Tredje AP fonden Purchases Shares of 24,584 Blackstone Inc. (NYSE:BX)

Tredje AP fonden bought a new stake in Blackstone Inc. (NYSE:BX) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 24,584 shares of the asset manager’s stock, valued at approximately $4,239,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sather Financial Group Inc increased its position in shares of Blackstone by 202.5% in the third quarter. Sather Financial Group Inc now owns 6,050 shares of the asset manager’s stock valued at $926,000 after acquiring an additional 4,050 shares during the last quarter. Aljian Capital Management LLC bought a new position in Blackstone during the third quarter worth about $1,951,000. Icon Wealth Advisors LLC grew its holdings in Blackstone by 2,185.4% during the third quarter. Icon Wealth Advisors LLC now owns 18,946 shares of the asset manager’s stock worth $2,901,000 after purchasing an additional 18,117 shares during the period. Wealthcare Capital Partners LLC bought a new position in Blackstone during the fourth quarter worth about $2,102,000. Finally, Highland Capital Management LLC grew its holdings in Blackstone by 214.2% during the fourth quarter. Highland Capital Management LLC now owns 22,303 shares of the asset manager’s stock worth $3,845,000 after purchasing an additional 15,205 shares during the period. Institutional investors and hedge funds own 70.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on BX shares. JPMorgan Chase & Co. lifted their price target on Blackstone from $149.00 to $154.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Wells Fargo & Company reduced their price objective on Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. Barclays restated an “equal weight” rating on shares of Blackstone in a report on Friday, February 7th. BMO Capital Markets boosted their price objective on Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a report on Thursday, December 19th. Finally, UBS Group restated a “neutral” rating on shares of Blackstone in a report on Monday, March 3rd. Thirteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $172.38.

Blackstone Stock Down 2.9 %

Shares of BX opened at $136.47 on Friday. The firm has a 50 day simple moving average of $166.60 and a two-hundred day simple moving average of $166.85. The company has a market cap of $99.54 billion, a P/E ratio of 37.60, a P/E/G ratio of 1.07 and a beta of 1.55. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71. Blackstone Inc. has a one year low of $115.82 and a one year high of $200.96.

Blackstone (NYSE:BX) last announced its quarterly earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share (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%. Research analysts forecast that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 10th were paid a $1.44 dividend. This is a boost from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date was Monday, February 10th. This represents a $5.76 annualized dividend and a dividend yield of 4.22%. Blackstone’s payout ratio is currently 158.68%.

Insider Buying and Selling

In other news, Director Ruth Porat purchased 301 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were acquired 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 owns 36,829 shares of the company’s stock, valued at $6,071,260.65. The trade was a 0.82 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is currently owned by insiders.

Blackstone Company 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.