CIBC Asset Management Inc Has $26.40 Million Stock Holdings in Blackstone Inc. (NYSE:BX)

CIBC Asset Management Inc boosted its position in shares of Blackstone Inc. (NYSE:BX) by 5.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 172,369 shares of the asset manager’s stock after acquiring an additional 9,007 shares during the period. CIBC Asset Management Inc’s holdings in Blackstone were worth $26,395,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of BX. West Financial Advisors LLC acquired a new stake in shares of Blackstone during the 3rd quarter valued at about $27,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Blackstone during the 2nd quarter worth approximately $26,000. EdgeRock Capital LLC bought a new stake in Blackstone in the second quarter valued at $27,000. Bank & Trust Co bought a new position in shares of Blackstone during the second quarter valued at $29,000. Finally, Ridgewood Investments LLC acquired a new stake in shares of Blackstone during the 2nd quarter worth about $31,000. 70.00% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider John G. Finley sold 42,249 shares of Blackstone stock in a transaction dated 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 in the company, valued at approximately $68,112,883.78. This trade represents a 9.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Joseph Baratta sold 116,448 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, 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 owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Wells Fargo & Company raised their price objective on shares of Blackstone from $169.00 to $188.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Evercore ISI upped their price target 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. The Goldman Sachs Group increased their price target on shares of Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. JPMorgan Chase & Co. boosted their target price on Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Finally, TD Cowen lifted their price objective on Blackstone from $133.00 to $149.00 and gave the stock a “hold” rating in a research report on Friday, October 18th. Thirteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $157.63.

Blackstone Trading Up 0.1 %

NYSE:BX opened at $181.36 on Friday. The business’s 50-day simple moving average is $160.51 and its 200-day simple moving average is $139.60. 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 Inc. has a fifty-two week low of $102.79 and a fifty-two week high of $184.34. The stock has a market capitalization of $130.94 billion, a PE ratio of 62.32, a price-to-earnings-growth ratio of 1.55 and a beta of 1.49.

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 analysts’ consensus estimates of $0.91 by $0.10. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. The business had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.37 billion. Sell-side analysts expect that Blackstone Inc. will post 4.39 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The firm also recently declared 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. The ex-dividend date of this dividend was Monday, October 28th. This is a boost from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 annualized dividend and a yield of 1.90%. Blackstone’s payout ratio is 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.