Blackstone Inc. (NYSE:BX) Shares Bought by Howard Capital Management Inc.

Howard Capital Management Inc. lifted its position in shares of Blackstone Inc. (NYSE:BX) by 6.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 4,637 shares of the asset manager’s stock after acquiring an additional 265 shares during the period. Howard Capital Management Inc.’s holdings in Blackstone were worth $800,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BX. State Street Corp raised its holdings in shares of Blackstone by 1.2% in the third quarter. State Street Corp now owns 30,020,426 shares of the asset manager’s stock worth $4,597,028,000 after acquiring an additional 348,751 shares during the last quarter. Geode Capital Management LLC boosted its stake in Blackstone by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 14,896,413 shares of the asset manager’s stock worth $2,272,227,000 after buying an additional 336,308 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Blackstone by 1.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,931,411 shares of the asset manager’s stock valued at $602,017,000 after acquiring an additional 61,739 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Blackstone by 3.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,430,909 shares of the asset manager’s stock worth $525,375,000 after acquiring an additional 116,367 shares during the last quarter. Finally, FMR LLC increased its position in Blackstone by 6.1% during the third quarter. FMR LLC now owns 2,155,068 shares of the asset manager’s stock worth $330,006,000 after purchasing an additional 124,462 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Buying and Selling at Blackstone

In related news, Director Ruth Porat purchased 301 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were acquired at an average price of $164.85 per share, with a total value of $49,619.85. Following the acquisition, the director now owns 36,829 shares in the company, valued at approximately $6,071,260.65. This trade represents a 0.82 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have recently commented on BX. Piper Sandler upped their price objective on Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a report on Monday, December 23rd. Deutsche Bank Aktiengesellschaft raised their price objective on Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a report on Monday, November 11th. StockNews.com downgraded shares of Blackstone from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. TD Cowen raised shares of Blackstone from a “hold” rating to a “buy” rating and lifted their price target for the company from $149.00 to $230.00 in a research report on Monday, December 9th. Finally, Wells Fargo & Company cut their target price on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. Thirteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $172.38.

Blackstone Stock Down 3.5 %

NYSE:BX opened at $158.21 on Monday. The stock has a 50-day simple moving average of $173.58 and a 200 day simple moving average of $165.74. Blackstone Inc. has a one year low of $115.82 and a one year high of $200.96. The company has a market capitalization of $114.23 billion, a price-to-earnings ratio of 43.58, a price-to-earnings-growth ratio of 1.07 and a beta of 1.53. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67.

Blackstone (NYSE:BX) last posted its quarterly earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.19. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. Sell-side analysts predict that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 10th were paid a dividend of $1.44 per share. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date was Monday, February 10th. This represents a $5.76 annualized dividend and a yield of 3.64%. Blackstone’s dividend payout ratio is 158.68%.

Blackstone Company Profile

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.