South Street Advisors LLC cut its stake in Blackstone Inc. (NYSE:BX - Free Report) by 3.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 105,491 shares of the asset manager's stock after selling 3,816 shares during the period. Blackstone accounts for 2.8% of South Street Advisors LLC's investment portfolio, making the stock its 14th largest holding. South Street Advisors LLC's holdings in Blackstone were worth $18,189,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also added to or reduced their stakes in BX. Bangor Savings Bank raised its position in shares of Blackstone by 187.5% during the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager's stock worth $28,000 after purchasing an additional 105 shares during the period. Hager Investment Management Services LLC bought a new position in Blackstone in the 4th quarter valued at $28,000. Centricity Wealth Management LLC bought a new position in Blackstone in the 4th quarter valued at $30,000. Berbice Capital Management LLC bought a new position in Blackstone in the 4th quarter valued at $34,000. Finally, Comprehensive Financial Planning Inc. PA bought a new position in Blackstone in the 4th quarter valued at $34,000. 70.00% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on BX. JPMorgan Chase & Co. increased their price target on Blackstone from $149.00 to $154.00 and gave the stock a "neutral" rating in a research note on Friday, January 31st. Citigroup reiterated a "hold" rating on shares of Blackstone in a research note on Friday, February 7th. BMO Capital Markets increased their price target on Blackstone from $134.00 to $157.00 and gave the stock a "market perform" rating in a research note on Thursday, December 19th. Keefe, Bruyette & Woods raised their target price on Blackstone from $174.00 to $177.00 and gave the stock a "market perform" rating in a research note on Friday, January 31st. Finally, Piper Sandler raised their target price on Blackstone from $168.00 to $179.00 and gave the stock a "neutral" rating in a research note on Monday, December 23rd. Twelve research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Blackstone currently has an average rating of "Hold" and a consensus target price of $171.13.
Check Out Our Latest Analysis on BX
Insiders Place Their Bets
In other Blackstone news, Director Ruth Porat acquired 301 shares of the business's stock in a transaction dated Tuesday, February 18th. The shares were purchased at an average cost of $164.85 per share, for a total transaction of $49,619.85. Following the transaction, the director now owns 36,829 shares in the company, valued at $6,071,260.65. This represents a 0.82 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.00% of the company's stock.
Blackstone Price Performance
Shares of NYSE BX traded down $0.10 during trading hours on Friday, reaching $148.65. 8,381,116 shares of the stock traded hands, compared to its average volume of 3,275,264. The company has a market capitalization of $108.43 billion, a P/E ratio of 40.95, a price-to-earnings-growth ratio of 1.07 and a beta of 1.55. 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 Inc. has a 52-week low of $115.82 and a 52-week high of $200.96. The company's 50-day simple moving average is $163.53 and its two-hundred day simple moving average is $167.08.
Blackstone (NYSE:BX - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 earnings per share 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%. Equities research analysts forecast that Blackstone Inc. will post 5.87 EPS for the current year.
Blackstone Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders 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 dividend on an annualized basis and a yield of 3.87%. The ex-dividend date of this dividend was Monday, February 10th. Blackstone's payout ratio is 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.
See Also
Before you consider Blackstone, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Blackstone wasn't on the list.
While Blackstone currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
