Jennison Associates LLC increased its position in shares of Blackstone Inc. (NYSE:BX – Get Rating) by 6.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 993,943 shares of the asset manager’s stock after acquiring an additional 60,422 shares during the quarter. Jennison Associates LLC owned about 0.14% of Blackstone worth $128,606,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in BX. Bell Investment Advisors Inc bought a new position in Blackstone during the 3rd quarter worth approximately $26,000. Assetmark Inc. lifted its stake in Blackstone by 86.1% in the third quarter. Assetmark Inc. now owns 294 shares of the asset manager’s stock valued at $34,000 after buying an additional 136 shares in the last quarter. Logan Capital Management Inc. lifted its stake in Blackstone by 96.8% in the third quarter. Logan Capital Management Inc. now owns 305 shares of the asset manager’s stock valued at $35,000 after buying an additional 150 shares in the last quarter. Earnest Partners LLC bought a new position in Blackstone in the fourth quarter valued at approximately $40,000. Finally, Quadrant Capital Group LLC lifted its stake in Blackstone by 41.9% in the fourth quarter. Quadrant Capital Group LLC now owns 335 shares of the asset manager’s stock valued at $43,000 after buying an additional 99 shares in the last quarter. 61.09% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have weighed in on BX. Deutsche Bank Aktiengesellschaft cut their price target on shares of Blackstone from $186.00 to $182.00 and set a “buy” rating on the stock in a research note on Friday, April 22nd. Zacks Investment Research raised shares of Blackstone from a “sell” rating to a “hold” rating and set a $125.00 price target on the stock in a research note on Thursday, April 7th. Bank of America boosted their price objective on shares of Blackstone from $172.00 to $180.00 and gave the stock a “buy” rating in a research report on Friday, April 22nd. BMO Capital Markets boosted their price objective on shares of Blackstone from $124.00 to $142.00 and gave the stock an “outperform” rating in a research report on Friday, April 22nd. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $155.00 price objective on shares of Blackstone in a research report on Wednesday, April 13th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Blackstone currently has an average rating of “Hold” and a consensus target price of $139.73.
BX traded down $5.33 during trading on Friday, reaching $101.57. 5,109,690 shares of the stock were exchanged, compared to its average volume of 3,841,280. The stock has a market cap of $69.77 billion, a P/E ratio of 13.84, a price-to-earnings-growth ratio of 1.14 and a beta of 1.31. Blackstone Inc. has a twelve month low of $83.75 and a twelve month high of $149.78. The stock’s 50 day moving average price is $118.61 and its two-hundred day moving average price is $126.62. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.70 and a current ratio of 0.70.
Blackstone (NYSE:BX – Get Rating) last issued its earnings results on Thursday, April 21st. The asset manager reported $1.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.07 by $0.48. The business had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $2.54 billion. Blackstone had a net margin of 23.77% and a return on equity of 19.20%. The firm’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.96 earnings per share. Equities research analysts predict that Blackstone Inc. will post 5.71 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, May 9th. Investors of record on Monday, May 2nd will be issued a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a yield of 5.20%. This is an increase from Blackstone’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend is Friday, April 29th. Blackstone’s payout ratio is presently 79.02%.
Blackstone Profile (Get Rating)
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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