CenterBook Partners LP Buys Shares of 50,690 Blackstone Inc. (NYSE:BX)

CenterBook Partners LP acquired a new position in Blackstone Inc. (NYSE:BX) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 50,690 shares of the asset manager’s stock, valued at approximately $8,740,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Morse Asset Management Inc increased its position in Blackstone by 0.7% in the 3rd quarter. Morse Asset Management Inc now owns 11,232 shares of the asset manager’s stock valued at $1,720,000 after acquiring an additional 80 shares during the period. Wellington Management Group LLP raised its stake in shares of Blackstone by 29.7% during the third quarter. Wellington Management Group LLP now owns 246,998 shares of the asset manager’s stock valued at $37,823,000 after purchasing an additional 56,559 shares in the last quarter. Orion Portfolio Solutions LLC grew its position in Blackstone by 3.6% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 28,456 shares of the asset manager’s stock valued at $4,357,000 after buying an additional 982 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Blackstone during the 3rd quarter worth about $3,225,000. Finally, Nomura Asset Management Co. Ltd. boosted its holdings in shares of Blackstone by 5.6% in the third quarter. Nomura Asset Management Co. Ltd. now owns 403,686 shares of the asset manager’s stock valued at $61,816,000 after acquiring an additional 21,440 shares in the last quarter. 70.00% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Blackstone news, Director Ruth Porat acquired 301 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was bought at an average price of $164.85 per share, for a total transaction of $49,619.85. Following the purchase, the director now owns 36,829 shares in the company, valued at $6,071,260.65. This represents a 0.82 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 1.00% of the company’s stock.

Blackstone Price Performance

NYSE BX opened at $119.67 on Wednesday. The company has a 50 day moving average price of $152.48 and a two-hundred day moving average price of $166.35. Blackstone Inc. has a 12-month low of $115.66 and a 12-month high of $200.96. The stock has a market capitalization of $87.29 billion, a PE ratio of 32.97, a price-to-earnings-growth ratio of 1.07 and a beta of 1.61. 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 posted its earnings results on Thursday, January 30th. The asset manager reported $1.69 EPS 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%. As a group, equities analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th were given a $1.44 dividend. This represents a $5.76 annualized dividend and a dividend yield of 4.81%. This is a boost from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date was Monday, February 10th. Blackstone’s dividend payout ratio is currently 158.68%.

Analysts Set New Price Targets

BX has been the subject of a number of research analyst reports. Wells Fargo & Company cut their target price on Blackstone from $160.00 to $139.00 and set an “equal weight” rating for the company in a research report on Tuesday. Citizens Jmp upgraded shares of Blackstone from a “market perform” rating to an “outperform” rating and set a $165.00 price target on the stock in a research report on Tuesday. Bank of America reduced their target price on shares of Blackstone from $219.00 to $207.00 and set a “buy” rating for the company in a report on Friday, April 4th. Keefe, Bruyette & Woods increased their price target on Blackstone from $174.00 to $177.00 and gave the company a “market perform” rating in a research report on Friday, January 31st. Finally, JMP Securities raised shares of Blackstone from a “market perform” rating to a “market outperform” rating and set a $165.00 price objective for the company in a research note on Tuesday. Eleven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Blackstone currently has an average rating of “Hold” and an average target price of $161.83.

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.