Cumberland Partners Ltd Has $2.16 Million Stock Position in Blackstone Inc. (NYSE:BX)

Cumberland Partners Ltd lifted its holdings in shares of Blackstone Inc. (NYSE:BX) by 25.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,500 shares of the asset manager’s stock after buying an additional 2,500 shares during the period. Cumberland Partners Ltd’s holdings in Blackstone were worth $2,155,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of the business. Private Wealth Partners LLC grew its holdings in shares of Blackstone by 3.3% during the 4th quarter. Private Wealth Partners LLC now owns 36,806 shares of the asset manager’s stock valued at $6,346,000 after purchasing an additional 1,172 shares during the last quarter. Jessup Wealth Management Inc bought a new stake in shares of Blackstone during the fourth quarter worth $248,000. Bigelow Investment Advisors LLC boosted its holdings in shares of Blackstone by 7.0% during the 4th quarter. Bigelow Investment Advisors LLC now owns 4,024 shares of the asset manager’s stock valued at $694,000 after acquiring an additional 263 shares in the last quarter. Atlas Legacy Advisors LLC bought a new stake in Blackstone during the 4th quarter worth $526,000. Finally, New York State Common Retirement Fund boosted its stake in shares of Blackstone by 2.3% during the fourth quarter. New York State Common Retirement Fund now owns 894,657 shares of the asset manager’s stock valued at $154,257,000 after purchasing an additional 19,800 shares in the last quarter. 70.00% of the stock is owned by institutional investors and hedge funds.

Blackstone Stock Up 0.0 %

BX stock opened at $166.81 on Thursday. 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 Inc. has a fifty-two week low of $115.82 and a fifty-two week high of $200.96. The stock’s 50 day simple moving average is $174.71 and its 200 day simple moving average is $165.04. The company has a market cap of $120.44 billion, a P/E ratio of 45.95, a price-to-earnings-growth ratio of 1.07 and a beta of 1.53.

Blackstone (NYSE:BX) last posted its quarterly earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, beating 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%. On average, research analysts expect that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 10th were given a $1.44 dividend. This is a boost from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date was Monday, February 10th. This represents a $5.76 annualized dividend and a yield of 3.45%. Blackstone’s dividend payout ratio (DPR) is presently 158.68%.

Analyst Ratings Changes

BX has been the topic of a number of research reports. Keefe, Bruyette & Woods boosted their target price on shares of Blackstone from $174.00 to $177.00 and gave the stock a “market perform” rating in a report on Friday, January 31st. Wells Fargo & Company decreased their price objective on Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. Citigroup upped their price target on Blackstone from $170.00 to $190.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. raised their price objective on Blackstone from $149.00 to $154.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Finally, 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 research report on Monday, December 9th. Thirteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $172.38.

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.