Harbour Trust & Investment Management Co Has $10.72 Million Stake in Blackstone Inc. (NYSE:BX)

Harbour Trust & Investment Management Co increased its stake in shares of Blackstone Inc. (NYSE:BX) by 3.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,146 shares of the asset manager’s stock after buying an additional 1,920 shares during the quarter. Blackstone accounts for 1.2% of Harbour Trust & Investment Management Co’s investment portfolio, making the stock its 22nd largest holding. Harbour Trust & Investment Management Co’s holdings in Blackstone were worth $10,715,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Brookstone Capital Management boosted its stake in Blackstone by 4.2% during the third quarter. Brookstone Capital Management now owns 5,994 shares of the asset manager’s stock valued at $918,000 after buying an additional 244 shares during the period. CWM LLC grew its stake in Blackstone by 5.2% in the 3rd quarter. CWM LLC now owns 40,876 shares of the asset manager’s stock worth $6,259,000 after buying an additional 2,031 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of Blackstone by 317.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 5,362 shares of the asset manager’s stock worth $821,000 after acquiring an additional 4,076 shares during the last quarter. Valeo Financial Advisors LLC increased its position in shares of Blackstone by 13.7% during the 3rd quarter. Valeo Financial Advisors LLC now owns 14,021 shares of the asset manager’s stock valued at $2,147,000 after purchasing an additional 1,693 shares during the last quarter. Finally, Ritholtz Wealth Management boosted its stake in shares of Blackstone by 10.5% in the 3rd quarter. Ritholtz Wealth Management now owns 10,239 shares of the asset manager’s stock valued at $1,568,000 after purchasing an additional 969 shares in the last quarter. 70.00% of the stock is owned by hedge funds and other institutional investors.

Blackstone Trading Down 2.5 %

Blackstone stock opened at $170.11 on Monday. The stock has a 50-day moving average price of $178.36 and a 200 day moving average price of $163.62. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. The stock has a market cap of $122.82 billion, a PE ratio of 46.86, a P/E/G ratio of 1.13 and a beta of 1.53. Blackstone Inc. has a 52 week low of $115.82 and a 52 week high of $200.96.

Blackstone (NYSE:BX) last issued its quarterly earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.19. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. Equities research analysts predict that Blackstone Inc. will post 5.88 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Monday, February 10th will be issued a $1.44 dividend. The ex-dividend date is Monday, February 10th. This represents a $5.76 dividend on an annualized basis and a yield of 3.39%. This is a boost from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s dividend payout ratio (DPR) is presently 94.77%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Barclays decreased their price objective on shares of Blackstone from $192.00 to $186.00 and set an “equal weight” rating on the stock in a research report on Friday, January 31st. Citigroup raised their price target on Blackstone from $170.00 to $190.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Bank of America boosted their price target on Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. JPMorgan Chase & Co. increased their price target on Blackstone from $149.00 to $154.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Finally, 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. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $172.38.

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.