MADDEN SECURITIES Corp acquired a new position in shares of Blackstone Inc. (NYSE:BX – Get Rating) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,090 shares of the asset manager’s stock, valued at approximately $155,000.
Several other institutional investors and hedge funds have also recently modified their holdings of BX. Edgewood Management LLC raised its holdings in shares of Blackstone by 48.7% in the 3rd quarter. Edgewood Management LLC now owns 10,915,509 shares of the asset manager’s stock valued at $913,628,000 after acquiring an additional 3,574,211 shares in the last quarter. Axiom Investors LLC DE grew its position in Blackstone by 185.2% during the 3rd quarter. Axiom Investors LLC DE now owns 1,353,170 shares of the asset manager’s stock worth $113,260,000 after acquiring an additional 878,676 shares during the last quarter. Temasek Holdings Private Ltd lifted its holdings in Blackstone by 3,214.1% in the 3rd quarter. Temasek Holdings Private Ltd now owns 753,130 shares of the asset manager’s stock worth $63,037,000 after buying an additional 730,405 shares during the period. Brown Advisory Inc. lifted its stake in shares of Blackstone by 15.3% in the 2nd quarter. Brown Advisory Inc. now owns 5,497,740 shares of the asset manager’s stock valued at $501,560,000 after purchasing an additional 729,972 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Blackstone by 17.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 4,367,094 shares of the asset manager’s stock valued at $365,526,000 after purchasing an additional 660,166 shares during the period. Hedge funds and other institutional investors own 62.39% of the company’s stock.
Analyst Ratings Changes
A number of research analysts have issued reports on BX shares. Morgan Stanley lifted their price objective on Blackstone from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Monday, January 30th. The Goldman Sachs Group boosted their target price on Blackstone from $86.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday, January 30th. JPMorgan Chase & Co. raised Blackstone from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $104.00 to $105.00 in a research report on Tuesday, January 24th. CICC Research started coverage on Blackstone in a research note on Thursday, January 12th. They set an “outperform” rating for the company. Finally, Wells Fargo & Company boosted their price objective on Blackstone from $95.00 to $103.00 and gave the company an “overweight” rating in a research note on Friday, January 27th. Two analysts have rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $112.33.
Insider Buying and Selling at Blackstone
Blackstone Price Performance
Shares of NYSE:BX traded down $2.37 during trading on Friday, reaching $84.89. The stock had a trading volume of 33,987,863 shares, compared to its average volume of 5,357,988. The business has a fifty day moving average price of $89.93 and a 200-day moving average price of $88.08. The stock has a market cap of $59.96 billion, a PE ratio of 35.82, a PEG ratio of 1.88 and a beta of 1.52. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.97 and a current ratio of 0.97. Blackstone Inc. has a 1-year low of $71.72 and a 1-year high of $132.93.
Blackstone (NYSE:BX – Get Rating) last released its quarterly earnings data on Thursday, January 26th. The asset manager reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.12. The company had revenue of $1.70 billion for the quarter, compared to analyst estimates of $2.62 billion. Blackstone had a return on equity of 19.43% and a net margin of 20.52%. During the same quarter in the previous year, the company posted $1.71 earnings per share. On average, equities analysts forecast that Blackstone Inc. will post 4.66 earnings per share for the current fiscal year.
Blackstone Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, February 13th. Shareholders of record on Monday, February 6th were given a $0.91 dividend. The ex-dividend date of this dividend was Friday, February 3rd. This represents a $3.64 dividend on an annualized basis and a yield of 4.29%. This is an increase from Blackstone’s previous quarterly dividend of $0.90. Blackstone’s payout ratio is currently 153.59%.
Blackstone Company Profile
Blackstone, Inc engages in the provision of investment and fund management services. It operates through the following segments: Real Estate, Private Equity, Credit and Insurance, and Hedge Fund Solutions. The Real Estate segment includes management of opportunistic real estate funds, Core+ real estate funds, high-yield real estate debt funds, and liquid real estate debt funds.
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