Daiwa Securities Group Inc. boosted its stake in shares of Blackstone Inc. (NYSE:BX - Free Report) by 7.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 100,801 shares of the asset manager's stock after purchasing an additional 7,255 shares during the quarter. Daiwa Securities Group Inc.'s holdings in Blackstone were worth $17,380,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Blackstone by 12.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 155,953 shares of the asset manager's stock worth $26,889,000 after purchasing an additional 17,019 shares during the period. SLT Holdings LLC bought a new stake in shares of Blackstone in the fourth quarter valued at approximately $223,000. Sound View Wealth Advisors Group LLC boosted its position in shares of Blackstone by 0.9% in the fourth quarter. Sound View Wealth Advisors Group LLC now owns 8,110 shares of the asset manager's stock valued at $1,398,000 after acquiring an additional 74 shares during the period. OFI Invest Asset Management bought a new stake in shares of Blackstone in the fourth quarter valued at approximately $3,217,000. Finally, Coordinated Financial Services Inc. bought a new stake in shares of Blackstone in the fourth quarter valued at approximately $735,000. Institutional investors own 70.00% of the company's stock.
Analyst Upgrades and Downgrades
BX has been the subject of several research reports. Piper Sandler increased their price objective on Blackstone from $168.00 to $179.00 and gave the company a "neutral" rating in a research report on Monday, December 23rd. BMO Capital Markets upped their target price on Blackstone from $134.00 to $157.00 and gave the company a "market perform" rating in a research note on Thursday, December 19th. Keefe, Bruyette & Woods upped their target price on Blackstone from $174.00 to $177.00 and gave the company a "market perform" rating in a research note on Friday, January 31st. Wells Fargo & Company cut their target price on Blackstone from $195.00 to $180.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 14th. Finally, TD Cowen upgraded Blackstone from a "hold" rating to a "buy" rating and raised their price target for the company from $149.00 to $230.00 in a report on Monday, December 9th. Thirteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $172.38.
Check Out Our Latest Stock Report on BX
Insider Activity at Blackstone
In related news, Director Ruth Porat purchased 301 shares of the stock in a transaction on Tuesday, February 18th. The shares were purchased at an average price of $164.85 per share, with a total value of $49,619.85. Following the transaction, the director now directly owns 36,829 shares of the company's stock, valued at $6,071,260.65. This trade represents a 0.82 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.00% of the stock is owned by insiders.
Blackstone Stock Down 2.9 %
Shares of NYSE:BX traded down $4.07 during trading on Thursday, hitting $136.47. 4,877,026 shares of the company's stock traded hands, compared to its average volume of 3,332,664. Blackstone Inc. has a 52 week low of $115.82 and a 52 week high of $200.96. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. The company has a market cap of $99.54 billion, a price-to-earnings ratio of 37.60, a price-to-earnings-growth ratio of 1.07 and a beta of 1.55. The company has a 50-day moving average price of $166.60 and a 200-day moving average price of $166.85.
Blackstone (NYSE:BX - Get Free Report) last announced its earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.50 by $0.19. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. As a group, research analysts forecast that Blackstone Inc. will post 5.87 EPS for the current fiscal year.
Blackstone Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 10th were given a $1.44 dividend. This represents a $5.76 dividend on an annualized basis and a yield of 4.22%. The ex-dividend date of this dividend was Monday, February 10th. This is a positive change from Blackstone's previous quarterly dividend of $0.86. Blackstone's dividend payout ratio (DPR) is currently 158.68%.
About Blackstone
(
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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