Quantbot Technologies LP Grows Stock Position in Blackstone Inc. (NYSE:BX)

Quantbot Technologies LP raised its position in shares of Blackstone Inc. (NYSE:BX - Free Report) by 658.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,383 shares of the asset manager's stock after acquiring an additional 17,697 shares during the period. Quantbot Technologies LP's holdings in Blackstone were worth $3,514,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Summit Global Investments increased its stake in Blackstone by 8.7% in the fourth quarter. Summit Global Investments now owns 1,696 shares of the asset manager's stock worth $292,000 after purchasing an additional 136 shares during the period. Millstone Evans Group LLC bought a new position in shares of Blackstone during the 4th quarter worth $72,000. TD Private Client Wealth LLC raised its holdings in shares of Blackstone by 9.9% in the fourth quarter. TD Private Client Wealth LLC now owns 3,721 shares of the asset manager's stock valued at $642,000 after acquiring an additional 334 shares in the last quarter. Independent Solutions Wealth Management LLC increased its position in Blackstone by 8.8% during the 4th quarter. Independent Solutions Wealth Management LLC now owns 15,779 shares of the asset manager's stock valued at $2,721,000 after purchasing an additional 1,275 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Blackstone by 5.2% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 127,926 shares of the asset manager's stock valued at $22,057,000 after purchasing an additional 6,333 shares in the last quarter. 70.00% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Insider Activity

In related news, Director Ruth Porat purchased 301 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The stock was bought at an average price of $164.85 per share, with a total value of $49,619.85. Following the acquisition, the director now owns 36,829 shares in the company, valued at $6,071,260.65. The trade was a 0.82 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.00% of the company's stock.

Blackstone Stock Performance

NYSE:BX traded down $0.79 during mid-day trading on Tuesday, hitting $151.29. The company's stock had a trading volume of 3,782,403 shares, compared to its average volume of 3,285,742. The business's fifty day moving average is $162.90 and its two-hundred day moving average is $167.69. The stock has a market cap of $110.35 billion, a price-to-earnings ratio of 41.68, a PEG ratio of 1.07 and a beta of 1.55. Blackstone Inc. has a 1 year low of $115.82 and a 1 year 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 announced 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 return on equity of 19.58% and a net margin of 20.99%. Analysts anticipate that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were given a $1.44 dividend. The ex-dividend date was Monday, February 10th. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.81%. This is an increase from Blackstone's previous quarterly dividend of $0.86. Blackstone's dividend payout ratio is 158.68%.

Analyst Ratings Changes

BX has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their price target on Blackstone from $149.00 to $154.00 and gave the company a "neutral" rating in a report on Friday, January 31st. StockNews.com downgraded shares of Blackstone from a "buy" rating to a "hold" rating in a report on Friday, January 31st. Wells Fargo & Company cut their price objective on shares of Blackstone from $180.00 to $160.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 20th. UBS Group upgraded shares of Blackstone from a "neutral" rating to a "buy" rating and set a $180.00 target price for the company in a research note on Monday, March 17th. Finally, Piper Sandler increased their price target on Blackstone from $168.00 to $179.00 and gave the company a "neutral" rating in a research note on Monday, December 23rd. Twelve equities 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, Blackstone presently has an average rating of "Hold" and an average price target of $171.13.

About Blackstone

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.