CIBC Asset Management Inc Boosts Stock Position in Blackstone Inc. (NYSE:BX)

CIBC Asset Management Inc raised its holdings in Blackstone Inc. (NYSE:BX - Free Report) by 1.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 174,558 shares of the asset manager's stock after purchasing an additional 2,189 shares during the period. CIBC Asset Management Inc's holdings in Blackstone were worth $30,097,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of BX. International Assets Investment Management LLC lifted its position in shares of Blackstone by 15,357.3% in the third quarter. International Assets Investment Management LLC now owns 4,201,150 shares of the asset manager's stock valued at $6,433,220,000 after acquiring an additional 4,173,971 shares in the last quarter. Jennison Associates LLC lifted its position in Blackstone by 111.1% during the fourth quarter. Jennison Associates LLC now owns 973,348 shares of the asset manager's stock worth $167,825,000 after buying an additional 512,165 shares in the last quarter. Castleark Management LLC purchased a new position in Blackstone during the third quarter worth approximately $67,472,000. State Street Corp lifted its position in Blackstone by 1.2% during the third quarter. State Street Corp now owns 30,020,426 shares of the asset manager's stock worth $4,597,028,000 after buying an additional 348,751 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Blackstone by 2.3% during the third quarter. Geode Capital Management LLC now owns 14,896,413 shares of the asset manager's stock worth $2,272,227,000 after buying an additional 336,308 shares in the last quarter. 70.00% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Blackstone

In other news, Director Ruth Porat bought 301 shares of Blackstone stock in a transaction dated 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 acquisition, the director now owns 36,829 shares of the company's stock, valued at approximately $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 is accessible through this link. Insiders own 1.00% of the company's stock.

Blackstone Stock Down 3.5 %

BX traded down $5.69 on Friday, hitting $158.21. 4,662,276 shares of the company were exchanged, compared to its average volume of 3,336,160. Blackstone Inc. has a twelve month low of $115.82 and a twelve month high of $200.96. The company has a market cap of $114.23 billion, a price-to-earnings ratio of 43.58, a price-to-earnings-growth ratio of 1.09 and a beta of 1.53. 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 firm has a 50-day moving average price of $173.58 and a two-hundred day moving average price of $165.23.

Blackstone (NYSE:BX - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, topping 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, equities analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th were given a dividend of $1.44 per share. 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 is currently 158.68%.

Wall Street Analyst Weigh In

BX has been the topic of a number of analyst reports. Citigroup lifted their price objective on Blackstone from $170.00 to $190.00 and gave the stock a "neutral" rating in a research report on Friday, January 31st. Deutsche Bank Aktiengesellschaft lifted their target price on Blackstone from $172.00 to $182.00 and gave the company a "buy" rating in a research report on Monday, November 11th. JPMorgan Chase & Co. lifted their target price on Blackstone from $149.00 to $154.00 and gave the company a "neutral" rating in a research report on Friday, January 31st. Keefe, Bruyette & Woods lifted their target price on Blackstone from $174.00 to $177.00 and gave the company a "market perform" rating in a research report on Friday, January 31st. Finally, Wells Fargo & Company reduced their target price on Blackstone from $195.00 to $180.00 and set an "equal weight" rating on the stock in a research report on Tuesday, January 14th. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $172.38.

About Blackstone

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.