CenterBook Partners LP Invests $8.74 Million in Blackstone Inc. (NYSE:BX)

CenterBook Partners LP acquired a new position in shares of Blackstone Inc. (NYSE:BX - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 50,690 shares of the asset manager's stock, valued at approximately $8,740,000.

A number of other institutional investors have also added to or reduced their stakes in BX. Norges Bank acquired a new stake in shares of Blackstone during the 4th quarter worth approximately $974,448,000. Raymond James Financial Inc. bought a new stake in Blackstone in the 4th quarter valued at $316,257,000. Vanguard Group Inc. boosted its position in shares of Blackstone by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 66,894,632 shares of the asset manager's stock valued at $11,533,972,000 after acquiring an additional 889,286 shares in the last quarter. FMR LLC raised its position in Blackstone by 38.8% in the fourth quarter. FMR LLC now owns 2,990,238 shares of the asset manager's stock worth $515,577,000 after purchasing an additional 835,170 shares in the last quarter. Finally, Proficio Capital Partners LLC boosted its holdings in Blackstone by 2,057.7% during the fourth quarter. Proficio Capital Partners LLC now owns 844,755 shares of the asset manager's stock valued at $145,653,000 after purchasing an additional 805,604 shares in the last quarter. 70.00% of the stock is owned by institutional investors and hedge funds.

Blackstone Trading Up 2.3 %

Shares of BX stock traded up $2.95 during trading hours on Monday, reaching $130.13. The company had a trading volume of 3,152,998 shares, compared to its average volume of 3,687,646. 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 Inc. has a 1-year low of $115.66 and a 1-year high of $200.96. The company has a 50 day moving average of $149.11 and a 200 day moving average of $165.71. The firm has a market cap of $94.92 billion, a price-to-earnings ratio of 35.85, a P/E/G ratio of 1.07 and a beta of 1.61.

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Blackstone (NYSE:BX - Get Free Report) last announced its quarterly earnings results 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 net margin of 20.99% and a return on equity of 19.58%. On average, equities research analysts anticipate that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were paid a $1.44 dividend. This represents a $5.76 dividend on an annualized basis and a yield of 4.43%. This is a boost from Blackstone's previous quarterly dividend of $0.86. The ex-dividend date was Monday, February 10th. Blackstone's payout ratio is presently 158.68%.

Analysts Set New Price Targets

BX has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their price target on Blackstone from $149.00 to $154.00 and gave the company a "neutral" rating in a research note on Friday, January 31st. Keefe, Bruyette & Woods increased their target price on shares of Blackstone from $174.00 to $177.00 and gave the stock a "market perform" rating in a research report on Friday, January 31st. Wells Fargo & Company decreased their price objective on shares of Blackstone from $160.00 to $139.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. Citigroup reduced their target price on Blackstone from $190.00 to $137.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Finally, Morgan Stanley reduced their price objective on Blackstone from $222.00 to $150.00 and set an "overweight" rating on the stock in a research note on Monday. Eleven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Blackstone presently has an average rating of "Hold" and an average price target of $155.72.

Insiders Place Their Bets

In related news, Director Ruth Porat acquired 301 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The shares were acquired at an average cost of $164.85 per share, with a total value 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. The trade was a 0.82 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.00% of the company's stock.

Blackstone Company 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.