Blackstone Inc. (NYSE:BX) Stock Holdings Decreased by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC decreased its position in Blackstone Inc. (NYSE:BX) by 23.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 26,108 shares of the asset manager’s stock after selling 7,976 shares during the period. Concurrent Investment Advisors LLC’s holdings in Blackstone were worth $4,501,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in BX. International Assets Investment Management LLC raised its position in Blackstone by 15,357.3% during the third quarter. International Assets Investment Management LLC now owns 4,201,150 shares of the asset manager’s stock valued at $6,433,220,000 after buying an additional 4,173,971 shares during the period. Jennison Associates LLC grew its stake in Blackstone by 111.1% during the 4th quarter. Jennison Associates LLC now owns 973,348 shares of the asset manager’s stock valued at $167,825,000 after acquiring an additional 512,165 shares in the last quarter. Castleark Management LLC purchased a new stake in shares of Blackstone in the third quarter worth approximately $67,472,000. State Street Corp grew its position in Blackstone by 1.2% during 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 purchasing an additional 348,751 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Blackstone by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 14,896,413 shares of the asset manager’s stock worth $2,272,227,000 after buying an additional 336,308 shares in the last quarter. 70.00% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently weighed in on BX. BMO Capital Markets upped their price target 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. StockNews.com downgraded Blackstone from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Barclays dropped their price objective on Blackstone from $192.00 to $186.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. TD Cowen upgraded shares of Blackstone from a “hold” rating to a “buy” rating and lifted their target price for the company from $149.00 to $230.00 in a research note on Monday, December 9th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Blackstone from $174.00 to $177.00 and gave the company a “market perform” rating in a report on Friday, January 31st. Thirteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $172.38.

Blackstone Stock Performance

BX opened at $163.83 on Friday. Blackstone Inc. has a 12-month low of $115.82 and a 12-month high of $200.96. The firm has a market capitalization of $118.28 billion, a P/E ratio of 45.13, a price-to-earnings-growth ratio of 1.09 and a beta of 1.53. The stock’s 50 day moving average price is $174.18 and its two-hundred day moving average price is $165.03. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61.

Blackstone (NYSE:BX) last released its earnings results on Thursday, January 30th. The asset manager reported $1.69 EPS for the quarter, beating the consensus estimate of $1.50 by $0.19. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. On average, equities analysts forecast that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were issued a $1.44 dividend. This is a boost from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.76 annualized dividend and a yield of 3.52%. Blackstone’s dividend payout ratio is 158.68%.

Insiders Place Their Bets

In other Blackstone news, Director Ruth Porat acquired 301 shares of Blackstone stock in a transaction dated Tuesday, February 18th. The stock was bought at an average cost of $164.85 per share, with a total value of $49,619.85. Following the acquisition, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.00% of the company’s stock.

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.