Harbour Investments Inc. Has $1.43 Million Position in Blackstone Inc. (NYSE:BX)

Harbour Investments Inc. lifted its holdings in Blackstone Inc. (NYSE:BX) by 15.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 8,309 shares of the asset manager’s stock after buying an additional 1,094 shares during the period. Harbour Investments Inc.’s holdings in Blackstone were worth $1,433,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Raymond James Financial Inc. bought a new stake in Blackstone in the 4th quarter valued at about $316,257,000. Proficio Capital Partners LLC increased its position in Blackstone by 2,057.7% in the 4th quarter. Proficio Capital Partners LLC now owns 844,755 shares of the asset manager’s stock valued at $145,653,000 after buying an additional 805,604 shares in the last quarter. Jennison Associates LLC increased its position in Blackstone by 111.1% in the 4th quarter. Jennison Associates LLC now owns 973,348 shares of the asset manager’s stock valued at $167,825,000 after buying an additional 512,165 shares in the last quarter. Amundi increased its position in Blackstone by 51.0% in the 4th quarter. Amundi now owns 1,430,555 shares of the asset manager’s stock valued at $248,723,000 after buying an additional 483,362 shares in the last quarter. Finally, Castleark Management LLC acquired a new position in Blackstone during the 3rd quarter valued at about $67,472,000. 70.00% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

BX has been the subject of a number of analyst reports. Barclays reiterated an “equal weight” rating on shares of Blackstone in a research note on Friday, February 7th. Piper Sandler lifted their price target on Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a research note on Monday, December 23rd. Wells Fargo & Company cut their price target on Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. Citigroup restated a “hold” rating on shares of Blackstone in a research note on Friday, February 7th. Finally, StockNews.com downgraded Blackstone from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Twelve analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $172.38.

Insider Transactions at Blackstone

In other news, Director Ruth Porat purchased 301 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were purchased at an average price of $164.85 per share, with a total value of $49,619.85. Following the completion of the acquisition, the director now owns 36,829 shares in the company, valued at $6,071,260.65. This trade represents a 0.82 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 1.00% of the company’s stock.

Blackstone Price Performance

Blackstone stock opened at $146.11 on Wednesday. The business’s 50 day simple moving average is $164.85 and its 200 day simple moving average is $167.29. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. Blackstone Inc. has a 12 month low of $115.82 and a 12 month high of $200.96. The company has a market cap of $106.58 billion, a price-to-earnings ratio of 40.25, a PEG ratio of 1.07 and a beta of 1.55.

Blackstone (NYSE:BX) last issued its earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.19. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. Sell-side analysts forecast that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were issued a dividend of $1.44 per share. This is a boost 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 yield of 3.94%. Blackstone’s payout ratio is presently 158.68%.

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.