Robeco Institutional Asset Management B.V. Raises Position in Blackstone Inc. (NYSE:BX)

Robeco Institutional Asset Management B.V. grew its holdings in shares of Blackstone Inc. (NYSE:BX) by 67.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,224 shares of the asset manager’s stock after purchasing an additional 11,786 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Blackstone were worth $5,039,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of BX. Bangor Savings Bank boosted its stake 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 acquiring an additional 105 shares in the last quarter. West Financial Advisors LLC purchased a new position in shares of Blackstone in the third quarter valued at $27,000. Berbice Capital Management LLC purchased a new stake in shares of Blackstone in the 4th quarter worth about $34,000. Kieckhefer Group LLC purchased a new position in Blackstone during the 4th quarter valued at about $39,000. Finally, Raleigh Capital Management Inc. lifted its holdings in shares of Blackstone by 32.1% in the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock valued at $39,000 after purchasing an additional 62 shares in the last quarter. 70.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. TD Cowen upgraded Blackstone from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $149.00 to $230.00 in a research report on Monday, December 9th. The Goldman Sachs Group upped their price objective on Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Piper Sandler boosted their target price on shares of Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a research note on Monday, December 23rd. UBS Group lifted their price target on shares of Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Finally, Citigroup lifted their target price on shares of Blackstone from $170.00 to $190.00 and gave the stock a “neutral” rating in a research note on Friday. Thirteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $171.13.

Blackstone Price Performance

Shares of NYSE:BX opened at $176.92 on Monday. The business’s 50 day moving average is $180.15 and its 200-day moving average is $162.43. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $127.74 billion, a PE ratio of 60.80, a PEG ratio of 1.24 and a beta of 1.53. Blackstone Inc. has a 1-year low of $115.82 and a 1-year high of $200.96.

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 analysts’ consensus estimates of $1.50 by $0.19. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. Sell-side analysts predict that Blackstone Inc. will post 4.41 earnings per share for the current year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th will be paid a dividend of $1.44 per share. 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 3.26%. The ex-dividend date is Monday, February 10th. Blackstone’s dividend payout ratio is 158.68%.

Insider Buying and Selling

In other news, insider John G. Finley sold 42,249 shares of the 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 transaction, the insider now owns 387,137 shares of the company’s stock, valued at $68,112,883.78. This represents a 9.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

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.