DNB Asset Management AS trimmed its holdings in Blackstone Inc. (NYSE:BX – Free Report) by 1.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 263,404 shares of the asset manager’s stock after selling 4,369 shares during the quarter. DNB Asset Management AS’s holdings in Blackstone were worth $40,601,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in BX. Brighton Jones LLC increased its stake in Blackstone by 34.6% in the 4th quarter. Brighton Jones LLC now owns 7,917 shares of the asset manager’s stock worth $1,365,000 after buying an additional 2,035 shares during the period. Sivia Capital Partners LLC increased its holdings in Blackstone by 9.3% during the 2nd quarter. Sivia Capital Partners LLC now owns 2,076 shares of the asset manager’s stock worth $310,000 after purchasing an additional 177 shares during the period. United Bank increased its position in Blackstone by 14.7% during the 2nd quarter. United Bank now owns 13,528 shares of the asset manager’s stock valued at $2,024,000 after purchasing an additional 1,729 shares during the period. Nebula Research & Development LLC purchased a new position in Blackstone during the 2nd quarter valued at about $1,124,000. Finally, Sei Investments Co. increased its holdings in shares of Blackstone by 1.9% in the 2nd quarter. Sei Investments Co. now owns 452,619 shares of the asset manager’s stock valued at $67,703,000 after acquiring an additional 8,655 shares during the period. Hedge funds and other institutional investors own 70.00% of the company’s stock.
Blackstone Stock Down 3.7%
BX stock opened at $117.96 on Friday. The firm’s fifty day simple moving average is $117.10 and its 200-day simple moving average is $134.76. The company has a market capitalization of $87.63 billion, a P/E ratio of 30.17, a price-to-earnings-growth ratio of 1.34 and a beta of 1.63. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.76 and a quick ratio of 0.76. Blackstone Inc. has a 12 month low of $101.73 and a 12 month high of $190.09.
Blackstone Cuts Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, May 11th. Stockholders of record on Monday, May 4th were given a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 3.9%. The ex-dividend date was Monday, May 4th. Blackstone’s dividend payout ratio (DPR) is 118.67%.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on BX shares. Royal Bank Of Canada set a $173.00 price objective on shares of Blackstone in a research report on Friday, April 24th. Oppenheimer lifted their price objective on shares of Blackstone from $154.00 to $156.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Morgan Stanley cut their price objective on shares of Blackstone from $215.00 to $184.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 21st. Evercore restated an “outperform” rating and set a $150.00 target price on shares of Blackstone in a research note on Tuesday, April 21st. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Blackstone from $156.00 to $146.00 and set a “buy” rating on the stock in a research note on Friday, April 24th. Eleven investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $151.36.
Read Our Latest Analysis on BX
Insiders Place Their Bets
In other news, insider Vikrant Sawhney sold 30,014 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $125.79, for a total value of $3,775,461.06. Following the transaction, the insider owned 899,669 shares in the company, valued at $113,169,363.51. This trade represents a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Holdings I. L.P. Blackstone sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $19.00, for a total transaction of $475,000.00. Following the completion of the transaction, the insider directly owned 125,000 shares in the company, valued at approximately $2,375,000. This represents a 16.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have bought 4,015,297 shares of company stock valued at $105,053,996 and have sold 9,128,660 shares valued at $46,457,920. 1.00% of the stock is owned by insiders.
Blackstone Company Profile
Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.
Blackstone’s business is organized around several principal investment platforms.
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