Harbour Trust & Investment Management Co boosted its holdings in shares of Blackstone Inc. (NYSE:BX - Free Report) by 3.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 62,146 shares of the asset manager's stock after buying an additional 1,920 shares during the quarter. Blackstone accounts for about 1.2% of Harbour Trust & Investment Management Co's portfolio, making the stock its 22nd largest holding. Harbour Trust & Investment Management Co's holdings in Blackstone were worth $10,715,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Bangor Savings Bank grew its stake in shares of Blackstone by 187.5% during the 4th 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 purchased a new position in Blackstone in the fourth quarter valued at $28,000. Berbice Capital Management LLC purchased a new stake in shares of Blackstone during the 4th quarter worth about $34,000. Kieckhefer Group LLC purchased a new position in shares of Blackstone in the 4th quarter valued at about $39,000. Finally, Raleigh Capital Management Inc. boosted its position in Blackstone by 32.1% during the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager's stock worth $39,000 after purchasing an additional 62 shares in the last quarter. 70.00% of the stock is owned by hedge funds and other institutional investors.
Blackstone Trading Down 1.0 %
Shares of BX stock traded down $1.75 during trading on Monday, hitting $168.52. 2,333,438 shares of the stock traded hands, compared to its average volume of 3,115,852. The firm has a market capitalization of $121.67 billion, a P/E ratio of 46.42, a price-to-earnings-growth ratio of 1.13 and a beta of 1.53. 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 52-week low of $115.82 and a 52-week high of $200.96. The firm's fifty day moving average price is $178.36 and its 200-day moving average price is $163.80.
Blackstone (NYSE:BX - Get Free Report) last posted its earnings results 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%. As a group, research analysts forecast that Blackstone Inc. will post 5.88 earnings per share for the current fiscal year.
Blackstone Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th will be given a $1.44 dividend. This represents a $5.76 annualized dividend and a yield of 3.42%. The ex-dividend date of this dividend is Monday, February 10th. This is a boost from Blackstone's previous quarterly dividend of $0.86. Blackstone's dividend payout ratio (DPR) is currently 158.68%.
Analysts Set New Price Targets
BX has been the topic of a number of recent analyst reports. Barclays decreased their target price on Blackstone from $192.00 to $186.00 and set an "equal weight" rating on the stock in a research report on Friday, January 31st. Bank of America boosted their target price on shares of Blackstone from $171.00 to $192.00 and gave the stock a "buy" rating in a research note on Friday, October 18th. JPMorgan Chase & Co. lifted their price objective on Blackstone from $149.00 to $154.00 and gave the stock a "neutral" rating in a report on Friday, January 31st. Evercore ISI raised their target price on Blackstone from $148.00 to $155.00 and gave the company an "outperform" rating in a research report on Monday, October 14th. Finally, StockNews.com downgraded Blackstone from a "buy" rating to a "hold" rating in a research note on Friday, January 31st. Thirteen analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $172.38.
Read Our Latest Stock Report on BX
Blackstone Profile
(
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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