SurgoCap Partners LP increased its position in Blackstone Inc. (NYSE:BX – Free Report) by 31.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 2,074,093 shares of the asset manager’s stock after acquiring an additional 491,278 shares during the quarter. Blackstone accounts for approximately 8.9% of SurgoCap Partners LP’s holdings, making the stock its 6th largest holding. SurgoCap Partners LP’s holdings in Blackstone were worth $319,701,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Blackstone by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 71,667,695 shares of the asset manager’s stock worth $11,046,859,000 after acquiring an additional 840,258 shares during the period. Morgan Stanley grew its holdings in Blackstone by 2.0% during the 4th quarter. Morgan Stanley now owns 32,862,165 shares of the asset manager’s stock valued at $5,065,374,000 after buying an additional 636,613 shares during the last quarter. State Street Corp grew its holdings in Blackstone by 0.6% during the 4th quarter. State Street Corp now owns 31,542,009 shares of the asset manager’s stock valued at $4,861,885,000 after buying an additional 179,213 shares during the last quarter. Norges Bank acquired a new stake in Blackstone during the 4th quarter valued at $1,275,747,000. Finally, Northern Trust Corp grew its holdings in Blackstone by 4.7% during the 3rd quarter. Northern Trust Corp now owns 7,324,989 shares of the asset manager’s stock valued at $1,251,474,000 after buying an additional 329,379 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.
Blackstone Price Performance
Shares of Blackstone stock opened at $124.59 on Tuesday. Blackstone Inc. has a twelve month low of $101.73 and a twelve month high of $190.09. The stock has a market capitalization of $92.55 billion, a P/E ratio of 31.86, a PEG ratio of 1.33 and a beta of 1.59. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.66. The business’s fifty day moving average price is $120.21 and its 200 day moving average price is $130.82.
Blackstone Cuts Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, May 11th. Shareholders of record on Monday, May 4th were given a $1.16 dividend. The ex-dividend date of this dividend was Monday, May 4th. This represents a $4.64 annualized dividend and a yield of 3.7%. Blackstone’s dividend payout ratio (DPR) is 118.67%.
Analyst Ratings Changes
A number of equities research analysts have commented on the company. The Goldman Sachs Group lowered their target price on Blackstone from $118.00 to $116.00 and set a “neutral” rating on the stock in a report on Friday, April 24th. Piper Sandler raised their price objective on Blackstone from $122.00 to $130.00 and gave the stock a “neutral” rating in a report on Monday, April 27th. TD Cowen decreased their price objective on Blackstone from $140.00 to $133.00 and set a “buy” rating on the stock in a report on Monday, May 18th. Jefferies Financial Group raised their price objective on Blackstone from $143.00 to $152.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Finally, Zacks Research upgraded Blackstone from a “strong sell” rating to a “hold” rating in a report on Monday, June 8th. Thirteen investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $150.86.
Get Our Latest Research Report on Blackstone
Insider Buying and Selling
In other Blackstone news, insider Vikrant Sawhney sold 30,014 shares of the firm’s stock in a transaction dated 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 directly owned 899,669 shares of the company’s stock, 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 document filed with the SEC, which is available through this hyperlink. Also, major shareholder Holdings Iv Gp Mana Blackstone acquired 2,868,069 shares of the business’s stock in a transaction on Friday, March 20th. The stock was bought at an average cost of $26.15 per share, for a total transaction of $75,000,004.35. Following the completion of the transaction, the insider directly owned 18,628,295 shares of the company’s stock, valued at $487,129,914.25. This trade represents a 18.20% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders purchased 12,355,303 shares of company stock valued at $264,789,896. 1.00% of the stock is owned by company insiders.
Blackstone 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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Want to see what other hedge funds are holding BX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Blackstone Inc. (NYSE:BX – Free Report).
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