Scotia Capital Inc. trimmed its stake in Blackstone Inc. (NYSE:BX - Free Report) by 3.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 72,745 shares of the asset manager's stock after selling 2,871 shares during the period. Scotia Capital Inc.'s holdings in Blackstone were worth $12,543,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently modified their holdings of the business. F M Investments LLC increased its position in shares of Blackstone by 53.1% during the fourth quarter. F M Investments LLC now owns 52,973 shares of the asset manager's stock worth $9,134,000 after purchasing an additional 18,376 shares in the last quarter. CenterBook Partners LP acquired a new stake in shares of Blackstone during the fourth quarter worth about $8,740,000. DRW Securities LLC purchased a new position in Blackstone in the fourth quarter valued at $1,361,000. APG Asset Management N.V. acquired a new stake in shares of Blackstone in the 4th quarter valued at $65,588,000. Finally, Advisory Services Network LLC increased its holdings in shares of Blackstone by 26.7% in the 4th quarter. Advisory Services Network LLC now owns 60,243 shares of the asset manager's stock valued at $10,387,000 after acquiring an additional 12,677 shares during the last quarter. Hedge funds and other institutional investors own 70.00% of the company's stock.
Analysts Set New Price Targets
A number of brokerages have recently commented on BX. Bank of America reduced their target price on shares of Blackstone from $219.00 to $207.00 and set a "buy" rating for the company in a report on Friday, April 4th. TD Cowen decreased their price target on Blackstone from $233.00 to $147.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Citizens Jmp upgraded shares of Blackstone from a "market perform" rating to an "outperform" rating and set a $165.00 target price for the company in a research report on Tuesday, April 8th. BMO Capital Markets boosted their target price on shares of Blackstone from $134.00 to $157.00 and gave the company a "market perform" rating in a research note on Thursday, December 19th. Finally, Morgan Stanley decreased their price objective on Blackstone from $222.00 to $150.00 and set an "overweight" rating on the stock in a report on Monday. Eleven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $155.72.
Check Out Our Latest Report on BX
Blackstone Trading Down 1.9 %
Shares of BX stock traded down $2.53 on Wednesday, hitting $131.01. 1,618,455 shares of the company's stock traded hands, compared to its average volume of 3,705,527. 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 Inc. has a one year low of $115.66 and a one year high of $200.96. The company's fifty day simple moving average is $147.39 and its 200 day simple moving average is $165.32. The stock has a market capitalization of $95.56 billion, a price-to-earnings ratio of 36.09, a P/E/G ratio of 1.07 and a beta of 1.61.
Blackstone (NYSE:BX - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 earnings per share for the quarter, beating 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 forecast that Blackstone Inc. will post 5.87 EPS for the current year.
Blackstone Increases Dividend
The firm also recently announced 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. This represents a $5.76 annualized dividend and a dividend yield of 4.40%. The ex-dividend date was Monday, February 10th. This is a positive change from Blackstone's previous quarterly dividend of $0.86. Blackstone's payout ratio is 158.68%.
Insider Buying and Selling at Blackstone
In related news, Director Ruth Porat bought 301 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were acquired at an average price 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 $6,071,260.65. This trade represents a 0.82 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.00% of the stock is currently owned by corporate insiders.
About Blackstone
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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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