Harbour Capital Advisors LLC Has $559,000 Holdings in Blackstone Inc. (NYSE:BX)

Harbour Capital Advisors LLC grew its position in Blackstone Inc. (NYSE:BX) by 5.0% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 3,175 shares of the asset manager’s stock after purchasing an additional 150 shares during the quarter. Harbour Capital Advisors LLC’s holdings in Blackstone were worth $559,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. West Financial Advisors LLC bought a new position in shares of Blackstone in the 3rd quarter valued at $27,000. Bangor Savings Bank increased its holdings in Blackstone by 187.5% in the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 105 shares during the period. Strategic Investment Solutions Inc. IL bought a new stake in shares of Blackstone in the 2nd quarter valued at $39,000. Raleigh Capital Management Inc. raised its stake in Blackstone by 32.1% during the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after buying an additional 62 shares during the last quarter. Finally, Kieckhefer Group LLC bought a new stake in Blackstone during the fourth quarter valued at $39,000. Institutional investors own 70.00% of the company’s stock.

Insider Buying and Selling

In other news, insider John G. Finley sold 42,249 shares of Blackstone stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $175.94, for a total value of $7,433,289.06. Following the completion of the transaction, the insider now directly owns 387,137 shares in the company, valued at approximately $68,112,883.78. The trade was a 9.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Barclays dropped their price objective on Blackstone from $199.00 to $192.00 and set an “equal weight” rating on the stock in a research note on Monday. Cowen reiterated a “hold” rating on shares of Blackstone in a research note on Friday, October 18th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Wells Fargo & Company downgraded Blackstone from an “overweight” rating to an “equal weight” rating and raised their target price for the company from $188.00 to $195.00 in a research note on Thursday, December 12th. Finally, Morgan Stanley increased their price target on Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Twelve investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $170.50.

Blackstone Stock Down 0.2 %

BX stock traded down $0.27 during trading on Monday, reaching $164.58. The stock had a trading volume of 2,099,157 shares, compared to its average volume of 2,607,009. Blackstone Inc. has a one year low of $114.88 and a one year high of $200.96. The company’s 50 day moving average is $180.73 and its two-hundred day moving average is $156.98. The company has a market capitalization of $118.83 billion, a price-to-earnings ratio of 56.56, a P/E/G ratio of 1.63 and a beta of 1.53. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Thursday, October 17th. The asset manager reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.10. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. The firm had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.37 billion. Equities research analysts forecast that Blackstone Inc. will post 4.43 EPS for the current year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Monday, October 28th were given a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date was Monday, October 28th. This is a boost from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s dividend payout ratio is currently 118.21%.

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.