Harbor Capital Advisors Inc. increased its position in shares of Blackstone Inc. (NYSE:BX – Free Report) by 2.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,278 shares of the asset manager’s stock after buying an additional 352 shares during the period. Harbor Capital Advisors Inc.’s holdings in Blackstone were worth $2,462,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Glen Eagle Advisors LLC increased its stake in shares of Blackstone by 1.8% in the third quarter. Glen Eagle Advisors LLC now owns 3,251 shares of the asset manager’s stock worth $498,000 after purchasing an additional 59 shares during the period. Investmark Advisory Group LLC lifted its holdings in shares of Blackstone by 2.4% during the third quarter. Investmark Advisory Group LLC now owns 2,608 shares of the asset manager’s stock worth $399,000 after buying an additional 60 shares during the last quarter. Raleigh Capital Management Inc. grew its stake in shares of Blackstone by 32.1% in the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after acquiring an additional 62 shares during the last quarter. Capital Advisors Ltd. LLC raised its stake in Blackstone by 2.3% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 2,787 shares of the asset manager’s stock valued at $427,000 after purchasing an additional 62 shares during the last quarter. Finally, Fidelis Capital Partners LLC grew its position in Blackstone by 2.7% in the 3rd quarter. Fidelis Capital Partners LLC now owns 2,374 shares of the asset manager’s stock worth $396,000 after purchasing an additional 62 shares during the last quarter. Institutional investors own 70.00% of the company’s stock.
Analyst Ratings Changes
A number of research firms recently weighed in on BX. BMO Capital Markets lifted their target price on Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a research report on Thursday, December 19th. Wells Fargo & Company cut Blackstone from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $188.00 to $195.00 in a research report on Thursday, December 12th. Barclays lifted their price target on shares of Blackstone from $174.00 to $199.00 and gave the stock an “equal weight” rating in a research note on Monday, December 9th. Keefe, Bruyette & Woods upped their target price on shares of Blackstone from $169.00 to $175.00 and gave the company a “market perform” rating in a research note on Friday, December 20th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a report on Monday, November 11th. Twelve analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $171.00.
Blackstone Trading Down 5.2 %
Shares of NYSE BX opened at $165.00 on Friday. Blackstone Inc. has a 1-year low of $114.88 and a 1-year high of $200.96. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The company has a 50-day moving average of $180.73 and a two-hundred day moving average of $156.75. The company has a market cap of $119.13 billion, a PE ratio of 56.70, a P/E/G ratio of 1.63 and a beta of 1.53.
Blackstone (NYSE:BX – Get Free Report) last announced its quarterly earnings data on Thursday, October 17th. The asset manager reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.10. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. The firm had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.37 billion. As a group, equities analysts expect that Blackstone Inc. will post 4.43 earnings per share for the current fiscal year.
Blackstone Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Monday, October 28th were paid a $0.86 dividend. This represents a $3.44 annualized dividend and a dividend yield of 2.08%. The ex-dividend date was Monday, October 28th. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s dividend payout ratio (DPR) is 118.21%.
Insider Buying and Selling
In other Blackstone news, insider John G. Finley sold 42,249 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $175.94, for a total value of $7,433,289.06. Following the transaction, the insider now owns 387,137 shares of the company’s stock, valued at approximately $68,112,883.78. This represents a 9.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.00% of the stock is currently owned by insiders.
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.
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