Norges Bank bought a new position in shares of Blackstone Inc. (NYSE:BX - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 5,651,597 shares of the asset manager's stock, valued at approximately $974,448,000. Norges Bank owned 0.78% of Blackstone as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently modified their holdings of the company. Bangor Savings Bank raised its holdings in shares of Blackstone by 187.5% in the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager's stock valued at $28,000 after purchasing an additional 105 shares in the last quarter. Hager Investment Management Services LLC bought a new position in Blackstone in the fourth quarter worth approximately $28,000. Centricity Wealth Management LLC bought a new stake in Blackstone during the 4th quarter valued at $30,000. Murphy & Mullick Capital Management Corp bought a new position in shares of Blackstone in the 4th quarter worth $33,000. Finally, Berbice Capital Management LLC bought a new stake in Blackstone during the fourth quarter valued at about $34,000. Hedge funds and other institutional investors own 70.00% of the company's stock.
Insider Activity
In related news, Director Ruth Porat bought 301 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was acquired at an average price of $164.85 per share, with a total value of $49,619.85. Following the completion of the purchase, 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 ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.00% of the company's stock.
Analyst Ratings Changes
A number of analysts have recently weighed in on BX shares. Piper Sandler raised their price target on shares of Blackstone from $168.00 to $179.00 and gave the company a "neutral" rating in a report on Monday, December 23rd. BMO Capital Markets lifted their price target on shares of Blackstone from $134.00 to $157.00 and gave the stock a "market perform" rating in a report on Thursday, December 19th. Barclays reissued an "equal weight" rating on shares of Blackstone in a research report on Friday, February 7th. TD Cowen upgraded Blackstone from a "hold" rating to a "buy" rating and increased their price target for the company from $149.00 to $230.00 in a research note on Monday, December 9th. Finally, UBS Group upgraded shares of Blackstone from a "neutral" rating to a "buy" rating and set a $180.00 price objective on the stock in a report on Monday, March 17th. Twelve research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, Blackstone presently has a consensus rating of "Hold" and a consensus target price of $171.13.
Read Our Latest Research Report on Blackstone
Blackstone Stock Performance
Blackstone stock traded up $2.59 during midday trading on Tuesday, hitting $142.37. 997,801 shares of the company were exchanged, compared to its average volume of 3,866,382. Blackstone Inc. has a fifty-two week low of $115.82 and a fifty-two week high of $200.96. The firm has a market capitalization of $103.85 billion, a PE ratio of 39.21, a price-to-earnings-growth ratio of 1.07 and a beta of 1.55. The business has a fifty day simple moving average of $160.06 and a two-hundred day simple moving average of $167.67. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67.
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, beating the consensus estimate of $1.50 by $0.19. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. On average, sell-side analysts forecast that Blackstone Inc. will post 5.87 earnings per share for the current year.
Blackstone Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were given a dividend of $1.44 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.76 dividend on an annualized basis and a yield of 4.05%. This is an increase from Blackstone's previous quarterly dividend of $0.86. Blackstone's dividend payout ratio is currently 158.68%.
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.
Further Reading
Before you consider Blackstone, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Blackstone wasn't on the list.
While Blackstone currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
