Vaughan David Investments LLC IL boosted its position in Blackstone Inc. (NYSE:BX – Get Rating) by 77.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,900 shares of the asset manager’s stock after purchasing an additional 1,700 shares during the quarter. Vaughan David Investments LLC IL’s holdings in Blackstone were worth $505,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in BX. Marshall Wace LLP bought a new position in Blackstone in the first quarter worth about $50,000. Morgan Stanley increased its holdings in shares of Blackstone by 9.0% during the second quarter. Morgan Stanley now owns 20,477,273 shares of the asset manager’s stock valued at $1,989,163,000 after acquiring an additional 1,691,281 shares in the last quarter. First Horizon Advisors Inc. increased its holdings in shares of Blackstone by 168.9% during the third quarter. First Horizon Advisors Inc. now owns 726 shares of the asset manager’s stock valued at $73,000 after acquiring an additional 456 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Blackstone by 50.9% during the third quarter. Principal Financial Group Inc. now owns 151,869 shares of the asset manager’s stock valued at $17,668,000 after acquiring an additional 51,195 shares in the last quarter. Finally, Banque Pictet & Cie SA acquired a new position in shares of Blackstone during the third quarter valued at about $204,000. Institutional investors and hedge funds own 63.68% of the company’s stock.
Blackstone stock traded up $8.40 during mid-day trading on Friday, hitting $107.82. The company had a trading volume of 6,445,827 shares, compared to its average volume of 4,861,327. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.36. Blackstone Inc. has a 12-month low of $85.65 and a 12-month high of $149.78. The company’s fifty day moving average is $114.63 and its 200-day moving average is $124.79. The company has a market capitalization of $75.55 billion, a price-to-earnings ratio of 14.69, a P/E/G ratio of 1.02 and a beta of 1.38.
The firm also recently announced a quarterly dividend, which was paid on Monday, May 9th. Stockholders of record on Monday, May 2nd were paid a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a dividend yield of 4.90%. This is an increase 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 presently 71.93%.
Several equities analysts have recently issued reports on the stock. StockNews.com assumed coverage on shares of Blackstone in a report on Thursday, March 31st. They set a “hold” rating on the stock. BMO Capital Markets upped their target price on Blackstone from $124.00 to $142.00 and gave the company an “outperform” rating in a research report on Friday, April 22nd. Jefferies Financial Group reiterated a “buy” rating and issued a $155.00 target price on shares of Blackstone in a research report on Wednesday, April 13th. Exane BNP Paribas lowered Blackstone from an “outperform” rating to a “neutral” rating in a research report on Thursday, April 7th. Finally, Wells Fargo & Company upped their target price on Blackstone from $120.00 to $122.00 and gave the company an “equal weight” rating in a research report on Friday, April 22nd. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $139.73.
In other Blackstone news, Director Ruth Porat bought 5,000 shares of the stock in a transaction on Friday, February 25th. The shares were bought at an average price of $126.21 per share, with a total value of $631,050.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Tactical Opportunit Blackstone bought 2,500,000 shares of the company’s stock in a transaction dated Friday, April 29th. The shares were acquired at an average cost of $4.00 per share, with a total value of $10,000,000.00. Following the acquisition, the insider now directly owns 26,839,187 shares of the company’s stock, valued at $107,356,748. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 2,510,094 shares of company stock valued at $11,189,865 and have sold 1,090,152 shares valued at $66,040,454. Corporate insiders own 1.00% of the company’s stock.
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.
- Get a free copy of the StockNews.com research report on Blackstone (BX)
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