Rakuten Investment Management Inc. Has $15.06 Million Stock Holdings in Blackstone Inc. $BX

Rakuten Investment Management Inc. boosted its holdings in Blackstone Inc. (NYSE:BX) by 667.5% during the 4th quarter, Holdings Channel.com reports. The fund owned 97,085 shares of the asset manager’s stock after purchasing an additional 84,436 shares during the quarter. Rakuten Investment Management Inc.’s holdings in Blackstone were worth $15,061,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in BX. Family CFO Inc bought a new position in Blackstone in the 4th quarter valued at about $28,000. Ares Financial Consulting LLC bought a new position in Blackstone in the 4th quarter valued at about $28,000. Richardson Financial Services Inc. bought a new position in Blackstone in the 4th quarter valued at about $29,000. Redmont Wealth Advisors LLC purchased a new stake in Blackstone in the 3rd quarter valued at about $30,000. Finally, Strive Asset Management LLC purchased a new position in shares of Blackstone in the 3rd quarter worth approximately $30,000. Institutional investors own 70.00% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on BX. Zacks Research raised Blackstone from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th. Jefferies Financial Group increased their price target on Blackstone from $143.00 to $152.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Rothschild & Co Redburn decreased their price target on shares of Blackstone from $134.00 to $130.00 and set a “neutral” rating for the company in a research note on Tuesday, June 9th. Argus reduced their price objective on Blackstone from $163.00 to $146.00 and set a “buy” rating for the company in a report on Tuesday, April 28th. Finally, Barclays lowered their target price on Blackstone from $126.00 to $124.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 8th. Thirteen analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $150.86.

Blackstone Stock Up 1.5%

Blackstone stock opened at $124.59 on Tuesday. Blackstone Inc. has a 1-year low of $101.73 and a 1-year high of $190.09. The firm has a market capitalization of $92.55 billion, a price-to-earnings ratio of 31.86, a P/E/G ratio of 1.33 and a beta of 1.59. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.66. The firm has a 50 day simple moving average of $120.21 and a 200 day simple moving average of $130.82.

Blackstone (NYSE:BX) last released its quarterly earnings data on Thursday, April 23rd. The asset manager reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.02. Blackstone had a net margin of 20.67% and a return on equity of 22.86%. The business had revenue of $3.43 billion during the quarter, compared to analyst estimates of $3.45 billion. During the same period in the previous year, the business earned $1.11 EPS. Blackstone’s revenue was up 10.0% compared to the same quarter last year. On average, analysts predict that Blackstone Inc. will post 5.9 earnings per share for the current year.

Blackstone Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 11th. Investors of record on Monday, May 4th were paid a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date was Monday, May 4th. Blackstone’s payout ratio is currently 118.67%.

Insider Buying and Selling at Blackstone

In other Blackstone news, major shareholder Treasury Holdings I. Blackstone acquired 9,486,795 shares of Blackstone stock in a transaction that occurred on Friday, May 15th. The stock was acquired at an average cost of $20.00 per share, for a total transaction of $189,735,900.00. Following the purchase, the insider owned 9,111,800 shares of the company’s stock, valued at approximately $182,236,000. This represents a -2,529.85% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Holdings Iv Gp Mana Blackstone purchased 2,868,069 shares of Blackstone stock in a transaction dated Friday, March 20th. The shares were purchased at an average price of $26.15 per share, with a total value of $75,000,004.35. Following the completion of the transaction, the insider directly owned 18,628,295 shares in the company, valued at approximately $487,129,914.25. This represents a 18.20% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 12,355,303 shares of company stock valued at $264,789,896 over the last 90 days. 1.00% of the stock is currently owned by corporate insiders.

Blackstone Profile

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.