Harbor Capital Advisors Inc. Has $2.46 Million Stock Position in Blackstone Inc. (NYSE:BX)

Harbor Capital Advisors Inc. raised its holdings in Blackstone Inc. (NYSE:BX) by 2.5% in the fourth quarter, Holdings Channel reports. The fund owned 14,278 shares of the asset manager’s stock after acquiring an additional 352 shares during the period. Harbor Capital Advisors Inc.’s holdings in Blackstone were worth $2,462,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Quest Partners LLC increased its position in shares of Blackstone by 12,090.0% during the 2nd quarter. Quest Partners LLC now owns 1,219 shares of the asset manager’s stock worth $151,000 after purchasing an additional 1,209 shares during the last quarter. American Century Companies Inc. grew its holdings in Blackstone by 3.5% during the second quarter. American Century Companies Inc. now owns 58,777 shares of the asset manager’s stock worth $7,277,000 after purchasing an additional 2,002 shares during the period. BOKF NA increased its holdings in shares of Blackstone by 12.0% during the 2nd quarter. BOKF NA now owns 8,764 shares of the asset manager’s stock worth $1,085,000 after acquiring an additional 940 shares during the last quarter. DekaBank Deutsche Girozentrale grew its holdings in Blackstone by 7.0% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 182,722 shares of the asset manager’s stock valued at $22,659,000 after buying an additional 11,927 shares in the last quarter. Finally, CoreCap Advisors LLC acquired a new stake in shares of Blackstone during the second quarter worth $365,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Analyst Ratings Changes

BX has been the subject of several analyst reports. Evercore ISI lifted their price objective on shares of Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Wells Fargo & Company cut Blackstone from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $188.00 to $195.00 in a research note on Thursday, December 12th. TD Cowen raised Blackstone from a “hold” rating to a “buy” rating and lifted their price objective for the company from $149.00 to $230.00 in a report on Monday, December 9th. Morgan Stanley raised their price target on Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Twelve equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $171.00.

Blackstone Price Performance

Blackstone stock opened at $165.00 on Friday. The company has a market capitalization of $119.13 billion, a PE ratio of 56.70, a P/E/G ratio of 1.63 and a beta of 1.53. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The stock has a 50-day moving average price of $180.73 and a two-hundred day moving average price of $156.75. Blackstone Inc. has a 12 month low of $114.88 and a 12 month high of $200.96.

Blackstone (NYSE:BX) last posted its earnings results on Thursday, October 17th. The asset manager reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.10. The firm had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.37 billion. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. Analysts expect that Blackstone Inc. will post 4.43 EPS for the current year.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Monday, October 28th were given a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend was Monday, October 28th. This is an increase from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s dividend payout ratio is currently 118.21%.

Insider Transactions at Blackstone

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