Aster Capital Management DIFC Ltd Grows Stock Position in Blackstone Inc. (NYSE:BX)

Aster Capital Management DIFC Ltd raised its stake in Blackstone Inc. (NYSE:BX) by 556.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 8,819 shares of the asset manager’s stock after purchasing an additional 7,475 shares during the quarter. Blackstone accounts for 0.6% of Aster Capital Management DIFC Ltd’s portfolio, making the stock its 24th biggest position. Aster Capital Management DIFC Ltd’s holdings in Blackstone were worth $1,521,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Wealthcare Capital Partners LLC purchased a new position in shares of Blackstone in the fourth quarter valued at about $2,102,000. Highland Capital Management LLC increased its holdings in Blackstone by 214.2% during the 4th quarter. Highland Capital Management LLC now owns 22,303 shares of the asset manager’s stock valued at $3,845,000 after purchasing an additional 15,205 shares during the period. Nordea Investment Management AB lifted its holdings in Blackstone by 8.8% in the 4th quarter. Nordea Investment Management AB now owns 58,229 shares of the asset manager’s stock worth $10,053,000 after buying an additional 4,688 shares during the period. Vanguard Group Inc. increased its stake in shares of Blackstone by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 66,894,632 shares of the asset manager’s stock valued at $11,533,972,000 after buying an additional 889,286 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in Blackstone by 6.1% in the third quarter. Principal Financial Group Inc. now owns 909,698 shares of the asset manager’s stock worth $139,302,000 after acquiring an additional 51,897 shares during the period. Institutional investors own 70.00% of the company’s stock.

Insider Activity at Blackstone

In other news, Director Ruth Porat bought 301 shares of the stock in a transaction on Tuesday, February 18th. The shares were bought at an average price of $164.85 per share, with a total value of $49,619.85. Following the completion of the acquisition, the director now owns 36,829 shares in the company, 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 SEC, which is accessible through this hyperlink. 1.00% of the stock is owned by insiders.

Blackstone Trading Down 6.3 %

Shares of NYSE BX opened at $124.68 on Friday. Blackstone Inc. has a 52-week low of $115.82 and a 52-week high of $200.96. The company has a market cap of $90.94 billion, a PE ratio of 34.35, a P/E/G ratio of 1.07 and a beta of 1.61. The firm’s 50 day moving average price is $156.29 and its 200-day moving average price is $167.11. 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 earnings results on Thursday, January 30th. The asset manager reported $1.69 EPS for the quarter, topping 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, equities research analysts expect that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th were paid a $1.44 dividend. The ex-dividend date of this dividend was Monday, February 10th. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 dividend on an annualized basis and a dividend yield of 4.62%. Blackstone’s payout ratio is currently 158.68%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on BX. Keefe, Bruyette & Woods upped their price objective on shares of Blackstone from $174.00 to $177.00 and gave the stock a “market perform” rating in a report on Friday, January 31st. UBS Group upgraded shares of Blackstone from a “neutral” rating to a “buy” rating and set a $180.00 price objective for the company in a report on Monday, March 17th. JPMorgan Chase & Co. increased their target price on Blackstone from $149.00 to $154.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Citigroup reaffirmed a “hold” rating on shares of Blackstone in a research note on Friday, February 7th. Finally, Barclays restated an “equal weight” rating on shares of Blackstone in a report on Friday, February 7th. Twelve research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $172.06.

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.