Nordea Investment Management AB Boosts Stock Holdings in Blackstone Inc. (NYSE:BX)

Nordea Investment Management AB grew its holdings in Blackstone Inc. (NYSE:BX) by 8.8% in the fourth quarter, Holdings Channel reports. The firm owned 58,229 shares of the asset manager’s stock after buying an additional 4,688 shares during the quarter. Nordea Investment Management AB’s holdings in Blackstone were worth $10,053,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Glen Eagle Advisors LLC lifted its stake in Blackstone by 1.8% during the 3rd quarter. Glen Eagle Advisors LLC now owns 3,251 shares of the asset manager’s stock valued at $498,000 after acquiring an additional 59 shares during the period. Investmark Advisory Group LLC lifted its position in Blackstone by 2.4% during the third quarter. Investmark Advisory Group LLC now owns 2,608 shares of the asset manager’s stock valued at $399,000 after purchasing an additional 60 shares during the period. Raleigh Capital Management Inc. grew its position in Blackstone by 32.1% in the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after purchasing an additional 62 shares during the period. Capital Advisors Ltd. LLC lifted its holdings in shares of Blackstone by 2.3% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 2,787 shares of the asset manager’s stock valued at $427,000 after buying an additional 62 shares during the period. Finally, Fidelis Capital Partners LLC grew its holdings in shares of Blackstone by 2.7% in the third quarter. Fidelis Capital Partners LLC now owns 2,374 shares of the asset manager’s stock worth $396,000 after acquiring an additional 62 shares during the period. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insider Activity

In other news, insider John G. Finley sold 42,249 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $175.94, for a total value of $7,433,289.06. Following the completion of the sale, the insider now owns 387,137 shares in the company, valued at approximately $68,112,883.78. This trade represents a 9.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on BX shares. Morgan Stanley raised their target price on Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. StockNews.com cut shares of Blackstone from a “buy” rating to a “hold” rating in a report on Wednesday, January 1st. Keefe, Bruyette & Woods boosted their price objective on shares of Blackstone from $169.00 to $175.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. Evercore ISI raised their target price on Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Finally, BMO Capital Markets upped their price target on Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a research report on Thursday, December 19th. Fourteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $171.00.

Blackstone Trading Up 1.6 %

Shares of BX stock opened at $174.06 on Thursday. The stock’s 50-day moving average price is $180.67 and its 200-day moving average price is $156.12. Blackstone Inc. has a 12-month low of $114.88 and a 12-month high of $200.96. The stock has a market capitalization of $125.67 billion, a price-to-earnings ratio of 59.81, a price-to-earnings-growth ratio of 1.63 and a beta of 1.53. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58.

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

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Monday, October 28th were paid a dividend of $0.86 per share. This is a boost from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend was Monday, October 28th. Blackstone’s payout ratio is presently 118.21%.

Blackstone Company 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.