Cozad Asset Management Inc. Reduces Stock Position in Blackstone Inc. (NYSE:BX)

Cozad Asset Management Inc. decreased its holdings in Blackstone Inc. (NYSE:BX) by 3.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 96,957 shares of the asset manager’s stock after selling 3,556 shares during the quarter. Blackstone accounts for about 1.6% of Cozad Asset Management Inc.’s investment portfolio, making the stock its 8th largest position. Cozad Asset Management Inc.’s holdings in Blackstone were worth $16,717,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Raymond James Financial Inc. acquired a new position in Blackstone in the 4th quarter worth approximately $316,257,000. Proficio Capital Partners LLC boosted its position in shares of Blackstone by 2,057.7% in the fourth quarter. Proficio Capital Partners LLC now owns 844,755 shares of the asset manager’s stock worth $145,653,000 after buying an additional 805,604 shares during the period. Jennison Associates LLC grew its holdings in shares of Blackstone by 111.1% during the fourth quarter. Jennison Associates LLC now owns 973,348 shares of the asset manager’s stock valued at $167,825,000 after buying an additional 512,165 shares in the last quarter. Amundi lifted its stake in Blackstone by 51.0% in the 4th quarter. Amundi now owns 1,430,555 shares of the asset manager’s stock worth $248,723,000 after acquiring an additional 483,362 shares in the last quarter. Finally, Castleark Management LLC purchased a new position in Blackstone during the 3rd quarter valued at about $67,472,000. 70.00% of the stock is owned by institutional investors and hedge funds.

Blackstone Trading Up 3.3 %

Blackstone stock opened at $141.01 on Monday. The business’s 50-day simple moving average is $165.90 and its 200-day simple moving average is $167.21. Blackstone Inc. has a 52 week low of $115.82 and a 52 week high of $200.96. The firm has a market capitalization of $102.86 billion, a PE ratio of 38.85, a PEG ratio of 1.07 and a beta of 1.55. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 earnings per share (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%. Equities research analysts forecast that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 10th were paid a dividend of $1.44 per share. This represents a $5.76 annualized dividend and a yield of 4.08%. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date was Monday, February 10th. Blackstone’s payout ratio is currently 158.68%.

Analyst Ratings Changes

Several analysts recently commented on BX shares. Citigroup restated a “hold” rating on shares of Blackstone in a report on Friday, February 7th. TD Cowen upgraded shares of Blackstone from a “hold” rating to a “buy” rating and boosted their price target for the company from $149.00 to $230.00 in a report on Monday, December 9th. Barclays reiterated an “equal weight” rating on shares of Blackstone in a report on Friday, February 7th. JPMorgan Chase & Co. upped their target price on Blackstone from $149.00 to $154.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Finally, Wells Fargo & Company lowered their price target on Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. Thirteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Blackstone presently has an average rating of “Hold” and a consensus price target of $172.38.

Insiders Place Their Bets

In other Blackstone news, Director Ruth Porat acquired 301 shares of Blackstone stock in a transaction dated Tuesday, February 18th. The stock was bought at an average cost of $164.85 per share, with a total value of $49,619.85. Following the acquisition, 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 ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.00% of the company’s stock.

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.