Integrated Wealth Concepts LLC raised its position in Blackstone Inc. (NYSE:BX - Free Report) by 8.7% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 33,344 shares of the asset manager's stock after purchasing an additional 2,673 shares during the period. Integrated Wealth Concepts LLC's holdings in Blackstone were worth $5,749,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of BX. Bangor Savings Bank raised its holdings in shares of Blackstone by 187.5% during the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager's stock worth $28,000 after acquiring an additional 105 shares during the period. Hager Investment Management Services LLC acquired a new position in Blackstone in the 4th quarter valued at about $28,000. Centricity Wealth Management LLC acquired a new stake in shares of Blackstone during the 4th quarter worth approximately $30,000. Roxbury Financial LLC acquired a new position in Blackstone in the fourth quarter valued at approximately $34,000. Finally, Murphy & Mullick Capital Management Corp acquired a new stake in Blackstone during the fourth quarter worth $33,000. Hedge funds and other institutional investors own 70.00% of the company's stock.
Insider Buying and Selling at Blackstone
In related news, Director Ruth Porat purchased 301 shares of the stock in a transaction dated Tuesday, February 18th. The shares were acquired at an average cost of $164.85 per share, with a total value of $49,619.85. Following the purchase, the director now directly 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 legal filing with the SEC, which is available through the SEC website. Company insiders own 1.00% of the company's stock.
Blackstone Stock Performance
NYSE BX traded down $3.62 during trading hours on Wednesday, hitting $129.92. The company had a trading volume of 3,148,156 shares, compared to its average volume of 3,763,232. The business has a 50 day moving average of $140.29 and a 200-day moving average of $163.84. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67. Blackstone Inc. has a 1-year low of $115.66 and a 1-year high of $200.96. The company has a market cap of $94.77 billion, a PE ratio of 35.79, a price-to-earnings-growth ratio of 1.07 and a beta of 1.61.
Blackstone (NYSE:BX - Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The asset manager reported $1.09 earnings per share for the quarter, missing analysts' consensus estimates of $1.22 by ($0.13). Blackstone had a net margin of 20.99% and a return on equity of 19.58%. The firm had revenue of $2.76 billion during the quarter, compared to analysts' expectations of $2.95 billion. During the same quarter in the prior year, the firm posted $0.98 EPS. As a group, equities research analysts expect that Blackstone Inc. will post 5.87 EPS for the current year.
Blackstone Cuts Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Monday, April 28th will be given a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 2.86%. The ex-dividend date of this dividend is Monday, April 28th. Blackstone's dividend payout ratio (DPR) is presently 112.05%.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on the company. Barclays raised their price objective on Blackstone from $129.00 to $136.00 and gave the stock an "equal weight" rating in a research report on Monday, April 21st. JMP Securities reissued a "market outperform" rating and issued a $165.00 target price on shares of Blackstone in a research report on Thursday, April 24th. Morgan Stanley decreased their target price on Blackstone from $222.00 to $150.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Bank of America cut their price target on shares of Blackstone from $219.00 to $207.00 and set a "buy" rating on the stock in a research note on Friday, April 4th. Finally, TD Cowen dropped their price target on shares of Blackstone from $233.00 to $147.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Ten equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Blackstone currently has a consensus rating of "Hold" and a consensus price target of $154.82.
Check Out Our Latest Analysis on Blackstone
Blackstone Profile
(
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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