Blackstone Inc. (NYSE:BX) Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. increased its position in shares of Blackstone Inc. (NYSE:BX) by 0.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,853,724 shares of the asset manager’s stock after buying an additional 27,955 shares during the period. Charles Schwab Investment Management Inc. owned about 2.09% of Blackstone worth $1,944,650,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of BX. Vanguard Group Inc. lifted its holdings in shares of Blackstone by 30.2% in the 3rd quarter. Vanguard Group Inc. now owns 62,091,903 shares of the asset manager’s stock valued at $6,652,526,000 after buying an additional 14,396,655 shares during the period. International Assets Investment Management LLC raised its position in Blackstone by 13,816.5% during the fourth quarter. International Assets Investment Management LLC now owns 3,623,868 shares of the asset manager’s stock worth $4,744,370,000 after acquiring an additional 3,597,828 shares during the last quarter. Northern Trust Corp lifted its stake in Blackstone by 43.9% in the 3rd quarter. Northern Trust Corp now owns 6,877,288 shares of the asset manager’s stock valued at $736,833,000 after buying an additional 2,098,150 shares in the last quarter. Invesco Ltd. raised its position in shares of Blackstone by 255.2% in the third quarter. Invesco Ltd. now owns 2,698,085 shares of the asset manager’s stock valued at $289,073,000 after buying an additional 1,938,593 shares during the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC purchased a new position in shares of Blackstone during the 3rd quarter worth $190,920,000. 70.00% of the stock is owned by hedge funds and other institutional investors.

Blackstone Stock Down 1.5 %

Shares of NYSE:BX traded down $1.79 during trading on Wednesday, hitting $119.71. 1,252,413 shares of the company were exchanged, compared to its average volume of 3,655,194. The stock has a market cap of $85.55 billion, a price-to-earnings ratio of 42.19, a P/E/G ratio of 0.98 and a beta of 1.52. Blackstone Inc. has a fifty-two week low of $80.05 and a fifty-two week high of $133.56. The firm has a fifty day moving average price of $124.96 and a two-hundred day moving average price of $119.45. The company has a current ratio of 0.79, a quick ratio of 0.80 and a debt-to-equity ratio of 0.61.

Blackstone (NYSE:BX) last issued its quarterly earnings data on Thursday, April 18th. The asset manager reported $0.98 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.98. The company had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $2.56 billion. Blackstone had a return on equity of 17.33% and a net margin of 20.84%. The business’s revenue was up 166.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.97 earnings per share. As a group, research analysts anticipate that Blackstone Inc. will post 4.77 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 6th. Investors of record on Monday, April 29th were paid a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 2.77%. The ex-dividend date of this dividend was Friday, April 26th. Blackstone’s payout ratio is 117.31%.

Wall Street Analysts Forecast Growth

BX has been the subject of a number of recent analyst reports. Argus raised their price target on shares of Blackstone from $133.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. JMP Securities reaffirmed a “market perform” rating on shares of Blackstone in a research report on Tuesday, April 9th. Bank of America dropped their target price on shares of Blackstone from $141.00 to $132.00 and set a “buy” rating on the stock in a report on Friday, April 19th. Morgan Stanley increased their price target on Blackstone from $144.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 17th. Finally, TD Cowen lowered their price target on shares of Blackstone from $117.00 to $114.00 and set a “hold” rating for the company in a research report on Friday, April 19th. Thirteen research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $123.65.

Insider Buying and Selling at Blackstone

In other news, Director Ruth Porat purchased 232 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were acquired at an average cost of $127.08 per share, for a total transaction of $29,482.56. Following the completion of the acquisition, the director now owns 34,225 shares in the company, valued at $4,349,313. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the business’s stock in a transaction on Sunday, March 3rd. The stock was sold at an average price of $11.10, for a total transaction of $27,853,407.60. Following the sale, the insider now directly owns 12,802 shares in the company, valued at approximately $142,102.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ruth Porat bought 232 shares of the stock in a transaction on Monday, February 12th. The stock was purchased at an average price of $127.08 per share, for a total transaction of $29,482.56. Following the completion of the purchase, the director now directly owns 34,225 shares in the company, valued at $4,349,313. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 2,587,168 shares of company stock worth $37,816,476. Insiders own 1.00% of the company’s stock.

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.