Handelsbanken Fonder AB Buys 39,542 Shares of Blackstone Inc. (NYSE:BX)

Handelsbanken Fonder AB increased its holdings in shares of Blackstone Inc. (NYSE:BX) by 17.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 266,414 shares of the asset manager’s stock after acquiring an additional 39,542 shares during the period. Handelsbanken Fonder AB’s holdings in Blackstone were worth $45,935,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its stake in Blackstone by 50.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 144,781 shares of the asset manager’s stock worth $22,170,000 after acquiring an additional 48,601 shares in the last quarter. Raleigh Capital Management Inc. boosted its position in Blackstone by 32.1% in the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock valued at $39,000 after buying an additional 62 shares in the last quarter. Foundations Investment Advisors LLC increased its holdings in shares of Blackstone by 13.2% during the third quarter. Foundations Investment Advisors LLC now owns 42,220 shares of the asset manager’s stock worth $6,465,000 after buying an additional 4,936 shares in the last quarter. Oakworth Capital Inc. grew its position in Blackstone by 5.3% during the 3rd quarter. Oakworth Capital Inc. now owns 1,864 shares of the asset manager’s stock worth $285,000 after acquiring an additional 94 shares during the last quarter. Finally, Signaturefd LLC boosted its stake in Blackstone by 10.4% in the third quarter. Signaturefd LLC now owns 15,036 shares of the asset manager’s stock worth $2,303,000 after purchasing an additional 1,421 shares in the last quarter. Institutional investors own 70.00% of the company’s stock.

Wall Street Analysts Forecast Growth

BX has been the subject of a number of research analyst reports. Barclays cut their price target on Blackstone from $192.00 to $186.00 and set an “equal weight” rating for the company in a report on Friday, January 31st. Keefe, Bruyette & Woods raised their price target on shares of Blackstone from $174.00 to $177.00 and gave the company a “market perform” rating in a report on Friday, January 31st. UBS Group boosted their target price on Blackstone from $170.00 to $180.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Citigroup lifted their target price on shares of Blackstone from $170.00 to $190.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Finally, BMO Capital Markets boosted 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. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $172.38.

Blackstone Stock Up 0.0 %

Shares of Blackstone stock opened at $166.81 on Thursday. Blackstone Inc. has a 52-week low of $115.82 and a 52-week high of $200.96. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67. The business’s 50 day simple moving average is $174.71 and its 200 day simple moving average is $165.04. The firm has a market cap of $120.44 billion, a PE ratio of 45.95, a P/E/G ratio of 1.07 and a beta of 1.53.

Blackstone (NYSE:BX) last announced its earnings results on Thursday, January 30th. The asset manager reported $1.69 EPS for the quarter, topping the consensus estimate of $1.50 by $0.19. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. On average, analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The business 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 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 annualized dividend and a dividend yield of 3.45%. Blackstone’s payout ratio is presently 158.68%.

About Blackstone

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.