Blackstone Inc. (NYSE:BX) Shares Sold by Cryder Capital Partners LLP

Cryder Capital Partners LLP lessened its stake in shares of Blackstone Inc. (NYSE:BX) by 35.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 930,877 shares of the asset manager’s stock after selling 514,958 shares during the quarter. Blackstone comprises about 11.7% of Cryder Capital Partners LLP’s portfolio, making the stock its 7th largest holding. Cryder Capital Partners LLP owned approximately 0.13% of Blackstone worth $160,502,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Quilter Plc bought a new position in Blackstone during the fourth quarter worth about $203,000. Comprehensive Financial Planning Inc. PA bought a new position in Blackstone in the 4th quarter valued at about $34,000. Harbour Trust & Investment Management Co increased its holdings in Blackstone by 3.2% in the 4th quarter. Harbour Trust & Investment Management Co now owns 62,146 shares of the asset manager’s stock valued at $10,715,000 after buying an additional 1,920 shares during the period. Angeles Wealth Management LLC increased its holdings in Blackstone by 1.2% in the 4th quarter. Angeles Wealth Management LLC now owns 11,743 shares of the asset manager’s stock valued at $2,025,000 after buying an additional 143 shares during the period. Finally, Focused Wealth Management Inc increased its holdings in Blackstone by 0.4% in the 4th quarter. Focused Wealth Management Inc now owns 49,143 shares of the asset manager’s stock valued at $8,473,000 after buying an additional 201 shares during the period. 70.00% of the stock is owned by institutional investors.

Blackstone Stock Performance

NYSE:BX opened at $170.11 on Monday. The company has a fifty day moving average of $178.36 and a 200-day moving average of $163.62. The firm has a market capitalization of $122.82 billion, a P/E ratio of 46.86, a P/E/G ratio of 1.13 and a beta of 1.53. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. Blackstone Inc. has a twelve month low of $115.82 and a twelve month high of $200.96.

Blackstone (NYSE:BX) last released its quarterly earnings data 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 net margin of 20.99% and a return on equity of 19.58%. As a group, sell-side analysts anticipate that Blackstone Inc. will post 5.88 EPS for the current year.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th will be paid a $1.44 dividend. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend is Monday, February 10th. This represents a $5.76 annualized dividend and a dividend yield of 3.39%. Blackstone’s dividend payout ratio is presently 94.77%.

Analyst Ratings Changes

BX has been the topic of several research reports. Piper Sandler lifted their price target on shares of Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a report on Monday, December 23rd. UBS Group lifted their price target on shares of Blackstone from $170.00 to $180.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Cowen reaffirmed a “hold” rating on shares of Blackstone in a report on Friday, October 18th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Finally, Barclays cut their target price on shares of Blackstone from $192.00 to $186.00 and set an “equal weight” rating on the stock in a research report on Friday, January 31st. Thirteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $172.38.

Blackstone 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.