TBH Global Asset Management LLC Decreases Stock Position in Blackstone Inc. (NYSE:BX)

TBH Global Asset Management LLC lessened its stake in Blackstone Inc. (NYSE:BX - Free Report) by 13.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,414 shares of the asset manager's stock after selling 1,526 shares during the quarter. TBH Global Asset Management LLC's holdings in Blackstone were worth $1,623,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. International Assets Investment Management LLC grew its stake in shares of Blackstone by 15,357.3% during the 3rd quarter. International Assets Investment Management LLC now owns 4,201,150 shares of the asset manager's stock valued at $6,433,220,000 after purchasing an additional 4,173,971 shares during the period. Jennison Associates LLC grew its stake in shares of Blackstone by 111.1% during the 4th quarter. Jennison Associates LLC now owns 973,348 shares of the asset manager's stock valued at $167,825,000 after purchasing an additional 512,165 shares during the period. Castleark Management LLC bought a new stake in shares of Blackstone during the 3rd quarter valued at about $67,472,000. State Street Corp grew its stake in shares of Blackstone by 1.2% during the 3rd quarter. State Street Corp now owns 30,020,426 shares of the asset manager's stock valued at $4,597,028,000 after purchasing an additional 348,751 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Blackstone by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 14,896,413 shares of the asset manager's stock valued at $2,272,227,000 after acquiring an additional 336,308 shares during the period. Hedge funds and other institutional investors own 70.00% of the company's stock.

Insider Transactions at Blackstone

In related news, Director Ruth Porat acquired 301 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The shares were bought at an average price 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 ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.00% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Barclays cut their price objective on Blackstone from $192.00 to $186.00 and set an "equal weight" rating for the company in a research note on Friday, January 31st. StockNews.com downgraded Blackstone from a "buy" rating to a "hold" rating in a research note on Friday, January 31st. TD Cowen upgraded Blackstone from a "hold" rating to a "buy" rating and boosted their price objective for the company from $149.00 to $230.00 in a research note on Monday, December 9th. Citigroup upped their price target on Blackstone from $170.00 to $190.00 and gave the stock a "neutral" rating in a research note on Friday, January 31st. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Blackstone from $172.00 to $182.00 and gave the stock a "buy" rating in a research note on Monday, November 11th. Thirteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Blackstone presently has an average rating of "Hold" and an average price target of $172.38.

Blackstone Price Performance

Shares of BX traded down $5.86 during mid-day trading on Friday, hitting $158.04. 2,474,199 shares of the stock were exchanged, compared to its average volume of 3,261,204. The firm has a 50-day moving average of $174.18 and a two-hundred day moving average of $165.03. Blackstone Inc. has a 52-week low of $115.82 and a 52-week high of $200.96. The company has a market cap of $114.11 billion, a PE ratio of 43.58, a price-to-earnings-growth ratio of 1.09 and a beta of 1.53. 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 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 return on equity of 19.58% and a net margin of 20.99%. On average, equities analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th were given a dividend of $1.44 per share. This is an increase from Blackstone's previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.64%. Blackstone's dividend payout ratio is presently 158.68%.

Blackstone Profile

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.