B. Metzler seel. Sohn & Co. Holding AG Invests $4.08 Million in Blackstone Inc. (NYSE:BX)

B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Blackstone Inc. (NYSE:BX) during the 3rd quarter, HoldingsChannel reports. The firm purchased 26,662 shares of the asset manager’s stock, valued at approximately $4,083,000.

Several other large investors also recently made changes to their positions in BX. Wulff Hansen & CO. raised its position in shares of Blackstone by 12,192.7% during the second quarter. Wulff Hansen & CO. now owns 7,340,845 shares of the asset manager’s stock worth $908,797,000 after purchasing an additional 7,281,128 shares during the period. International Assets Investment Management LLC lifted its stake in Blackstone by 15,357.3% during the third quarter. International Assets Investment Management LLC now owns 4,201,150 shares of the asset manager’s stock valued at $6,433,220,000 after buying an additional 4,173,971 shares in the last quarter. Lazard Asset Management LLC increased its position in shares of Blackstone by 19,048.1% in the first quarter. Lazard Asset Management LLC now owns 1,883,409 shares of the asset manager’s stock worth $247,423,000 after acquiring an additional 1,873,573 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Blackstone by 213.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,375,969 shares of the asset manager’s stock valued at $170,345,000 after acquiring an additional 937,084 shares in the last quarter. Finally, Mackenzie Financial Corp grew its position in Blackstone by 468.4% during the 2nd quarter. Mackenzie Financial Corp now owns 1,107,547 shares of the asset manager’s stock worth $137,114,000 after purchasing an additional 912,685 shares in the last quarter. Institutional investors own 70.00% of the company’s stock.

Analyst Upgrades and Downgrades

BX has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft raised their target price on Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. BMO Capital Markets lifted their target price on Blackstone from $112.00 to $134.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. Piper Sandler cut shares of Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 price target for the company. in a report on Wednesday, October 9th. Cowen reiterated a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. Finally, The Goldman Sachs Group raised their price objective on shares of Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Thirteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $157.63.

Blackstone Stock Performance

Shares of NYSE BX opened at $185.03 on Thursday. Blackstone Inc. has a 12 month low of $105.47 and a 12 month high of $187.12. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. The company has a market cap of $133.59 billion, a P/E ratio of 63.58, a P/E/G ratio of 1.54 and a beta of 1.49. The business’s 50 day moving average is $163.95 and its two-hundred day moving average is $141.57.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Thursday, October 17th. The asset manager reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.10. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. The company had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.37 billion. On average, equities analysts expect that Blackstone Inc. will post 4.39 EPS for the current year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Monday, October 28th were given a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a yield of 1.86%. This is a boost from Blackstone’s previous quarterly dividend of $0.82. The ex-dividend date was Monday, October 28th. Blackstone’s dividend payout ratio is 118.21%.

Insider Buying and Selling at Blackstone

In other Blackstone news, insider John G. Finley sold 42,249 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $175.94, for a total value of $7,433,289.06. Following the completion of the sale, the insider now owns 387,137 shares in the company, valued at approximately $68,112,883.78. This trade represents a 9.84 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Joseph Baratta sold 116,448 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was 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 in the company, valued at approximately $120,610,146.69. This represents a 12.71 % decrease in their position. The disclosure for this sale can be found here. Company 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.