UniSuper Management Pty Ltd Has $7.70 Million Position in Blackstone Inc. (NYSE:BX)

UniSuper Management Pty Ltd increased its stake in Blackstone Inc. (NYSE:BX) by 24.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 44,632 shares of the asset manager’s stock after purchasing an additional 8,887 shares during the period. UniSuper Management Pty Ltd’s holdings in Blackstone were worth $7,695,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of BX. Glen Eagle Advisors LLC lifted its holdings in shares of Blackstone by 1.8% during the 3rd quarter. Glen Eagle Advisors LLC now owns 3,251 shares of the asset manager’s stock worth $498,000 after acquiring an additional 59 shares during the period. Avidian Wealth Enterprises LLC boosted its holdings in shares of Blackstone by 0.4% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 16,184 shares of the asset manager’s stock valued at $2,790,000 after purchasing an additional 59 shares in the last quarter. Investmark Advisory Group LLC raised its holdings in shares of Blackstone by 2.4% during the 3rd 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 in the last quarter. McIlrath & Eck LLC boosted its stake in Blackstone by 6.5% in the third quarter. McIlrath & Eck LLC now owns 1,019 shares of the asset manager’s stock valued at $156,000 after buying an additional 62 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. raised its stake in Blackstone by 0.5% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,426 shares of the asset manager’s stock worth $1,970,000 after acquiring an additional 62 shares in the last quarter. Institutional investors own 70.00% of the company’s stock.

Insider Activity

In other news, Director Ruth Porat acquired 301 shares of Blackstone stock in a transaction on Tuesday, February 18th. The stock was purchased at an average price of $164.85 per share, with a total value of $49,619.85. Following the completion of the purchase, the director now owns 36,829 shares of the company’s stock, valued at approximately $6,071,260.65. The trade was a 0.82 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.00% of the stock is currently owned by company insiders.

Blackstone Stock Performance

Shares of BX opened at $144.81 on Friday. The firm’s fifty day simple moving average is $161.69 and its two-hundred day simple moving average is $167.38. Blackstone Inc. has a 12 month low of $115.82 and a 12 month high of $200.96. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $105.62 billion, a P/E ratio of 39.89, a price-to-earnings-growth 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 for the quarter, topping analysts’ consensus estimates of $1.50 by $0.19. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. As a group, analysts predict that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th were issued a dividend of $1.44 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.76 annualized dividend and a dividend yield of 3.98%. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s dividend payout ratio is currently 158.68%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Citigroup reaffirmed a “hold” rating on shares of Blackstone in a report on Friday, February 7th. JPMorgan Chase & Co. increased their price target on Blackstone from $149.00 to $154.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. 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 research report on Thursday, December 19th. 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. Finally, Wells Fargo & Company dropped their price objective on shares of Blackstone from $180.00 to $160.00 and set an “equal weight” rating for the company in a report on Thursday, March 20th. Twelve investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $171.13.

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.