Ithaka Group LLC Has $15.57 Million Position in Blackstone Inc. (NYSE:BX)

Ithaka Group LLC lessened its stake in shares of Blackstone Inc. (NYSE:BX) by 2.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,324 shares of the asset manager’s stock after selling 2,417 shares during the quarter. Blackstone comprises 2.9% of Ithaka Group LLC’s investment portfolio, making the stock its 13th biggest holding. Ithaka Group LLC’s holdings in Blackstone were worth $15,574,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. OVERSEA CHINESE BANKING Corp Ltd purchased a new position in Blackstone in the 3rd quarter valued at approximately $245,000. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Blackstone by 1.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,591,452 shares of the asset manager’s stock valued at $243,699,000 after purchasing an additional 24,199 shares in the last quarter. Verus Capital Partners LLC raised its position in shares of Blackstone by 2.4% in the third quarter. Verus Capital Partners LLC now owns 5,882 shares of the asset manager’s stock worth $901,000 after buying an additional 136 shares in the last quarter. Ashton Thomas Private Wealth LLC grew its position in Blackstone by 0.7% during the third quarter. Ashton Thomas Private Wealth LLC now owns 21,012 shares of the asset manager’s stock worth $3,218,000 after buying an additional 151 shares in the last quarter. Finally, Savvy Advisors Inc. lifted its position in Blackstone by 29.2% during the third quarter. Savvy Advisors Inc. now owns 2,179 shares of the asset manager’s stock valued at $334,000 after purchasing an additional 492 shares during the last quarter. Institutional investors own 70.00% of the company’s stock.

Blackstone Stock Up 1.7 %

Blackstone stock opened at $140.46 on Thursday. Blackstone Inc. has a fifty-two week low of $115.82 and a fifty-two week high of $200.96. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67. The company has a market cap of $102.46 billion, a PE ratio of 38.70, a PEG ratio of 1.07 and a beta of 1.55. The business’s 50-day simple moving average is $167.34 and its two-hundred day simple moving average is $167.06.

Blackstone (NYSE:BX) last announced its quarterly earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.19. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. Equities analysts anticipate that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 10th were paid a $1.44 dividend. The ex-dividend date was Monday, February 10th. This represents a $5.76 dividend on an annualized basis and a yield of 4.10%. This is a boost from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s dividend payout ratio (DPR) is currently 158.68%.

Analyst Ratings Changes

BX has been the subject of a number of research reports. Piper Sandler upped their price objective on Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a report on Monday, December 23rd. BMO Capital Markets lifted their price objective on Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a report on Thursday, December 19th. TD Cowen upgraded shares of Blackstone from a “hold” rating to a “buy” rating and raised their target price for the stock from $149.00 to $230.00 in a report on Monday, December 9th. JPMorgan Chase & Co. boosted their target price on Blackstone from $149.00 to $154.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Finally, Wells Fargo & Company dropped their price target on Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. Thirteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $172.38.

Insider Transactions at Blackstone

In other Blackstone news, Director Ruth Porat acquired 301 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was bought at an average cost of $164.85 per share, for a total transaction of $49,619.85. Following the completion of the transaction, the director now owns 36,829 shares of the company’s stock, valued at approximately $6,071,260.65. The trade was a 0.82 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.00% of the company’s stock.

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.