Harbour Trust & Investment Management Co Grows Holdings in Blackstone Inc. (NYSE:BX)

Harbour Trust & Investment Management Co raised its stake in Blackstone Inc. (NYSE:BX) by 3.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 62,146 shares of the asset manager’s stock after acquiring an additional 1,920 shares during the period. Blackstone makes up 1.2% of Harbour Trust & Investment Management Co’s holdings, making the stock its 22nd biggest holding. Harbour Trust & Investment Management Co’s holdings in Blackstone were worth $10,715,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Sather Financial Group Inc increased its stake in Blackstone by 202.5% during the third quarter. Sather Financial Group Inc now owns 6,050 shares of the asset manager’s stock valued at $926,000 after purchasing an additional 4,050 shares during the last quarter. Portside Wealth Group LLC acquired a new stake in Blackstone in the third quarter worth $201,000. Aljian Capital Management LLC acquired a new position in shares of Blackstone during the third quarter worth approximately $1,951,000. Icon Wealth Advisors LLC grew its stake in shares of Blackstone by 2,185.4% in the third quarter. Icon Wealth Advisors LLC now owns 18,946 shares of the asset manager’s stock worth $2,901,000 after purchasing an additional 18,117 shares in the last quarter. Finally, Highland Capital Management LLC grew its position in Blackstone by 214.2% in the 4th quarter. Highland Capital Management LLC now owns 22,303 shares of the asset manager’s stock valued at $3,845,000 after buying an additional 15,205 shares in the last quarter. Institutional investors own 70.00% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on BX. Wells Fargo & Company decreased their price target on Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. StockNews.com downgraded shares of Blackstone from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Citigroup increased their target price on shares of Blackstone from $170.00 to $190.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Evercore ISI lifted their price target on Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Finally, Bank of America increased their target price on Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a report on Friday, October 18th. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $172.38.

Blackstone Stock Performance

NYSE BX opened at $170.11 on Monday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71. The company’s fifty day moving average is $178.36 and its two-hundred day moving average is $163.62. Blackstone Inc. has a 52-week low of $115.82 and a 52-week high of $200.96. The firm has a market capitalization of $122.82 billion, a price-to-earnings ratio of 46.86, a P/E/G ratio of 1.13 and a beta of 1.53.

Blackstone (NYSE:BX) last announced its quarterly 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 net margin of 20.99% and a return on equity of 19.58%. Equities research analysts forecast that Blackstone Inc. will post 5.88 EPS for the current year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th will be given a $1.44 dividend. This represents a $5.76 annualized dividend and a yield of 3.39%. The ex-dividend date is Monday, February 10th. This is a boost from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s dividend payout ratio (DPR) is presently 94.77%.

Blackstone 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.