Robeco Institutional Asset Management B.V. Sells 52,733 Shares of Blackstone Inc. (NYSE:BX)

Robeco Institutional Asset Management B.V. trimmed its holdings in shares of Blackstone Inc. (NYSE:BX – Get Rating) by 26.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 143,289 shares of the asset manager’s stock after selling 52,733 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Blackstone were worth $11,993,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Mach 1 Financial Group LLC purchased a new position in shares of Blackstone in the 3rd quarter worth $25,000. SJS Investment Consulting Inc. purchased a new position in Blackstone during the third quarter valued at $26,000. HWG Holdings LP purchased a new position in Blackstone during the third quarter valued at $28,000. Ameliora Wealth Management Ltd. purchased a new position in Blackstone during the third quarter valued at $29,000. Finally, Trust Co. of Vermont lifted its position in Blackstone by 133.3% during the third quarter. Trust Co. of Vermont now owns 350 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 200 shares in the last quarter. 62.39% of the stock is currently owned by hedge funds and other institutional investors.

Blackstone Trading Down 2.7 %

BX opened at $84.89 on Friday. The firm has a market cap of $59.96 billion, a P/E ratio of 35.82, a P/E/G ratio of 1.89 and a beta of 1.52. Blackstone Inc. has a 12 month low of $71.72 and a 12 month high of $132.93. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.69. The stock has a 50-day moving average of $89.93 and a 200 day moving average of $88.03.

Blackstone (NYSE:BX – Get Rating) last released its quarterly earnings results on Thursday, January 26th. The asset manager reported $1.07 EPS for the quarter, topping the consensus estimate of $0.95 by $0.12. The company had revenue of $1.70 billion during the quarter, compared to analyst estimates of $2.62 billion. Blackstone had a return on equity of 19.43% and a net margin of 20.52%. During the same quarter last year, the business posted $1.71 earnings per share. As a group, research analysts forecast that Blackstone Inc. will post 4.66 EPS for the current year.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 13th. Shareholders of record on Monday, February 6th were given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 4.29%. The ex-dividend date of this dividend was Friday, February 3rd. This is a positive change from Blackstone’s previous quarterly dividend of $0.90. Blackstone’s payout ratio is 153.59%.

Analyst Ratings Changes

BX has been the topic of several analyst reports. Morgan Stanley lifted their target price on Blackstone from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Monday, January 30th. JPMorgan Chase & Co. upgraded Blackstone from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $104.00 to $105.00 in a research report on Tuesday, January 24th. Wells Fargo & Company raised their price target on Blackstone from $95.00 to $103.00 and gave the company an “overweight” rating in a report on Friday, January 27th. The Goldman Sachs Group raised their price target on Blackstone from $86.00 to $100.00 and gave the company a “buy” rating in a report on Monday, January 30th. Finally, Barclays raised their price target on Blackstone from $86.00 to $100.00 and gave the company an “equal weight” rating in a report on Friday, January 27th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $112.33.

Insider Buying and Selling at Blackstone

In other Blackstone news, major shareholder Holdings I/Ii Gp L. Blackstone sold 28,562,652 shares of the business’s stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $8.71, for a total transaction of $248,780,698.92. Following the completion of the transaction, the insider now owns 57,028 shares in the company, valued at $496,713.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Blackstone news, major shareholder Holdings I/Ii Gp L. Blackstone sold 28,562,652 shares of the business’s stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $8.71, for a total transaction of $248,780,698.92. Following the completion of the transaction, the insider now owns 57,028 shares in the company, valued at $496,713.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 11,750,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 8th. The shares were sold at an average price of $22.17, for a total value of $260,497,500.00. The disclosure for this sale can be found here. Insiders sold 140,532,616 shares of company stock worth $1,726,902,967 over the last 90 days. Company insiders own 1.00% of the company’s stock.

About Blackstone

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Blackstone, Inc engages in the provision of investment and fund management services. It operates through the following segments: Real Estate, Private Equity, Credit and Insurance, and Hedge Fund Solutions. The Real Estate segment includes management of opportunistic real estate funds, Core+ real estate funds, high-yield real estate debt funds, and liquid real estate debt funds.