Elo Mutual Pension Insurance Co Has $11.33 Million Stock Position in Blackstone Inc. (NYSE:BX)

Elo Mutual Pension Insurance Co trimmed its stake in shares of Blackstone Inc. (NYSE:BX) by 3.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 65,713 shares of the asset manager’s stock after selling 2,207 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Blackstone were worth $11,330,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BX. Glen Eagle Advisors LLC grew its position in Blackstone by 1.8% during the 3rd quarter. Glen Eagle Advisors LLC now owns 3,251 shares of the asset manager’s stock worth $498,000 after acquiring an additional 59 shares during the last quarter. Avidian Wealth Enterprises LLC increased its stake in shares of Blackstone by 0.4% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 16,184 shares of the asset manager’s stock worth $2,790,000 after buying an additional 59 shares during the period. Investmark Advisory Group LLC boosted its position in Blackstone by 2.4% during the 3rd quarter. Investmark Advisory Group LLC now owns 2,608 shares of the asset manager’s stock valued at $399,000 after buying an additional 60 shares during the period. McIlrath & Eck LLC increased its position in shares of Blackstone by 6.5% in the third quarter. McIlrath & Eck LLC now owns 1,019 shares of the asset manager’s stock valued at $156,000 after acquiring an additional 62 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. boosted its holdings in shares of Blackstone by 0.5% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,426 shares of the asset manager’s stock worth $1,970,000 after purchasing an additional 62 shares during the period. 70.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on BX. Piper Sandler increased their price objective on Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a report on Monday, December 23rd. StockNews.com lowered shares of Blackstone from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Barclays reaffirmed an “equal weight” rating on shares of Blackstone in a research note on Friday, February 7th. Keefe, Bruyette & Woods lifted their price objective on Blackstone from $174.00 to $177.00 and gave the company a “market perform” rating in a research report on Friday, January 31st. Finally, Citigroup restated a “hold” rating on shares of Blackstone in a research note on Friday, February 7th. Twelve equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $171.13.

Insider Buying and Selling

In related news, Director Ruth Porat purchased 301 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was bought at an average cost of $164.85 per share, for a total transaction of $49,619.85. Following the completion of the transaction, the director now directly owns 36,829 shares in the company, valued at $6,071,260.65. This represents a 0.82 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.00% of the stock is currently owned by company insiders.

Blackstone Trading Down 2.9 %

Shares of NYSE:BX opened at $146.76 on Thursday. Blackstone Inc. has a 1 year low of $115.82 and a 1 year high of $200.96. The stock’s fifty day moving average price is $162.33 and its 200-day moving average price is $167.54. 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 has a market cap of $107.05 billion, a P/E ratio of 40.43, a PEG ratio of 1.07 and a beta of 1.55.

Blackstone (NYSE:BX) last released its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 earnings per share 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%. Sell-side analysts expect that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 10th were issued a $1.44 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.76 annualized dividend and a yield of 3.92%. This is an increase from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s dividend payout ratio is currently 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.