OMERS ADMINISTRATION Corp Makes New $4.93 Million Investment in Blackstone Inc. $BX

OMERS ADMINISTRATION Corp acquired a new stake in shares of Blackstone Inc. (NYSE:BX) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 41,880 shares of the asset manager’s stock, valued at approximately $4,928,000.

Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of Blackstone in the 2nd quarter worth $6,112,162,000. Morgan Stanley lifted its holdings in Blackstone by 2.0% in the fourth quarter. Morgan Stanley now owns 32,862,165 shares of the asset manager’s stock valued at $5,065,374,000 after acquiring an additional 636,613 shares during the period. State Street Corp boosted its position in Blackstone by 0.6% in the fourth quarter. State Street Corp now owns 31,542,009 shares of the asset manager’s stock worth $4,861,885,000 after purchasing an additional 179,213 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Blackstone by 3.4% during the 1st quarter. Bank of America Corp DE now owns 11,538,067 shares of the asset manager’s stock valued at $1,326,762,000 after purchasing an additional 384,264 shares during the period. Finally, Norges Bank bought a new position in shares of Blackstone in the 4th quarter worth approximately $1,275,747,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insider Activity

In other Blackstone news, CAO David Payne sold 9,500 shares of the business’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $145.23, for a total value of $1,379,685.00. Following the sale, the chief accounting officer owned 64,448 shares in the company, valued at $9,359,783.04. The trade was a 12.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ruth Porat acquired 371 shares of the business’s stock in a transaction dated Monday, August 10th. The shares were purchased at an average price of $137.17 per share, with a total value of $50,890.07. Following the transaction, the director owned 42,189 shares of the company’s stock, valued at approximately $5,787,065.13. This represents a 0.89% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have purchased 1,611,822 shares of company stock valued at $42,189,294 and have sold 7,562,000 shares valued at $40,331,085. 1.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently issued reports on BX shares. Zacks Research upgraded shares of Blackstone from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th. Oppenheimer boosted their price objective on shares of Blackstone from $139.00 to $140.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. Jefferies Financial Group raised their target price on Blackstone from $143.00 to $152.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Piper Sandler boosted their price target on Blackstone from $122.00 to $130.00 and gave the company a “neutral” rating in a report on Monday, April 27th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Blackstone in a research note on Monday, June 8th. They issued a “buy” rating on the stock. Thirteen research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Blackstone presently has a consensus rating of “Moderate Buy” and a consensus price target of $147.95.

Blackstone Trading Up 0.2%

Shares of Blackstone stock opened at $143.66 on Tuesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.72 and a current ratio of 0.72. The company has a fifty day moving average of $129.20 and a 200 day moving average of $122.50. The company has a market capitalization of $107.83 billion, a P/E ratio of 32.14, a P/E/G ratio of 1.56 and a beta of 1.55. Blackstone Inc. has a fifty-two week low of $101.73 and a fifty-two week high of $190.09.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Thursday, July 23rd. The asset manager reported $1.52 EPS for the quarter, beating the consensus estimate of $1.34 by $0.18. Blackstone had a return on equity of 23.77% and a net margin of 21.84%.The business had revenue of $5.04 billion for the quarter, compared to the consensus estimate of $3.42 billion. During the same period in the previous year, the business earned $0.98 earnings per share. The business’s revenue was up 35.9% on a year-over-year basis. On average, sell-side analysts anticipate that Blackstone Inc. will post 5.99 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Monday, August 3rd were issued a dividend of $1.29 per share. This is an increase from Blackstone’s previous quarterly dividend of $1.16. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $5.16 dividend on an annualized basis and a yield of 3.6%. Blackstone’s payout ratio is 115.44%.

Blackstone Company 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.