Blackstone Inc. (NYSE:BX) Shares Purchased by Zevenbergen Capital Investments LLC

Zevenbergen Capital Investments LLC increased its position in shares of Blackstone Inc. (NYSE:BX) by 14.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,190 shares of the asset manager’s stock after acquiring an additional 2,070 shares during the period. Zevenbergen Capital Investments LLC’s holdings in Blackstone were worth $2,791,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of BX. Raymond James Financial Inc. purchased a new position in shares of Blackstone in the 4th quarter valued at approximately $316,257,000. Vanguard Group Inc. boosted its stake in shares of Blackstone by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 66,894,632 shares of the asset manager’s stock valued at $11,533,972,000 after buying an additional 889,286 shares in the last quarter. Proficio Capital Partners LLC raised its holdings in shares of Blackstone by 2,057.7% in the fourth quarter. Proficio Capital Partners LLC now owns 844,755 shares of the asset manager’s stock worth $145,653,000 after acquiring an additional 805,604 shares during the last quarter. Jennison Associates LLC raised its holdings in shares of Blackstone by 111.1% in the fourth quarter. Jennison Associates LLC now owns 973,348 shares of the asset manager’s stock worth $167,825,000 after acquiring an additional 512,165 shares during the last quarter. Finally, Amundi raised its position in shares of Blackstone by 51.0% in the fourth quarter. Amundi now owns 1,430,555 shares of the asset manager’s stock valued at $248,723,000 after buying an additional 483,362 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Analyst Upgrades and Downgrades

BX has been the topic of a number of recent analyst reports. 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. UBS Group upgraded Blackstone from a “neutral” rating to a “buy” rating and set a $180.00 price target for the company in a research note on Monday, March 17th. Piper Sandler increased their target price on shares of Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a research report on Monday, December 23rd. Wells Fargo & Company decreased their price objective on shares of Blackstone from $180.00 to $160.00 and set an “equal weight” rating for the company in a research note on Thursday. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Blackstone from $174.00 to $177.00 and gave the stock a “market perform” rating in a research note on Friday, January 31st. Twelve investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $171.13.

Blackstone Stock Down 0.1 %

Blackstone stock opened at $148.65 on Monday. The company has a 50-day simple moving average of $163.53 and a 200-day simple moving average of $167.49. The firm has a market capitalization of $108.43 billion, a P/E ratio of 40.95, a P/E/G ratio of 1.07 and a beta of 1.55. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67. Blackstone Inc. has a one year low of $115.82 and a one year high of $200.96.

Blackstone (NYSE:BX) last released its quarterly earnings results on Thursday, January 30th. The asset manager reported $1.69 EPS for the quarter, topping 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%. As a group, equities analysts expect that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The company also recently disclosed 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 was Monday, February 10th. This represents a $5.76 dividend on an annualized basis and a yield of 3.87%. This is an increase from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s dividend payout ratio is currently 158.68%.

Insider Buying and Selling

In other news, Director Ruth Porat acquired 301 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were purchased at an average price of $164.85 per share, for a total transaction of $49,619.85. Following the completion of the acquisition, the director now owns 36,829 shares of the company’s stock, valued at approximately $6,071,260.65. This represents a 0.82 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

About Blackstone

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.