Cable Hill Partners LLC Invests $202,000 in Blackstone Inc. (NYSE:BX)

Cable Hill Partners LLC purchased a new position in shares of Blackstone Inc. (NYSE:BX) during the 4th quarter, HoldingsChannel.com reports. The firm purchased 1,173 shares of the asset manager’s stock, valued at approximately $202,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp boosted its holdings in Blackstone by 1.2% in the third quarter. State Street Corp now owns 30,020,426 shares of the asset manager’s stock valued at $4,597,028,000 after acquiring an additional 348,751 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Blackstone by 2.3% in the third quarter. Geode Capital Management LLC now owns 14,896,413 shares of the asset manager’s stock valued at $2,272,227,000 after acquiring an additional 336,308 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Blackstone by 1.6% in the third 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 lifted its stake in 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 valued at $525,375,000 after buying an additional 116,367 shares during the period. Finally, FMR LLC lifted its stake in Blackstone by 6.1% in the third quarter. FMR LLC now owns 2,155,068 shares of the asset manager’s stock valued at $330,006,000 after buying an additional 124,462 shares during the period. 70.00% of the stock is currently owned by institutional investors.

Blackstone Trading Down 1.2 %

NYSE BX opened at $157.52 on Friday. The firm has a market capitalization of $113.73 billion, a P/E ratio of 43.39, a PEG ratio of 1.07 and a beta of 1.53. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. The business has a fifty day simple moving average of $171.97 and a 200 day simple moving average of $166.01. Blackstone Inc. has a 12 month low of $115.82 and a 12 month high of $200.96.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.19. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. On average, 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. Shareholders of record on Monday, February 10th were paid a $1.44 dividend. This represents a $5.76 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date was Monday, February 10th. This is an increase from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s dividend payout ratio is 158.68%.

Analysts Set New Price Targets

Several equities analysts have issued reports on BX shares. Wells Fargo & Company dropped their price target on Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. Deutsche Bank Aktiengesellschaft boosted their price target on Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Citigroup reissued a “hold” rating on shares of Blackstone in a research note on Friday, February 7th. Piper Sandler upped their target price on Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a research report on Monday, December 23rd. Finally, Barclays reaffirmed an “equal weight” rating on shares of Blackstone in a research report on Friday, February 7th. Thirteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $172.38.

Insider Buying and Selling at Blackstone

In other news, Director Ruth Porat purchased 301 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was bought at an average price of $164.85 per share, for a total transaction of $49,619.85. Following the purchase, the director now owns 36,829 shares of the company’s stock, valued at $6,071,260.65. The trade was a 0.82 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.00% of the company’s stock.

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.