Jennison Associates LLC Has $167.83 Million Holdings in Blackstone Inc. (NYSE:BX)

Jennison Associates LLC grew its position in Blackstone Inc. (NYSE:BX) by 111.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 973,348 shares of the asset manager’s stock after buying an additional 512,165 shares during the quarter. Jennison Associates LLC owned 0.13% of Blackstone worth $167,825,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. West Financial Advisors LLC acquired a new stake in shares of Blackstone in the 3rd quarter valued at $27,000. Bangor Savings Bank raised its stake 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 acquiring an additional 105 shares in the last quarter. Berbice Capital Management LLC acquired a new stake in shares of Blackstone in the 4th quarter valued at approximately $34,000. Raleigh Capital Management Inc. increased its position in Blackstone by 32.1% during the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after purchasing an additional 62 shares in the last quarter. Finally, Kieckhefer Group LLC acquired a new stake in Blackstone in the fourth quarter valued at approximately $39,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Transactions at Blackstone

In related news, insider John G. Finley sold 42,249 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $175.94, for a total value of $7,433,289.06. Following the sale, the insider now directly owns 387,137 shares in the company, valued at approximately $68,112,883.78. The trade was a 9.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.00% of the stock is currently owned by company insiders.

Blackstone Trading Down 0.5 %

NYSE:BX opened at $176.92 on Monday. Blackstone Inc. has a 52 week low of $115.82 and a 52 week high of $200.96. The firm has a 50-day moving average price of $180.15 and a two-hundred day moving average price of $162.63. The firm has a market cap of $127.74 billion, a price-to-earnings ratio of 48.74, a price-to-earnings-growth ratio of 1.18 and a beta of 1.53. 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 (NYSE:BX) last posted its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 earnings per share 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 expect that Blackstone Inc. will post 5.86 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 given a dividend of $1.44 per share. This is an increase from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date of this dividend is Monday, February 10th. Blackstone’s dividend payout ratio is currently 94.77%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on BX. Evercore ISI raised their price objective on Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Citigroup upped their price objective on Blackstone from $170.00 to $190.00 and gave the company a “neutral” rating in a research note on Friday. StockNews.com lowered shares of Blackstone from a “buy” rating to a “hold” rating in a report on Friday. JPMorgan Chase & Co. lifted their price target on shares of Blackstone from $149.00 to $154.00 and gave the stock a “neutral” rating in a report on Friday. Finally, Barclays lowered their target price on Blackstone from $192.00 to $186.00 and set an “equal weight” rating for the company in a research report on Friday. Thirteen investment 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 company presently has a consensus rating of “Hold” and a consensus target price of $171.13.

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.