4,766,875,000 after purchasing an additional 2,546,886 shares in the last quarter. Wulff Hansen & CO. grew its position in Blackstone by 12,192.7% during the second quarter. Wulff Hansen & CO. now owns 7,340,845 shares of the asset manager’s stock valued at $908,797,000 after purchasing an additional 7,281,128 shares in the last quarter. Legal & General Group Plc increased its stake in Blackstone by 2.3% in the 2nd quarter. Legal & General Group Plc now owns 6,266,207 shares of the asset manager’s stock valued at $775,758,000 after buying an additional 141,616 shares during the period. Finally, Janus Henderson Group PLC boosted its stake in shares of Blackstone by 0.5% during the 1st quarter. Janus Henderson Group PLC now owns 4,670,645 shares of the asset manager’s stock valued at $613,581,000 after buying an additional 21,450 shares during the period. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Activity at Blackstone

In related news, insider John G. Finley sold 42,249 shares of the business’s stock in a transaction on 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 sale, the insider now owns 387,137 shares of the company’s stock, valued at $68,112,883.78. The trade was a 9.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total value of $17,561,522.88. Following the transaction, the director now directly owns 799,749 shares of the company’s stock, valued at approximately $120,610,146.69. The trade was 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 currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on BX. Deutsche Bank Aktiengesellschaft lifted their price objective on Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a research report on Monday. UBS Group boosted their price target on Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Citigroup raised their price objective on shares of Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Cowen restated a “hold” rating on shares of Blackstone in a research note on Friday, October 18th. Finally, Barclays lifted their price objective on shares of Blackstone from $155.00 to $174.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Thirteen 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, the stock currently has an average rating of “Hold” and a consensus price target of $157.63.

Blackstone Stock Down 0.2 %

BX opened at $181.21 on Friday. Blackstone Inc. has a 1-year low of $102.59 and a 1-year high of $184.34. The business has a 50 day moving average of $159.65 and a 200-day moving average of $139.31. The stock has a market capitalization of $130.83 billion, a price-to-earnings ratio of 62.27, a P/E/G ratio of 1.55 and a beta of 1.49. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58.

Blackstone (NYSE:BX) last posted its quarterly earnings data 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 company had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.37 billion. As a group, sell-side analysts anticipate that Blackstone Inc. will post 4.39 earnings per share for the current year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Monday, October 28th were given 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 dividend on an annualized basis and a dividend yield of 1.90%. Blackstone’s payout ratio is currently 118.21%.

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.