Blackstone Inc. (NYSE:BX) Shares Purchased by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd increased its position in shares of Blackstone Inc. (NYSE:BX - Free Report) by 13.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 17,663 shares of the asset manager's stock after buying an additional 2,127 shares during the quarter. Harvest Fund Management Co. Ltd's holdings in Blackstone were worth $3,043,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Icon Wealth Advisors LLC grew its stake in shares of Blackstone by 2,185.4% in the third quarter. Icon Wealth Advisors LLC now owns 18,946 shares of the asset manager's stock valued at $2,901,000 after buying an additional 18,117 shares in the last quarter. Wealthcare Capital Partners LLC purchased a new stake in Blackstone during the fourth quarter worth about $2,102,000. Highland Capital Management LLC boosted its stake in shares of Blackstone by 214.2% in the fourth quarter. Highland Capital Management LLC now owns 22,303 shares of the asset manager's stock valued at $3,845,000 after purchasing an additional 15,205 shares during the period. PNC Financial Services Group Inc. increased its stake in Blackstone by 3.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,169,526 shares of the asset manager's stock worth $179,089,000 after buying an additional 36,343 shares during the period. Finally, Nordea Investment Management AB boosted its position in Blackstone by 8.8% in the 4th quarter. Nordea Investment Management AB now owns 58,229 shares of the asset manager's stock valued at $10,053,000 after buying an additional 4,688 shares during the period. Institutional investors and hedge funds own 70.00% of the company's stock.

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Blackstone Stock Performance

Shares of BX stock traded down $0.10 during trading hours on Friday, hitting $148.65. The stock had a trading volume of 8,381,116 shares, compared to its average volume of 3,280,093. The stock's 50 day moving average is $163.53 and its 200 day moving average is $167.28. The firm has a market capitalization of $108.43 billion, a PE ratio of 40.95, a PEG ratio of 1.07 and a beta of 1.55. Blackstone Inc. has a twelve month low of $115.82 and a twelve month high of $200.96. 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 (NYSE:BX - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 EPS 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%. As a group, research analysts forecast that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The business 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 is an increase from Blackstone's previous quarterly dividend of $0.86. This represents a $5.76 annualized dividend and a dividend yield of 3.87%. The ex-dividend date of this dividend was Monday, February 10th. Blackstone's dividend payout ratio (DPR) is 158.68%.

Analyst Ratings Changes

A number of research analysts recently issued reports on BX shares. Barclays reiterated an "equal weight" rating on shares of Blackstone in a report on Friday, February 7th. Citigroup reissued a "hold" rating on shares of Blackstone in a research report on Friday, February 7th. Wells Fargo & Company decreased their price target on shares of Blackstone from $180.00 to $160.00 and set an "equal weight" rating for the company in a research note on Thursday. TD Cowen upgraded shares of Blackstone from a "hold" rating to a "buy" rating and raised their price objective for the company from $149.00 to $230.00 in a report on Monday, December 9th. Finally, Keefe, Bruyette & Woods increased their target price on Blackstone from $174.00 to $177.00 and gave the company a "market perform" rating in a report on Friday, January 31st. Twelve equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $171.13.

Insider Transactions at Blackstone

In other news, Director Ruth Porat purchased 301 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The stock was purchased at an average cost of $164.85 per share, with a total value of $49,619.85. Following the completion of the acquisition, the director now directly 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company 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.