People s United Financial Inc. raised its holdings in Blackstone Inc. (NYSE:BX – Get Rating) by 9.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 16,964 shares of the asset manager’s stock after buying an additional 1,509 shares during the period. People s United Financial Inc.’s holdings in Blackstone were worth $2,195,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of BX. Bell Investment Advisors Inc bought a new position in shares of Blackstone in the 3rd quarter valued at about $26,000. Assetmark Inc. grew its position in shares of Blackstone by 86.1% in the 3rd quarter. Assetmark Inc. now owns 294 shares of the asset manager’s stock valued at $34,000 after acquiring an additional 136 shares during the period. Logan Capital Management Inc. grew its position in shares of Blackstone by 96.8% in the 3rd quarter. Logan Capital Management Inc. now owns 305 shares of the asset manager’s stock valued at $35,000 after acquiring an additional 150 shares during the period. Earnest Partners LLC bought a new stake in shares of Blackstone during the 4th quarter worth about $40,000. Finally, Quadrant Capital Group LLC boosted its holdings in shares of Blackstone by 41.9% during the 4th quarter. Quadrant Capital Group LLC now owns 335 shares of the asset manager’s stock worth $43,000 after buying an additional 99 shares during the period. Hedge funds and other institutional investors own 63.68% of the company’s stock.
Shares of NYSE:BX opened at $107.90 on Wednesday. The firm has a 50 day moving average of $113.67 and a 200-day moving average of $122.99. The stock has a market capitalization of $75.61 billion, a PE ratio of 14.70, a PEG ratio of 1.11 and a beta of 1.38. The company has a current ratio of 0.77, a quick ratio of 0.70 and a debt-to-equity ratio of 0.41. Blackstone Inc. has a 12 month low of $90.96 and a 12 month high of $149.78.
The business also recently disclosed a quarterly dividend, which was paid on Monday, May 9th. Investors of record on Monday, May 2nd were given a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a yield of 4.89%. This is a boost from Blackstone’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend was Friday, April 29th. Blackstone’s dividend payout ratio is currently 71.93%.
In other Blackstone news, major shareholder Holdings L.P. Blackstone III sold 52,900 shares of the company’s stock in a transaction that occurred on Tuesday, March 1st. The shares were sold at an average price of $61.23, for a total value of $3,239,067.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Tactical Opportunit Blackstone purchased 2,500,000 shares of the firm’s stock in a transaction on Friday, April 29th. The stock was acquired at an average price of $4.00 per share, with a total value of $10,000,000.00. Following the completion of the transaction, the insider now owns 26,839,187 shares in the company, valued at approximately $107,356,748. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 2,510,050 shares of company stock valued at $11,184,437 and have sold 1,090,152 shares valued at $66,040,454. 1.00% of the stock is owned by corporate insiders.
Several analysts recently commented on BX shares. Bank of America lifted their target price on shares of Blackstone from $172.00 to $180.00 and gave the stock a “buy” rating in a report on Friday, April 22nd. Zacks Investment Research raised shares of Blackstone from a “sell” rating to a “hold” rating and set a $125.00 target price for the company in a report on Thursday, April 7th. StockNews.com began coverage on shares of Blackstone in a report on Thursday, March 31st. They set a “hold” rating for the company. BMO Capital Markets boosted their price objective on shares of Blackstone from $124.00 to $142.00 and gave the company an “outperform” rating in a report on Friday, April 22nd. Finally, Wells Fargo & Company boosted their price objective on shares of Blackstone from $120.00 to $122.00 and gave the company an “equal weight” rating in a report on Friday, April 22nd. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Blackstone currently has an average rating of “Hold” and a consensus price target of $139.55.
Blackstone Company 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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