Sanctuary Advisors LLC lessened its holdings in Blackstone Inc. (NYSE:BX - Free Report) by 2.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 358,907 shares of the asset manager's stock after selling 7,642 shares during the quarter. Sanctuary Advisors LLC's holdings in Blackstone were worth $63,806,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of BX. Bangor Savings Bank boosted its stake in Blackstone by 187.5% during the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager's stock worth $28,000 after acquiring an additional 105 shares during the last quarter. Hager Investment Management Services LLC bought a new position in Blackstone during the 4th quarter worth approximately $28,000. Berbice Capital Management LLC bought a new position in Blackstone during the 4th quarter worth approximately $34,000. Comprehensive Financial Planning Inc. PA bought a new position in Blackstone during the 4th quarter worth approximately $34,000. Finally, Roxbury Financial LLC bought a new position in Blackstone during the 4th quarter worth approximately $34,000. Institutional investors own 70.00% of the company's stock.
Blackstone Stock Down 1.8 %
BX traded down $3.03 during trading on Thursday, reaching $163.83. 3,199,021 shares of the stock were exchanged, compared to its average volume of 3,296,348. The stock has a market cap of $118.28 billion, a P/E ratio of 45.13, a price-to-earnings-growth ratio of 1.09 and a beta of 1.53. Blackstone Inc. has a twelve month low of $115.82 and a twelve month high of $200.96. The stock's 50 day moving average price is $174.71 and its two-hundred day moving average price is $165.04. 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 issued its earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share for the quarter, topping analysts' consensus estimates of $1.50 by $0.19. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. Equities analysts expect 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. Investors of record on Monday, February 10th were issued a dividend of $1.44 per share. This represents a $5.76 dividend on an annualized basis and a yield of 3.52%. This is an increase from Blackstone's previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Monday, February 10th. Blackstone's payout ratio is presently 158.68%.
Insider Buying and Selling
In related news, Director Ruth Porat acquired 301 shares of Blackstone stock in a transaction on Tuesday, February 18th. The stock was purchased at an average cost of $164.85 per share, with a total value of $49,619.85. Following the completion of the transaction, the director now directly owns 36,829 shares in the company, valued at $6,071,260.65. This trade represents a 0.82 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.00% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
BX has been the topic of several recent analyst reports. Wells Fargo & Company reduced their price objective on shares of Blackstone from $195.00 to $180.00 and set an "equal weight" rating on the stock in a research note on Tuesday, January 14th. BMO Capital Markets raised their target price 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 dropped their target price on shares of Blackstone from $192.00 to $186.00 and set an "equal weight" rating on the stock in a report on Friday, January 31st. TD Cowen upgraded shares of Blackstone from a "hold" rating to a "buy" rating and raised their target price for the stock from $149.00 to $230.00 in a report on Monday, December 9th. Finally, JPMorgan Chase & Co. raised their target price on shares of Blackstone from $149.00 to $154.00 and gave the stock a "neutral" rating in a report on Friday, January 31st. Thirteen analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $172.38.
Check Out Our Latest Stock Report on Blackstone
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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