Allianz SE Takes $284,000 Position in Blackstone Inc. (NYSE:BX)

Allianz SE bought a new stake in Blackstone Inc. (NYSE:BX) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,650 shares of the asset manager’s stock, valued at approximately $284,000.

Several other institutional investors have also modified their holdings of BX. Glen Eagle Advisors LLC lifted its position in Blackstone by 1.8% in the third quarter. Glen Eagle Advisors LLC now owns 3,251 shares of the asset manager’s stock valued at $498,000 after buying an additional 59 shares during the last quarter. Avidian Wealth Enterprises LLC lifted its holdings in shares of Blackstone by 0.4% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 16,184 shares of the asset manager’s stock worth $2,790,000 after acquiring an additional 59 shares during the last quarter. Investmark Advisory Group LLC increased its holdings in Blackstone by 2.4% in the 3rd 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 last quarter. McIlrath & Eck LLC lifted its stake in Blackstone by 6.5% during the third quarter. McIlrath & Eck LLC now owns 1,019 shares of the asset manager’s stock worth $156,000 after purchasing an additional 62 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. raised its holdings in shares of Blackstone by 0.5% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,426 shares of the asset manager’s stock valued at $1,970,000 after buying an additional 62 shares during the period. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insider Transactions at Blackstone

In other news, Director Ruth Porat purchased 301 shares of the company’s stock in a transaction that occurred 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 purchase, the director now directly owns 36,829 shares of the company’s stock, valued at approximately $6,071,260.65. This represents a 0.82 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on BX shares. BMO Capital Markets raised their price objective on shares of Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a research note on Thursday, December 19th. JPMorgan Chase & Co. lifted their target price on Blackstone from $149.00 to $154.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Wells Fargo & Company cut their target price on shares of Blackstone from $180.00 to $160.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 20th. UBS Group upgraded shares of Blackstone from a “neutral” rating to a “buy” rating and set a $180.00 price objective on the stock in a report on Monday, March 17th. Finally, Keefe, Bruyette & Woods upped their price target on Blackstone from $174.00 to $177.00 and gave the company a “market perform” rating in a report on Friday, January 31st. Twelve 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, the stock currently has an average rating of “Hold” and a consensus target price of $171.13.

Blackstone Trading Down 4.3 %

Shares of Blackstone stock opened at $138.26 on Monday. The business’s fifty day moving average is $160.86 and its two-hundred day moving average is $167.72. Blackstone Inc. has a fifty-two week low of $115.82 and a fifty-two week high of $200.96. The firm has a market cap of $100.85 billion, a PE ratio of 38.09, a P/E/G ratio of 1.07 and a beta of 1.55. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61.

Blackstone (NYSE:BX) last announced its quarterly earnings data 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 net margin of 20.99% and a return on equity of 19.58%. Analysts anticipate that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were paid a dividend of $1.44 per share. This is an increase from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 annualized dividend and a yield of 4.17%. The ex-dividend date was Monday, February 10th. Blackstone’s payout ratio is currently 158.68%.

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.