Generali Asset Management SPA SGR Buys New Stake in Blackstone Inc. (NYSE:BX)

Generali Asset Management SPA SGR bought a new stake in Blackstone Inc. (NYSE:BXFree Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 24,056 shares of the asset manager’s stock, valued at approximately $4,148,000.

Several other large investors have also recently bought and sold shares of BX. AMG National Trust Bank acquired a new position in Blackstone in the third quarter valued at $233,000. Drive Wealth Management LLC acquired a new position in Blackstone in the third quarter valued at $214,000. Caprock Group LLC boosted its stake in Blackstone by 58.1% in the third quarter. Caprock Group LLC now owns 6,734 shares of the asset manager’s stock valued at $1,031,000 after acquiring an additional 2,474 shares in the last quarter. Whalen Wealth Management Inc. boosted its stake in Blackstone by 57.8% in the third quarter. Whalen Wealth Management Inc. now owns 6,013 shares of the asset manager’s stock valued at $921,000 after acquiring an additional 2,202 shares in the last quarter. Finally, Vertex Planning Partners LLC acquired a new position in Blackstone in the third quarter valued at $338,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Wells Fargo & Company decreased their price objective on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. Barclays reiterated an “equal weight” rating on shares of Blackstone in a research note on Friday, February 7th. UBS Group upgraded shares of Blackstone from a “neutral” rating to a “buy” rating and set a $180.00 target price for the company in a research note on Monday. BMO Capital Markets increased their target price on shares of Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a research note on Thursday, December 19th. Finally, JPMorgan Chase & Co. increased their target price on shares of Blackstone from $149.00 to $154.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Twelve research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Blackstone presently has an average rating of “Hold” and an average target price of $172.38.

Get Our Latest Stock Analysis on Blackstone

Insider Transactions at Blackstone

In other news, Director Ruth Porat bought 301 shares of the stock in a transaction on Tuesday, February 18th. The stock was purchased at an average cost of $164.85 per share, with a total value of $49,619.85. Following the purchase, the director now owns 36,829 shares of the company’s stock, valued at approximately $6,071,260.65. The trade was a 0.82 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.00% of the company’s stock.

Blackstone Trading Down 1.1 %

Shares of Blackstone stock opened at $146.11 on Wednesday. Blackstone Inc. has a 12-month low of $115.82 and a 12-month high of $200.96. 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 stock has a market cap of $106.58 billion, a PE ratio of 40.25, a price-to-earnings-growth ratio of 1.07 and a beta of 1.55. The company has a 50-day moving average of $164.85 and a two-hundred day moving average of $167.29.

Blackstone (NYSE:BXGet Free Report) last issued its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 earnings per share 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%. On average, research analysts anticipate 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. Stockholders of record on Monday, February 10th were paid a dividend of $1.44 per share. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.94%. This is a boost from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Monday, February 10th. Blackstone’s dividend payout ratio (DPR) is 158.68%.

Blackstone Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Blackstone (NYSE:BX)

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