IPG Investment Advisors LLC lowered its position in shares of Blackstone Inc. (NYSE:BX – Get Rating) by 2.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 3,750 shares of the asset manager’s stock after selling 85 shares during the period. IPG Investment Advisors LLC’s holdings in Blackstone were worth $486,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently added to or reduced their stakes in BX. Bell Investment Advisors Inc bought a new position in Blackstone in the 3rd quarter valued at about $26,000. Assetmark Inc. grew its position in 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 buying an additional 136 shares in the last quarter. Logan Capital Management Inc. grew its position in 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 buying an additional 150 shares in the last quarter. Earnest Partners LLC bought a new position in Blackstone in the 4th quarter valued at about $40,000. Finally, Quadrant Capital Group LLC grew its position in Blackstone by 41.9% in the 4th 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. Institutional investors and hedge funds own 63.68% of the company’s stock.
Shares of BX opened at $121.04 on Friday. Blackstone Inc. has a one year low of $91.39 and a one year high of $149.78. The company has a 50-day moving average of $113.37 and a two-hundred day moving average of $122.44. The stock has a market cap of $84.82 billion, a price-to-earnings ratio of 16.49, a PEG ratio of 1.28 and a beta of 1.38. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.77 and a quick ratio of 0.77.
The company also recently announced a quarterly dividend, which was paid on Monday, May 9th. Shareholders of record on Monday, May 2nd were issued a $1.32 dividend. This represents a $5.28 annualized dividend and a dividend yield of 4.36%. 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 (DPR) is presently 71.93%.
A number of brokerages recently issued reports on BX. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Blackstone from $182.00 to $180.00 in a research report on Thursday, May 19th. Bank of America raised their price objective on shares of Blackstone from $172.00 to $180.00 and gave the company a “buy” rating in a research report on Friday, April 22nd. Jefferies Financial Group restated a “buy” rating and set a $155.00 price objective on shares of Blackstone in a research report on Wednesday, April 13th. Citigroup reduced their price objective on shares of Blackstone from $132.50 to $117.00 and set a “neutral” rating for the company in a research report on Tuesday, April 12th. Finally, Wells Fargo & Company raised their price objective on shares of 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 MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $139.55.
In related news, major shareholder Tactical Opportunit Blackstone purchased 2,500,000 shares of the firm’s stock in a transaction that occurred on Friday, April 29th. The stock was acquired at an average cost of $4.00 per share, for a total transaction of $10,000,000.00. Following the completion of the acquisition, the insider now owns 26,839,187 shares in the company, valued at approximately $107,356,748. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Holdings L.P. Blackstone III sold 52,900 shares of the firm’s stock in a transaction that occurred on Tuesday, March 1st. The stock was sold at an average price of $61.23, for a total transaction of $3,239,067.00. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 2,514,376 shares of company stock valued at $11,553,227 and sold 1,094,388 shares valued at $66,464,520. Company insiders own 1.00% of the company’s stock.
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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