206,369 Shares in Blackstone Inc. (NYSE:BX) Acquired by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. acquired a new position in shares of Blackstone Inc. (NYSE:BX) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 206,369 shares of the asset manager’s stock, valued at approximately $35,629,000.

Other institutional investors also recently modified their holdings of the company. Bangor Savings Bank grew its position in shares of Blackstone by 187.5% during the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock worth $28,000 after purchasing an additional 105 shares in the last quarter. Hager Investment Management Services LLC acquired a new stake in Blackstone during the fourth quarter worth approximately $28,000. Centricity Wealth Management LLC acquired a new position in Blackstone in the 4th quarter valued at $30,000. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Blackstone during the 4th quarter worth $33,000. Finally, Berbice Capital Management LLC acquired a new position in Blackstone in the fourth quarter valued at about $34,000. Institutional investors own 70.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. TD Cowen raised shares of Blackstone from a “hold” rating to a “buy” rating and raised their target price for the company from $149.00 to $230.00 in a report on Monday, December 9th. Wells Fargo & Company cut their target price on Blackstone from $180.00 to $160.00 and set an “equal weight” rating for the company in a research note on Thursday, March 20th. StockNews.com cut Blackstone from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Piper Sandler lifted their target price on Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a research report on Monday, December 23rd. Finally, Bank of America reduced their price target on shares of Blackstone from $219.00 to $207.00 and set a “buy” rating on the stock in a research note on Friday. Twelve research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Blackstone presently has a consensus rating of “Hold” and an average price target of $172.06.

Blackstone Trading Down 6.3 %

Shares of Blackstone stock opened at $124.68 on Friday. The stock has a fifty day moving average price of $156.29 and a 200-day moving average price of $167.03. 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 firm has a market cap of $90.94 billion, a PE ratio of 34.35, a P/E/G ratio of 1.07 and a beta of 1.61. Blackstone Inc. has a 1 year low of $115.82 and a 1 year high of $200.96.

Blackstone (NYSE:BX) last released its earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.19. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. Equities research analysts anticipate that Blackstone Inc. will post 5.87 EPS for the current 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 $1.44 dividend. The ex-dividend date was Monday, February 10th. This is a boost from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 annualized dividend and a dividend yield of 4.62%. Blackstone’s payout ratio is 158.68%.

Insider Buying and Selling

In other Blackstone news, Director Ruth Porat purchased 301 shares of the stock in a transaction on Tuesday, February 18th. The shares were purchased at an average price of $164.85 per share, with a total value of $49,619.85. Following the acquisition, the director now directly owns 36,829 shares in the company, valued at approximately $6,071,260.65. The trade was a 0.82 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is currently owned by 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.