Private Advisor Group LLC decreased its stake in shares of Blackstone Inc. (NYSE:BX - Free Report) by 1.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 218,049 shares of the asset manager's stock after selling 3,879 shares during the period. Private Advisor Group LLC's holdings in Blackstone were worth $37,596,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. Bangor Savings Bank boosted its stake in Blackstone by 187.5% during the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager's stock valued at $28,000 after purchasing an additional 105 shares during the period. Hager Investment Management Services LLC bought a new stake in Blackstone during the 4th quarter valued at approximately $28,000. Berbice Capital Management LLC bought a new stake in Blackstone during the 4th quarter valued at approximately $34,000. Comprehensive Financial Planning Inc. PA bought a new stake in shares of Blackstone in the 4th quarter worth approximately $34,000. Finally, Roxbury Financial LLC bought a new stake in shares of Blackstone in the 4th quarter worth approximately $34,000. Institutional investors and hedge funds own 70.00% of the company's stock.
Blackstone Price Performance
BX stock traded down $5.69 during midday trading on Friday, reaching $158.21. 4,407,663 shares of the company's stock traded hands, compared to its average volume of 3,275,250. The company has a 50-day simple moving average of $174.18 and a two-hundred day simple moving average of $165.03. Blackstone Inc. has a 1-year low of $115.82 and a 1-year high of $200.96. The company has a market cap of $114.23 billion, a price-to-earnings ratio of 43.58, a PEG ratio of 1.09 and a beta of 1.53. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61.
Blackstone (NYSE:BX - Get Free Report) last released its earnings results on Thursday, January 30th. The asset manager reported $1.69 EPS for the quarter, beating the consensus estimate of $1.50 by $0.19. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. On average, analysts anticipate that Blackstone Inc. will post 5.87 earnings per share for the current year.
Blackstone Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th were paid a $1.44 dividend. This is a boost from Blackstone's previous quarterly dividend of $0.86. This represents a $5.76 annualized dividend and a dividend yield of 3.64%. The ex-dividend date of this dividend was Monday, February 10th. Blackstone's dividend payout ratio (DPR) is 158.68%.
Insider Activity
In related news, Director Ruth Porat acquired 301 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The stock was acquired at an average cost of $164.85 per share, with a total value of $49,619.85. Following the completion of the purchase, the director now directly owns 36,829 shares in the company, valued at approximately $6,071,260.65. This trade represents a 0.82 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.00% of the company's stock.
Analyst Upgrades and Downgrades
BX has been the subject of a number of research reports. StockNews.com downgraded Blackstone from a "buy" rating to a "hold" rating in a research report on Friday, January 31st. Barclays cut their target price on Blackstone from $192.00 to $186.00 and set an "equal weight" rating for the company in a research report on Friday, January 31st. BMO Capital Markets raised their target price on Blackstone from $134.00 to $157.00 and gave the stock a "market perform" rating in a research report on Thursday, December 19th. UBS Group raised their target price on Blackstone from $170.00 to $180.00 and gave the stock a "neutral" rating in a research report on Monday, February 3rd. Finally, JPMorgan Chase & Co. raised their target price on Blackstone from $149.00 to $154.00 and gave the stock a "neutral" rating in a research report on Friday, January 31st. Thirteen research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $172.38.
View Our Latest Research Report on Blackstone
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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