Mitsubishi UFJ Asset Management Co. Ltd. Grows Holdings in Blackstone Inc. (NYSE:BX)

Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Blackstone Inc. (NYSE:BX) by 9.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,147,797 shares of the asset manager’s stock after purchasing an additional 96,396 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Blackstone were worth $201,909,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BX. Korea Investment CORP grew its stake in Blackstone by 40.5% in the fourth quarter. Korea Investment CORP now owns 391,893 shares of the asset manager’s stock worth $67,570,000 after purchasing an additional 112,900 shares in the last quarter. Foundation Wealth Management LLC PA bought a new position in Blackstone during the 4th quarter worth about $250,000. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund raised its holdings in shares of Blackstone by 20.5% in the 4th quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund now owns 220,202 shares of the asset manager’s stock valued at $37,967,000 after purchasing an additional 37,487 shares in the last quarter. Ausdal Financial Partners Inc. lifted its holdings in Blackstone by 118.2% during the fourth quarter. Ausdal Financial Partners Inc. now owns 13,924 shares of the asset manager’s stock worth $2,401,000 after buying an additional 7,544 shares during the period. Finally, Financial Engines Advisors L.L.C. purchased a new position in Blackstone in the fourth quarter valued at about $537,000. Institutional investors own 70.00% of the company’s stock.

Blackstone Price Performance

Blackstone stock opened at $146.76 on Thursday. The company has a fifty day simple moving average of $162.33 and a 200-day simple moving average of $167.54. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $107.05 billion, a price-to-earnings ratio of 40.43, a PEG ratio of 1.07 and a beta of 1.55. Blackstone Inc. has a 52-week low of $115.82 and a 52-week high of $200.96.

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

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th were paid 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 dividend yield of 3.92%. Blackstone’s dividend payout ratio is 158.68%.

Insider Activity at Blackstone

In related news, Director Ruth Porat bought 301 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was purchased at an average price of $164.85 per share, for a total transaction 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. This trade represents a 0.82 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 1.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. 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, March 17th. Piper Sandler raised their price target on shares of Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a research report on Monday, December 23rd. 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. Finally, Citigroup reaffirmed a “hold” rating on shares of Blackstone in a report on Friday, February 7th. Twelve research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $171.13.

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.