Nordea Investment Management AB Purchases 4,688 Shares of Blackstone Inc. (NYSE:BX)

Nordea Investment Management AB boosted its holdings in shares of Blackstone Inc. (NYSE:BX) by 8.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 58,229 shares of the asset manager’s stock after buying an additional 4,688 shares during the period. Nordea Investment Management AB’s holdings in Blackstone were worth $10,053,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Glen Eagle Advisors LLC raised its stake 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 purchasing an additional 59 shares in the last quarter. Investmark Advisory Group LLC raised its position in shares of Blackstone by 2.4% during the 3rd quarter. Investmark Advisory Group LLC now owns 2,608 shares of the asset manager’s stock valued at $399,000 after buying an additional 60 shares in the last quarter. Raleigh Capital Management Inc. grew its position in Blackstone by 32.1% in the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after acquiring an additional 62 shares in the last quarter. Capital Advisors Ltd. LLC raised its position in Blackstone by 2.3% during the third quarter. Capital Advisors Ltd. LLC now owns 2,787 shares of the asset manager’s stock valued at $427,000 after purchasing an additional 62 shares in the last quarter. Finally, Fidelis Capital Partners LLC boosted its holdings in shares of Blackstone by 2.7% in the 3rd quarter. Fidelis Capital Partners LLC now owns 2,374 shares of the asset manager’s stock worth $396,000 after purchasing an additional 62 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors.

Blackstone Price Performance

BX stock opened at $174.06 on Thursday. The firm has a 50-day moving average of $180.67 and a 200 day moving average of $156.12. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71. The company has a market cap of $125.67 billion, a P/E ratio of 59.81, a PEG ratio of 1.63 and a beta of 1.53. Blackstone Inc. has a 1 year low of $114.88 and a 1 year high of $200.96.

Blackstone (NYSE:BX) last released its quarterly earnings results on Thursday, October 17th. The asset manager reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.10. The company had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.37 billion. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. On average, sell-side analysts forecast that Blackstone Inc. will post 4.43 EPS for the current year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Monday, October 28th were issued a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend was Monday, October 28th. This is a boost from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s dividend payout ratio is 118.21%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. The Goldman Sachs Group upped their target price on Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. TD Cowen raised shares of Blackstone from a “hold” rating to a “buy” rating and increased their target price for the company from $149.00 to $230.00 in a report on Monday, December 9th. StockNews.com lowered shares of Blackstone from a “buy” rating to a “hold” rating in a research report on Wednesday, January 1st. Citigroup boosted their target price on Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Finally, BMO Capital Markets lifted their price target on Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a research note on Thursday, December 19th. Fourteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $171.00.

Insider Transactions at Blackstone

In other Blackstone news, insider John G. Finley sold 42,249 shares of Blackstone stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the completion of the transaction, the insider now owns 387,137 shares in the company, valued at approximately $68,112,883.78. The trade was a 9.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.