CWA Asset Management Group LLC Has $14.48 Million Holdings in Blackstone Inc. (NYSE:BX)

CWA Asset Management Group LLC decreased its holdings in shares of Blackstone Inc. (NYSE:BX) by 3.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 83,979 shares of the asset manager’s stock after selling 2,705 shares during the quarter. CWA Asset Management Group LLC’s holdings in Blackstone were worth $14,480,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of BX. State Street Corp grew its stake in Blackstone by 1.2% in the third quarter. State Street Corp now owns 30,020,426 shares of the asset manager’s stock valued at $4,597,028,000 after acquiring an additional 348,751 shares during the period. Geode Capital Management LLC boosted its stake in shares of Blackstone by 2.3% during the third quarter. Geode Capital Management LLC now owns 14,896,413 shares of the asset manager’s stock valued at $2,272,227,000 after purchasing an additional 336,308 shares during the period. Wulff Hansen & CO. increased 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 valued at $908,797,000 after buying an additional 7,281,128 shares during the period. Legal & General Group Plc grew its stake in shares of Blackstone by 2.3% in the 2nd quarter. Legal & General Group Plc now owns 6,266,207 shares of the asset manager’s stock worth $775,758,000 after buying an additional 141,616 shares during the last quarter. Finally, International Assets Investment Management LLC increased its holdings in Blackstone by 15,357.3% in the 3rd quarter. International Assets Investment Management LLC now owns 4,201,150 shares of the asset manager’s stock worth $6,433,220,000 after buying an additional 4,173,971 shares in the last quarter. 70.00% of the stock is owned by institutional investors.

Blackstone Stock Up 0.0 %

Blackstone stock traded up $0.06 during mid-day trading on Monday, reaching $175.97. The company’s stock had a trading volume of 446,016 shares, compared to its average volume of 1,456,735. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71. The business’s 50 day simple moving average is $180.49 and its 200 day simple moving average is $155.31. The company has a market capitalization of $127.05 billion, a price-to-earnings ratio of 60.47, a price-to-earnings-growth ratio of 1.63 and a beta of 1.53. Blackstone Inc. has a 12 month low of $114.88 and a 12 month high of $200.96.

Blackstone (NYSE:BX) last released 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. The company had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.37 billion. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. As a group, research analysts anticipate that Blackstone Inc. will post 4.43 earnings per share for the current year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Monday, October 28th were issued a $0.86 dividend. 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 dividend on an annualized basis and a yield of 1.95%. Blackstone’s payout ratio is currently 118.21%.

Insider Activity at Blackstone

In other Blackstone news, insider John G. Finley sold 42,249 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the sale, the insider now owns 387,137 shares of the company’s stock, 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 Securities & Exchange Commission, which can be accessed through this link. 1.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on BX shares. BMO Capital Markets boosted their target price on Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a research report on Thursday, December 19th. TD Cowen raised Blackstone from a “hold” rating to a “buy” rating and lifted their target price for the company from $149.00 to $230.00 in a research report on Monday, December 9th. Bank of America upped their target price on shares of Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Cowen restated a “hold” rating on shares of Blackstone in a research note on Friday, October 18th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Fourteen analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Blackstone currently has an average rating of “Hold” and a consensus price target of $171.00.

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.