CIBC Asset Management Inc Grows Stock Holdings in Blackstone Inc. (NYSE:BX)

CIBC Asset Management Inc boosted its stake in shares of Blackstone Inc. (NYSE:BX) by 1.3% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 174,558 shares of the asset manager’s stock after purchasing an additional 2,189 shares during the period. CIBC Asset Management Inc’s holdings in Blackstone were worth $30,097,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Bangor Savings Bank boosted its holdings in Blackstone by 187.5% during the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock worth $28,000 after buying an additional 105 shares in the last quarter. Hager Investment Management Services LLC purchased a new stake in shares of Blackstone during the fourth quarter worth approximately $28,000. Roxbury Financial LLC acquired a new stake in Blackstone in the 4th quarter valued at about $34,000. Berbice Capital Management LLC acquired a new stake in shares of Blackstone in the 4th quarter worth $34,000. Finally, Comprehensive Financial Planning Inc. PA acquired a new position in shares of Blackstone during the 4th quarter valued at about $34,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Analyst Ratings Changes

BX has been the topic of several recent analyst reports. UBS Group boosted their target price on shares of Blackstone from $170.00 to $180.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft raised their target price on Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Wells Fargo & Company lowered their price target on Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. Keefe, Bruyette & Woods upped their target price on shares of Blackstone from $174.00 to $177.00 and gave the company a “market perform” rating in a research report on Friday, January 31st. Finally, Citigroup boosted their price target on shares of Blackstone from $170.00 to $190.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Thirteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Blackstone has a consensus rating of “Hold” and an average target price of $172.38.

Blackstone Stock Performance

Shares of BX opened at $165.09 on Tuesday. The stock has a 50-day simple moving average of $176.09 and a 200-day simple moving average of $164.60. 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 1 year low of $115.82 and a 1 year high of $200.96. The stock has a market capitalization of $119.19 billion, a PE ratio of 45.48, a PEG ratio of 1.13 and a beta of 1.53.

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

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th will be issued a $1.44 dividend. This is a boost 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 3.49%. Blackstone’s dividend payout ratio is presently 94.77%.

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.