Amalgamated Bank boosted its position in shares of Blackstone Inc. (NYSE: BX – Get Rating) by 44.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 60,265 shares of the asset manager’s stock after acquiring an additional 18,560 shares during the period. Amalgamated Bank’s holdings in Blackstone were worth $ 7,798,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in the company. HB Wealth Management LLC bought a new stake in shares of Blackstone during the fourth quarter valued at approximately $ 948,000. Wellington Shields Capital Management LLC raised its position in shares of Blackstone by 3.0% during the fourth quarter. Wellington Shields Capital Management LLC now owns 146,293 shares of the asset manager’s stock valued at $ 18,929,000 after buying an additional 4,255 shares during the last quarter. Advisors Asset Management Inc. raised its position in shares of Blackstone by 61.7% during the fourth quarter. Advisors Asset Management Inc. now owns 22,851 shares of the asset manager’s stock valued at $ 2,957,000 after buying an additional 8,715 shares during the last quarter. Grandeur Peak Global Advisors LLC raised its position in shares of Blackstone by 0.3% during the fourth quarter. Grandeur Peak Global Advisors LLC now owns 77,642 shares of the asset manager’s stock valued at $ 10,046,000 after buying an additional 228 shares during the last quarter. Finally, Citizens National Bank Trust Department bought a new stake in shares of Blackstone during the fourth quarter valued at approximately $ 39,000. Hedge funds and other institutional investors own 63.68% of the company stock.
NYSE BX opened at $ 97.52 on Tuesday. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.41. The company has a fifty day moving average of $ 110.98 and a two-hundred day moving average of $ 120.01. The firm has a market capitalization of $ 68.33 billion, a price-to-earnings ratio of 13.29, a PEG ratio of 1.14 and a beta of 1.37. Blackstone Inc. has a 52 week low of $ 93.59 and a 52 week high of $ 149.78.
Blackstone (NYSE: BX – Get Rating) last posted its quarterly earnings data on Thursday, April 21st. The asset manager reported $ 1.55 EPS for the quarter, topping the consensus estimate of $ 1.08 by $ 0.47. The company had revenue of $ 5.13 billion during the quarter, compared to analyst estimates of $ 2.54 billion. Blackstone had a net margin of 23.77% and a return on equity of 18.77%. Blackstone’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $ 0.96 earnings per share. Equities research analysts anticipate that Blackstone Inc. will post 5.71 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, May 9th. Stockholders of record on Monday, May 2nd were given a dividend of $ 1.32 per share. This represents a $ 5.28 annualized dividend and a dividend yield of 5.41%. This is an increase 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 71.93%.
Several equities research analysts have recently issued reports on the stock. Jefferies Financial Group reiterated a “buy” rating and set a $ 155.00 price objective on shares of Blackstone in a research report on Wednesday, April 13th. Wells Fargo & Company raised their target price on shares of Blackstone from $ 120.00 to $ 122.00 and gave the company an “equal weight” rating in a report on Friday, April 22nd. BMO Capital Markets raised their target price on shares of Blackstone from $ 124.00 to $ 142.00 and gave the company an “outperform” rating in a report on Friday, April 22nd. BNP Paribas lowered shares of Blackstone from an “outperform” rating to a “neutral” rating and set a $ 135.00 target price for the company. in a report on Thursday, April 7th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Blackstone from $ 182.00 to $ 180.00 in a report on Thursday, May 19th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $ 141.00.
In other Blackstone news, Director Ruth Porat bought 5,000 shares of the firm’s stock in a transaction dated Wednesday, April 27th. The stock was acquired at an average cost of $ 109.69 per share, for a total transaction of $ 548,450.00. Following the completion of the transaction, the director now owns 15,942 shares in the company, valued at $ 1,748,677.98. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Holdings LP Blackstone III sold 50,000 shares of Blackstone stock in a transaction dated Wednesday, June 8th. The shares were sold at an average price of $ 35.39, for a total value of $ 1,769,500.00. Following the completion of the sale, the insider now owns 940,493 shares of the company stock, valued at $ 33,284,047.27. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 2,514,376 shares of company stock valued at $ 11,553,227 and have sold 669,650 shares valued at $ 37,169,012. 1.00% of the stock is currently owned by company insiders.
Blackstone Company Profile: (Get Rating)
Blackstone Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary 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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