Resona Asset Management Co. Ltd. bought a new stake in shares of Blackstone Inc. (NYSE:BX - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 206,369 shares of the asset manager's stock, valued at approximately $35,629,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Bangor Savings Bank lifted its holdings in shares of Blackstone by 187.5% in the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager's stock worth $28,000 after acquiring an additional 105 shares during the last quarter. Hager Investment Management Services LLC bought a new stake in shares of Blackstone during the fourth quarter worth $28,000. Centricity Wealth Management LLC acquired a new stake in shares of Blackstone during the fourth quarter valued at about $30,000. Murphy & Mullick Capital Management Corp acquired a new position in Blackstone in the 4th quarter valued at approximately $33,000. Finally, Berbice Capital Management LLC bought a new stake in shares of Blackstone in the 4th quarter valued at about $34,000. Institutional investors and hedge funds own 70.00% of the company's stock.
Insiders Place Their Bets
In other news, Director Ruth Porat acquired 301 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were bought at an average cost of $164.85 per share, with a total value of $49,619.85. Following the acquisition, the director now owns 36,829 shares in the company, valued at approximately $6,071,260.65. This represents a 0.82 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.00% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on the company. JMP Securities raised Blackstone from a "market perform" rating to a "market outperform" rating and set a $165.00 price objective for the company in a research report on Tuesday. TD Cowen dropped their price objective on shares of Blackstone from $233.00 to $147.00 and set a "buy" rating on the stock in a report on Wednesday. UBS Group raised Blackstone from a "neutral" rating to a "buy" rating and set a $180.00 price target on the stock in a research note on Monday, March 17th. Piper Sandler lowered their target price on Blackstone from $182.00 to $140.00 and set a "neutral" rating on the stock in a research report on Tuesday. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Blackstone from $174.00 to $177.00 and gave the company a "market perform" rating in a research note on Friday, January 31st. Eleven analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, Blackstone has a consensus rating of "Hold" and an average price target of $157.22.
Get Our Latest Stock Analysis on Blackstone
Blackstone Price Performance
BX stock traded down $10.29 during mid-day trading on Thursday, reaching $127.07. 3,933,559 shares of the company traded hands, compared to its average volume of 3,651,416. The company has a fifty day moving average price of $150.91 and a 200-day moving average price of $166.02. The company has a market capitalization of $92.69 billion, a P/E ratio of 34.56, a P/E/G ratio of 1.07 and a beta of 1.61. Blackstone Inc. has a 52-week low of $115.66 and a 52-week high of $200.96. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71.
Blackstone (NYSE:BX - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The asset manager reported $1.69 EPS for the quarter, beating analysts' consensus estimates of $1.50 by $0.19. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. As a group, analysts anticipate that Blackstone Inc. will post 5.87 earnings per share for the current year.
Blackstone Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 10th were paid a $1.44 dividend. This is an increase from Blackstone's previous quarterly dividend of $0.86. This represents a $5.76 dividend on an annualized basis and a yield of 4.53%. The ex-dividend date was Monday, February 10th. Blackstone's dividend payout ratio (DPR) is currently 158.68%.
Blackstone Profile
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Free Report)
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.
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