Pittenger & Anderson Inc. grew its holdings in shares of Blackstone Inc. (NYSE:BX - Free Report) by 144.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,615 shares of the asset manager's stock after purchasing an additional 21,645 shares during the quarter. Pittenger & Anderson Inc.'s holdings in Blackstone were worth $6,313,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. Sather Financial Group Inc raised its holdings in Blackstone by 202.5% in the 3rd quarter. Sather Financial Group Inc now owns 6,050 shares of the asset manager's stock worth $926,000 after acquiring an additional 4,050 shares during the period. Portside Wealth Group LLC bought a new position in shares of Blackstone during the 3rd quarter worth about $201,000. Aljian Capital Management LLC bought a new position in shares of Blackstone during the 3rd quarter worth about $1,951,000. Icon Wealth Advisors LLC increased its holdings in shares of Blackstone by 2,185.4% during the 3rd quarter. Icon Wealth Advisors LLC now owns 18,946 shares of the asset manager's stock worth $2,901,000 after purchasing an additional 18,117 shares during the period. Finally, Wealthcare Capital Partners LLC acquired a new stake in shares of Blackstone during the 4th quarter valued at about $2,102,000. Institutional investors own 70.00% of the company's stock.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on BX shares. BMO Capital Markets lifted their target price on shares of Blackstone from $134.00 to $157.00 and gave the company a "market perform" rating in a research report on Thursday, December 19th. Barclays decreased their target price on shares of Blackstone from $192.00 to $186.00 and set an "equal weight" rating on the stock in a research report on Friday, January 31st. JPMorgan Chase & Co. lifted their target price on shares of Blackstone from $149.00 to $154.00 and gave the company a "neutral" rating in a research report on Friday, January 31st. Deutsche Bank Aktiengesellschaft upped their target price on shares of Blackstone from $172.00 to $182.00 and gave the stock a "buy" rating in a research report on Monday, November 11th. Finally, TD Cowen raised shares of Blackstone from a "hold" rating to a "buy" rating and boosted their price target for the stock from $149.00 to $230.00 in a research note on Monday, December 9th. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $172.38.
View Our Latest Analysis on Blackstone
Blackstone Trading Down 1.8 %
NYSE:BX traded down $3.03 during trading hours on Thursday, hitting $163.83. The stock had a trading volume of 3,199,021 shares, compared to its average volume of 3,296,348. Blackstone Inc. has a one year low of $115.82 and a one year high of $200.96. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67. The company has a market cap of $118.28 billion, a price-to-earnings ratio of 45.13, a P/E/G ratio of 1.09 and a beta of 1.53. The business's 50 day moving average is $174.71 and its 200-day moving average is $165.04.
Blackstone (NYSE:BX - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share 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%. Sell-side analysts anticipate that Blackstone Inc. will post 5.87 EPS for the current fiscal year.
Blackstone Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th were issued a $1.44 dividend. This represents a $5.76 annualized dividend and a dividend yield of 3.52%. The ex-dividend date was Monday, February 10th. This is a boost from Blackstone's previous quarterly dividend of $0.86. Blackstone's dividend payout ratio is 158.68%.
Insider Activity
In other Blackstone news, Director Ruth Porat bought 301 shares of Blackstone stock in a transaction that occurred on Tuesday, February 18th. The stock was acquired at an average price of $164.85 per share, for a total transaction of $49,619.85. Following the completion of the acquisition, the director now owns 36,829 shares of the company's stock, valued at $6,071,260.65. This trade represents a 0.82 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.00% of the company's stock.
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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