Kovitz Investment Group Partners LLC raised its holdings in Blackstone Inc. (NYSE:BX - Free Report) by 675.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 780,738 shares of the asset manager's stock after purchasing an additional 680,074 shares during the quarter. Kovitz Investment Group Partners LLC owned 0.11% of Blackstone worth $134,615,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Bangor Savings Bank grew its holdings in Blackstone by 187.5% in the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager's stock valued at $28,000 after purchasing an additional 105 shares during the period. Hager Investment Management Services LLC acquired a new stake in shares of Blackstone during the fourth quarter worth approximately $28,000. Centricity Wealth Management LLC bought a new stake in shares of Blackstone during the 4th quarter worth about $30,000. Murphy & Mullick Capital Management Corp bought a new position in Blackstone during the fourth quarter worth $33,000. Finally, Berbice Capital Management LLC acquired a new stake in Blackstone in the 4th quarter valued at $34,000. Institutional investors and hedge funds own 70.00% of the company's stock.
Blackstone Stock Down 0.1 %
Blackstone stock traded down $0.13 during mid-day trading on Tuesday, reaching $133.45. 2,270,048 shares of the company's stock were exchanged, compared to its average volume of 4,737,560. The company has a market cap of $97.34 billion, a P/E ratio of 36.76, a P/E/G ratio of 1.07 and a beta of 1.61. Blackstone Inc. has a twelve month low of $115.66 and a twelve month high of $200.96. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. The company has a fifty day moving average of $140.89 and a 200-day moving average of $164.05.
Blackstone (NYSE:BX - Get Free Report) last announced its earnings results on Thursday, April 17th. The asset manager reported $1.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.22 by ($0.13). Blackstone had a return on equity of 19.58% and a net margin of 20.99%. The business had revenue of $2.76 billion for the quarter, compared to analysts' expectations of $2.95 billion. During the same period in the previous year, the firm posted $0.98 earnings per share. Sell-side analysts expect that Blackstone Inc. will post 5.87 EPS for the current year.
Blackstone Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Monday, April 28th will be issued a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date is Monday, April 28th. Blackstone's dividend payout ratio is currently 112.05%.
Analyst Ratings Changes
Several research analysts recently commented on the company. Citigroup reduced their price target on Blackstone from $190.00 to $137.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. JMP Securities reiterated a "market outperform" rating and set a $165.00 price target on shares of Blackstone in a research report on Thursday, April 24th. Keefe, Bruyette & Woods decreased their target price on Blackstone from $141.00 to $139.00 and set a "market perform" rating for the company in a report on Tuesday, April 22nd. Wells Fargo & Company lowered their price target on Blackstone from $160.00 to $139.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. Finally, Barclays lifted their price objective on shares of Blackstone from $129.00 to $136.00 and gave the company an "equal weight" rating in a research report on Monday, April 21st. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Blackstone has a consensus rating of "Hold" and an average price target of $154.82.
View Our Latest Stock Analysis on Blackstone
Insider Buying and Selling
In other Blackstone news, Director Ruth Porat purchased 301 shares of the business's stock in a transaction on Tuesday, February 18th. The stock was acquired at an average cost of $164.85 per share, for a total transaction of $49,619.85. Following the completion of the transaction, the director now directly owns 36,829 shares in the company, valued at approximately $6,071,260.65. This represents a 0.82 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.00% of the stock is currently owned by corporate insiders.
About Blackstone
(
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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