United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Grows Stake in Blackstone Inc. (NYSE:BX)

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund grew its position in Blackstone Inc. (NYSE:BX) by 20.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 220,202 shares of the asset manager’s stock after buying an additional 37,487 shares during the quarter. Blackstone accounts for approximately 1.5% of United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund’s holdings, making the stock its 25th biggest holding. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund’s holdings in Blackstone were worth $37,967,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in BX. Vanguard Group Inc. increased its position in Blackstone by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 66,894,632 shares of the asset manager’s stock worth $11,533,972,000 after purchasing an additional 889,286 shares in the last quarter. State Street Corp grew its holdings in shares of Blackstone by 1.2% during the third quarter. State Street Corp now owns 30,020,426 shares of the asset manager’s stock worth $4,597,028,000 after buying an additional 348,751 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Blackstone by 2.3% during the third quarter. Geode Capital Management LLC now owns 14,896,413 shares of the asset manager’s stock valued at $2,272,227,000 after buying an additional 336,308 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Blackstone by 2.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,045,143 shares of the asset manager’s stock worth $697,464,000 after acquiring an additional 113,732 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Blackstone by 3.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,430,909 shares of the asset manager’s stock worth $525,375,000 after purchasing an additional 116,367 shares during the period. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Blackstone

In other Blackstone news, Director Ruth Porat acquired 301 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was acquired at an average cost of $164.85 per share, with a total value of $49,619.85. Following the acquisition, the director now directly owns 36,829 shares of the company’s stock, valued at $6,071,260.65. This represents a 0.82 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on BX shares. Piper Sandler upped their target price on Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a research note on Monday, December 23rd. StockNews.com downgraded shares of Blackstone from a “buy” rating to a “hold” rating in a report on Friday, January 31st. BMO Capital Markets increased 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. JPMorgan Chase & Co. upped their price objective on Blackstone from $149.00 to $154.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Finally, Keefe, Bruyette & Woods boosted their price target on Blackstone from $174.00 to $177.00 and gave the company a “market perform” rating in a research report on Friday, January 31st. Twelve investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Blackstone presently has an average rating of “Hold” and an average price target of $171.13.

Blackstone Stock Performance

NYSE:BX opened at $151.29 on Wednesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71. Blackstone Inc. has a 1-year low of $115.82 and a 1-year high of $200.96. The firm has a 50-day moving average of $162.90 and a two-hundred day moving average of $167.69. The stock has a market cap of $110.35 billion, a P/E ratio of 41.68, a PEG ratio of 1.07 and a beta of 1.55.

Blackstone (NYSE:BX) last announced its earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, beating 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, research analysts expect that Blackstone Inc. will post 5.87 earnings per share 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 given a dividend of $1.44 per share. This is a boost from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date was Monday, February 10th. This represents a $5.76 annualized dividend and a dividend yield of 3.81%. Blackstone’s dividend payout ratio (DPR) is presently 158.68%.

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.