Mercer Global Advisors Inc. ADV raised its stake in shares of Blackstone Inc. (NYSE:BX – Get Rating) by 23.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 31,079 shares of the asset manager’s stock after buying an additional 5,897 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Blackstone were worth $4,021,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Marshall Wace LLP purchased a new position in shares of Blackstone in the 1st quarter valued at about $50,000. Morgan Stanley increased its stake in shares of Blackstone by 9.0% in the 2nd quarter. Morgan Stanley now owns 20,477,273 shares of the asset manager’s stock valued at $1,989,163,000 after purchasing an additional 1,691,281 shares in the last quarter. Jag Capital Management LLC increased its stake in shares of Blackstone by 12.1% in the 3rd quarter. Jag Capital Management LLC now owns 29,982 shares of the asset manager’s stock valued at $3,488,000 after purchasing an additional 3,244 shares in the last quarter. Signaturefd LLC increased its stake in shares of Blackstone by 20.8% in the 3rd quarter. Signaturefd LLC now owns 5,536 shares of the asset manager’s stock valued at $644,000 after purchasing an additional 955 shares in the last quarter. Finally, Vontobel Holding Ltd. increased its stake in shares of Blackstone by 163.8% in the 3rd quarter. Vontobel Holding Ltd. now owns 45,493 shares of the asset manager’s stock valued at $5,292,000 after purchasing an additional 28,248 shares in the last quarter. Institutional investors and hedge funds own 61.09% of the company’s stock.
In related news, major shareholder Holdings L.P. Blackstone III sold 52,900 shares of the stock in a transaction dated Tuesday, March 1st. The stock was sold at an average price of $61.23, for a total transaction of $3,239,067.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John G. Finley sold 30,000 shares of the stock in a transaction dated Wednesday, February 2nd. The stock was sold at an average price of $137.38, for a total value of $4,121,400.00. The disclosure for this sale can be found here. Insiders sold 878,452 shares of company stock worth $55,879,978 over the last quarter. 1.00% of the stock is currently owned by insiders.
Blackstone (NYSE:BX – Get Rating) last released its quarterly earnings data on Thursday, January 27th. The asset manager reported $1.71 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.37. Blackstone had a return on equity of 17.72% and a net margin of 25.94%. The firm had revenue of $4.46 billion for the quarter, compared to analysts’ expectations of $3.12 billion. During the same period in the prior year, the firm posted $1.13 earnings per share. The firm’s quarterly revenue was up 59.0% on a year-over-year basis. Analysts expect that Blackstone Inc. will post 5.44 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 14th. Investors of record on Monday, February 7th were issued a $1.45 dividend. The ex-dividend date was Friday, February 4th. This is a boost from Blackstone’s previous quarterly dividend of $1.03. This represents a $5.80 dividend on an annualized basis and a yield of 4.95%. Blackstone’s dividend payout ratio is currently 71.25%.
Several research firms have commented on BX. Morgan Stanley boosted their price objective on Blackstone from $165.00 to $166.00 and gave the stock an “overweight” rating in a research note on Monday, January 31st. Jefferies Financial Group reiterated a “buy” rating and set a $155.00 price objective on shares of Blackstone in a research note on Wednesday, April 13th. Wells Fargo & Company cut their price objective on Blackstone from $124.00 to $120.00 and set an “equal weight” rating for the company in a research note on Tuesday. BNP Paribas lowered Blackstone from an “outperform” rating to a “neutral” rating and set a $135.00 price objective for the company. in a research note on Thursday, April 7th. Finally, Zacks Investment Research upgraded Blackstone from a “sell” rating to a “hold” rating and set a $125.00 price objective for the company in a research note on Thursday, April 7th. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $134.17.
Blackstone Company Profile (Get Rating)
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.
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