Banque Pictet & Cie SA Acquires 29,652 Shares of Blackstone Inc. (NYSE:BX)

Banque Pictet & Cie SA increased its holdings in Blackstone Inc. (NYSE:BX) by 1,629.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,472 shares of the asset manager’s stock after purchasing an additional 29,652 shares during the quarter. Banque Pictet & Cie SA’s holdings in Blackstone were worth $5,426,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Bangor Savings Bank boosted its position in Blackstone by 187.5% during the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 105 shares in the last quarter. Hager Investment Management Services LLC bought a new stake in Blackstone during the 4th quarter valued at approximately $28,000. Berbice Capital Management LLC bought a new stake in Blackstone during the 4th quarter valued at approximately $34,000. Comprehensive Financial Planning Inc. PA purchased a new position in shares of Blackstone during the fourth quarter valued at approximately $34,000. Finally, Kieckhefer Group LLC purchased a new position in shares of Blackstone during the fourth quarter valued at approximately $39,000. 70.00% of the stock is owned by institutional investors.

Blackstone Price Performance

NYSE BX opened at $165.09 on Friday. The business’s fifty day moving average price is $176.53 and its 200-day moving average price is $164.11. The stock has a market capitalization of $119.20 billion, a price-to-earnings ratio of 45.48, a PEG ratio of 1.13 and a beta of 1.53. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71. Blackstone Inc. has a 1-year low of $115.82 and a 1-year high of $200.96.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 EPS for the quarter, topping the consensus estimate of $1.50 by $0.19. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. On average, equities analysts predict that Blackstone Inc. will post 5.88 earnings per share for the current year.

Blackstone Increases Dividend

The business also recently disclosed 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 represents a $5.76 annualized dividend and a dividend yield of 3.49%. 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. Blackstone’s dividend payout ratio is 158.68%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on BX shares. Barclays lowered their target price on shares of Blackstone from $192.00 to $186.00 and set an “equal weight” rating for the company in a report on Friday, January 31st. Piper Sandler lifted their target price on shares of Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a report on Monday, December 23rd. BMO Capital Markets lifted their target price on shares of Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a report on Thursday, December 19th. Wells Fargo & Company decreased their price objective on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. Finally, Keefe, Bruyette & Woods boosted their price objective 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. Thirteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Blackstone presently has a consensus rating of “Hold” and a consensus price target 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.