Tokio Marine Asset Management Co. Ltd. Raises Stake in Blackstone Inc. (NYSE:BX)

Tokio Marine Asset Management Co. Ltd. lifted its position in shares of Blackstone Inc. (NYSE:BX) by 4.2% during the third quarter, Holdings Channel reports. The institutional investor owned 20,749 shares of the asset manager’s stock after purchasing an additional 840 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Blackstone were worth $3,177,000 at the end of the most recent reporting period.

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

Blackstone Stock Performance

Shares of BX stock traded up $0.90 during trading hours on Thursday, hitting $182.46. The stock had a trading volume of 158,966 shares, compared to its average volume of 3,409,404. The stock’s 50 day moving average is $159.65 and its 200 day moving average is $139.31. Blackstone Inc. has a twelve month low of $102.59 and a twelve month high of $183.96. The firm has a market capitalization of $131.74 billion, a PE ratio of 62.39, a PEG ratio of 1.55 and a beta of 1.49. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71.

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

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Monday, October 28th were given a dividend of $0.86 per share. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 annualized dividend and a dividend yield of 1.89%. The ex-dividend date was Monday, October 28th. Blackstone’s payout ratio is presently 118.21%.

Insider Activity

In related news, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $150.81, for a total transaction of $17,561,522.88. Following the completion of 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 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Blackstone news, insider John G. Finley sold 42,249 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the completion of the transaction, the insider now owns 387,137 shares of the company’s stock, valued at approximately $68,112,883.78. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Joseph Baratta sold 116,448 shares of the 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 sale, the director now directly owns 799,749 shares in the company, valued at approximately $120,610,146.69. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Wells Fargo & Company lifted their target price on Blackstone from $169.00 to $188.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. BMO Capital Markets raised their target price on shares of Blackstone from $112.00 to $134.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. Evercore ISI increased 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. Redburn Atlantic began coverage on Blackstone in a research note on Tuesday, August 27th. They set a “neutral” rating and a $134.00 target price on the stock. Finally, JPMorgan Chase & Co. boosted their price objective on Blackstone from $125.00 to $146.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $157.63.

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.