Canada Post Corp Registered Pension Plan Makes New Investment in Blackstone Inc. (NYSE:BX)

Canada Post Corp Registered Pension Plan acquired a new position in Blackstone Inc. (NYSE:BX - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 12,470 shares of the asset manager's stock, valued at approximately $2,150,000.

A number of other hedge funds have also recently modified their holdings of BX. Bangor Savings Bank increased its holdings in shares of Blackstone by 187.5% during the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager's stock valued at $28,000 after acquiring an additional 105 shares in the last quarter. Hager Investment Management Services LLC bought a new stake in Blackstone during the 4th quarter valued at about $28,000. Centricity Wealth Management LLC purchased a new position in Blackstone in the fourth quarter worth about $30,000. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Blackstone during the fourth quarter valued at approximately $33,000. Finally, Berbice Capital Management LLC purchased a new position in Blackstone in the 4th quarter worth approximately $34,000. Institutional investors own 70.00% of the company's stock.

Blackstone Price Performance

NYSE:BX traded up $0.88 on Friday, reaching $130.26. 4,576,278 shares of the company's stock traded hands, compared to its average volume of 3,710,187. 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 12 month low of $115.66 and a 12 month high of $200.96. The stock has a 50-day simple moving average of $145.13 and a 200-day simple moving average of $164.95. The firm has a market cap of $95.01 billion, a PE ratio of 35.88, a P/E/G ratio of 1.07 and a beta of 1.61.

Blackstone (NYSE:BX - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The asset manager reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.22 by ($0.13). Blackstone had a return on equity of 19.58% and a net margin of 20.99%. The business had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.95 billion. During the same quarter in the previous year, the company earned $0.98 earnings per share. Equities research analysts forecast that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Stockholders of record on Monday, April 28th will be issued a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 2.86%. Blackstone's dividend payout ratio (DPR) is 158.68%.

Insider Buying and Selling

In other Blackstone news, Director Ruth Porat bought 301 shares of the firm'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 of the company's stock, valued at $6,071,260.65. This represents a 0.82 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Wells Fargo & Company lowered their price target on Blackstone from $160.00 to $139.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. Piper Sandler reduced their price target on shares of Blackstone from $182.00 to $140.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Barclays dropped their target price on shares of Blackstone from $186.00 to $129.00 and set an "equal weight" rating on the stock in a report on Monday, April 7th. JMP Securities upgraded Blackstone from a "market perform" rating to a "market outperform" rating and set a $165.00 price target on the stock in a research note on Tuesday, April 8th. Finally, Citizens Jmp raised Blackstone from a "market perform" rating to an "outperform" rating and set a $165.00 target price on the stock in a report on Tuesday, April 8th. Eleven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $155.72.

Blackstone Profile

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.