MetLife Investment Management LLC lifted its stake in Blackstone Inc. (NYSE:BX - Free Report) by 1.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 222,907 shares of the asset manager's stock after purchasing an additional 3,779 shares during the quarter. MetLife Investment Management LLC's holdings in Blackstone were worth $38,434,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also added to or reduced their stakes in the company. Bangor Savings Bank raised its holdings in Blackstone by 187.5% in the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager's stock worth $28,000 after purchasing an additional 105 shares during the period. Hager Investment Management Services LLC purchased a new stake in shares of Blackstone in the fourth quarter worth $28,000. Centricity Wealth Management LLC purchased a new stake in Blackstone in the 4th quarter worth $30,000. Murphy & Mullick Capital Management Corp bought a new position in shares of Blackstone in the fourth quarter worth about $33,000. Finally, Berbice Capital Management LLC bought a new stake in Blackstone during the 4th quarter valued at approximately $34,000. 70.00% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several research analysts have commented on the stock. Bank of America dropped their price objective on shares of Blackstone from $219.00 to $207.00 and set a "buy" rating for the company in a report on Friday, April 4th. Barclays lifted their price objective on Blackstone from $129.00 to $136.00 and gave the stock an "equal weight" rating in a research note on Monday. Morgan Stanley cut their target price on shares of Blackstone from $222.00 to $150.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Citizens Jmp raised shares of Blackstone from a "market perform" rating to an "outperform" rating and set a $165.00 price objective for the company in a research note on Tuesday, April 8th. Finally, Citigroup dropped their price target on shares of Blackstone from $190.00 to $137.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Ten analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, Blackstone has a consensus rating of "Hold" and a consensus target price of $154.82.
Check Out Our Latest Analysis on BX
Blackstone Stock Down 1.2 %
Shares of BX stock traded down $1.62 during trading hours on Friday, reaching $132.93. 2,913,439 shares of the company's stock were exchanged, compared to its average volume of 3,753,567. Blackstone Inc. has a fifty-two week low of $115.66 and a fifty-two week high of $200.96. The stock's 50 day moving average is $142.23 and its 200-day moving average is $164.09. 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 company has a market cap of $96.96 billion, a price-to-earnings ratio of 36.59, a P/E/G ratio of 1.07 and a beta of 1.61.
Blackstone (NYSE:BX - Get Free Report) last released its earnings results on Thursday, April 17th. The asset manager reported $1.09 EPS for the quarter, missing analysts' consensus estimates of $1.22 by ($0.13). The company had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.95 billion. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. During the same quarter last year, the business earned $0.98 earnings per share. Analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.
Blackstone Cuts Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Monday, April 28th will be given a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 2.80%. The ex-dividend date of this dividend is Monday, April 28th. Blackstone's dividend payout ratio is currently 112.05%.
Insider Activity
In other Blackstone news, Director Ruth Porat purchased 301 shares of Blackstone stock in a transaction that occurred on Tuesday, February 18th. The stock was bought at an average price of $164.85 per share, with a total value of $49,619.85. Following the acquisition, the director now owns 36,829 shares of the company's stock, valued at $6,071,260.65. This trade represents a 0.82 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.00% of the company's stock.
About Blackstone
(
Free Report)
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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