Terra Nova Asset Management LLC Has $2.22 Million Position in Blackstone Inc. (NYSE:BX)

Terra Nova Asset Management LLC cut its holdings in Blackstone Inc. (NYSE:BX) by 3.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,920 shares of the asset manager’s stock after selling 535 shares during the quarter. Blackstone comprises approximately 1.9% of Terra Nova Asset Management LLC’s holdings, making the stock its 18th largest position. Terra Nova Asset Management LLC’s holdings in Blackstone were worth $2,215,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Blackstone by 30.2% in the 3rd quarter. Vanguard Group Inc. now owns 62,091,903 shares of the asset manager’s stock worth $6,652,526,000 after purchasing an additional 14,396,655 shares during the last quarter. Morgan Stanley lifted its position in Blackstone by 3.7% during the 4th quarter. Morgan Stanley now owns 22,495,670 shares of the asset manager’s stock valued at $1,668,954,000 after purchasing an additional 798,734 shares during the period. State Street Corp increased its stake in shares of Blackstone by 2.1% in the 1st quarter. State Street Corp now owns 16,157,334 shares of the asset manager’s stock valued at $1,419,249,000 after acquiring an additional 332,962 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Blackstone by 13.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 14,825,769 shares of the asset manager’s stock valued at $1,588,433,000 after purchasing an additional 1,744,652 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Blackstone by 7.1% in the 1st quarter. Geode Capital Management LLC now owns 7,925,167 shares of the asset manager’s stock worth $695,952,000 after purchasing an additional 522,561 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Blackstone

In other news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the firm’s stock in a transaction dated Sunday, March 3rd. The stock was sold at an average price of $11.10, for a total transaction of $27,853,407.60. Following the sale, the insider now owns 12,802 shares of the company’s stock, valued at approximately $142,102.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Blackstone news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of Blackstone stock in a transaction that occurred on Sunday, March 3rd. The stock was sold at an average price of $11.10, for a total value of $27,853,407.60. Following the transaction, the insider now directly owns 12,802 shares in the company, valued at approximately $142,102.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John G. Finley sold 49,000 shares of Blackstone stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $127.93, for a total value of $6,268,570.00. Following the completion of the sale, the insider now owns 393,143 shares in the company, valued at $50,294,783.99. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,587,168 shares of company stock worth $37,816,476. 1.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

BX has been the topic of several recent analyst reports. Keefe, Bruyette & Woods raised their target price on shares of Blackstone from $123.00 to $127.00 and gave the company a “market perform” rating in a report on Friday, January 26th. TD Cowen initiated coverage on shares of Blackstone in a report on Thursday, January 4th. They issued a “market perform” rating and a $118.00 target price on the stock. BMO Capital Markets raised their target price on shares of Blackstone from $95.00 to $101.00 and gave the company a “market perform” rating in a report on Friday, January 26th. JPMorgan Chase & Co. lifted their price target on shares of Blackstone from $91.00 to $96.00 and gave the company a “neutral” rating in a report on Friday, January 26th. Finally, Wells Fargo & Company boosted their target price on shares of Blackstone from $127.00 to $130.00 and gave the stock an “overweight” rating in a report on Monday, January 22nd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $119.53.

Blackstone Stock Performance

Shares of BX stock opened at $131.38 on Friday. The stock has a fifty day moving average of $125.60 and a 200 day moving average of $116.00. Blackstone Inc. has a 52 week low of $79.29 and a 52 week high of $133.56. The firm has a market capitalization of $93.89 billion, a price-to-earnings ratio of 71.79, a PEG ratio of 1.05 and a beta of 1.51. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.67.

Blackstone (NYSE:BX) last released its quarterly earnings results on Thursday, January 25th. The asset manager reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.16. Blackstone had a return on equity of 17.30% and a net margin of 17.34%. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $2.48 billion. During the same period in the previous year, the company posted $1.07 EPS. As a group, research analysts expect that Blackstone Inc. will post 4.92 earnings per share for the current year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 12th. Investors of record on Monday, February 5th were given a $0.94 dividend. The ex-dividend date was Friday, February 2nd. This is an increase from Blackstone’s previous quarterly dividend of $0.80. This represents a $3.76 dividend on an annualized basis and a yield of 2.86%. Blackstone’s dividend payout ratio (DPR) is currently 205.46%.

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.