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

Cumberland Partners Ltd grew its position in Blackstone Inc. (NYSE:BX) by 25.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm 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 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in BX. State Street Corp raised its holdings in shares of Blackstone by 1.2% during the third quarter. State Street Corp now owns 30,020,426 shares of the asset manager’s stock worth $4,597,028,000 after acquiring an additional 348,751 shares during the period. Geode Capital Management LLC raised its stake in shares of Blackstone by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 14,896,413 shares of the asset manager’s stock valued at $2,272,227,000 after purchasing an additional 336,308 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of Blackstone by 15,357.3% in the third quarter. International Assets Investment Management LLC now owns 4,201,150 shares of the asset manager’s stock valued at $6,433,220,000 after purchasing an additional 4,173,971 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Blackstone by 1.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,931,411 shares of the asset manager’s stock worth $602,017,000 after buying an additional 61,739 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Blackstone by 3.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,430,909 shares of the asset manager’s stock valued at $525,375,000 after acquiring an additional 116,367 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on BX. 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 research report on Friday, January 31st. Piper Sandler increased their price objective on shares of Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a research note on Monday, December 23rd. JPMorgan Chase & Co. lifted their target price on Blackstone from $149.00 to $154.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Deutsche Bank Aktiengesellschaft raised their price target on Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, Wells Fargo & Company cut 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. Thirteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $172.38.

Blackstone Stock Performance

BX opened at $166.81 on Thursday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71. The company has a market capitalization of $120.44 billion, a PE ratio of 45.95, a price-to-earnings-growth ratio of 1.07 and a beta of 1.53. The business has a fifty day simple moving average of $174.71 and a 200 day simple moving average of $165.04. Blackstone Inc. has a 1 year low of $115.82 and a 1 year high of $200.96.

Blackstone (NYSE:BX) last issued 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 net margin of 20.99% and a return on equity of 19.58%. Research analysts expect that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th were given a dividend of $1.44 per share. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.45%. This is an increase from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date was Monday, February 10th. Blackstone’s dividend payout ratio is presently 158.68%.

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.