KLP Kapitalforvaltning AS Makes New $41.69 Million Investment in Blackstone Inc. (NYSE:BX)

KLP Kapitalforvaltning AS bought a new stake in shares of Blackstone Inc. (NYSE:BX - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 241,800 shares of the asset manager's stock, valued at approximately $41,691,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp increased its stake in Blackstone by 1.2% in the 3rd quarter. State Street Corp now owns 30,020,426 shares of the asset manager's stock worth $4,597,028,000 after acquiring an additional 348,751 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Blackstone by 2.3% in 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 purchasing an additional 336,308 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Blackstone by 2.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,045,143 shares of the asset manager's stock worth $697,464,000 after buying an additional 113,732 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Blackstone by 3.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,430,909 shares of the asset manager's stock valued at $525,375,000 after buying an additional 116,367 shares in the last quarter. Finally, FMR LLC grew its position in Blackstone by 6.1% in the third quarter. FMR LLC now owns 2,155,068 shares of the asset manager's stock worth $330,006,000 after acquiring an additional 124,462 shares in the last quarter. 70.00% of the stock is owned by hedge funds and other institutional investors.

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Insider Buying and Selling

In related news, Director Ruth Porat bought 301 shares of the stock in a transaction on Tuesday, February 18th. The shares were acquired at an average price of $164.85 per share, for a total transaction of $49,619.85. Following the purchase, the director now owns 36,829 shares of the company's stock, valued at approximately $6,071,260.65. The trade was a 0.82 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.00% of the stock is owned by company insiders.

Blackstone Stock Down 1.0 %

Shares of BX stock traded down $1.53 during midday trading on Tuesday, reaching $150.55. 1,227,447 shares of the stock were exchanged, compared to its average volume of 3,278,089. The firm has a market cap of $109.81 billion, a PE ratio of 41.54, a price-to-earnings-growth ratio of 1.07 and a beta of 1.55. 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 company's 50 day moving average is $163.26 and its two-hundred day moving average is $167.59. Blackstone Inc. has a 1 year low of $115.82 and a 1 year high of $200.96.

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

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were issued a $1.44 dividend. The ex-dividend date was Monday, February 10th. This is a boost from Blackstone's previous quarterly dividend of $0.86. This represents a $5.76 annualized dividend and a yield of 3.83%. Blackstone's payout ratio is 158.68%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Wells Fargo & Company dropped their price target on Blackstone from $180.00 to $160.00 and set an "equal weight" rating for the company in a research note on Thursday, March 20th. BMO Capital Markets lifted their target price on shares of Blackstone from $134.00 to $157.00 and gave the stock a "market perform" rating in a research report on Thursday, December 19th. Keefe, Bruyette & Woods lifted their price objective on Blackstone from $174.00 to $177.00 and gave the stock a "market perform" rating in a report on Friday, January 31st. JPMorgan Chase & Co. raised their price target on Blackstone from $149.00 to $154.00 and gave the stock a "neutral" rating in a research report on Friday, January 31st. Finally, StockNews.com cut shares of Blackstone from a "buy" rating to a "hold" rating in a report on Friday, January 31st. Twelve investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $171.13.

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.