Fishman Jay A Ltd. MI Has $71.78 Million Stake in Blackstone Inc. (NYSE:BX)

Fishman Jay A Ltd. MI lowered its position in Blackstone Inc. (NYSE:BX) by 1.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 416,300 shares of the asset manager’s stock after selling 6,593 shares during the period. Blackstone accounts for 6.7% of Fishman Jay A Ltd. MI’s portfolio, making the stock its 4th largest holding. Fishman Jay A Ltd. MI owned about 0.06% of Blackstone worth $71,778,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. International Assets Investment Management LLC raised its stake 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 worth $6,433,220,000 after acquiring an additional 4,173,971 shares during the last quarter. Jennison Associates LLC raised its position in Blackstone by 111.1% in the 4th quarter. Jennison Associates LLC now owns 973,348 shares of the asset manager’s stock worth $167,825,000 after purchasing an additional 512,165 shares during the last quarter. Castleark Management LLC acquired a new position in Blackstone during the 3rd quarter worth $67,472,000. State Street Corp increased its stake in shares of Blackstone by 1.2% in the 3rd quarter. State Street Corp now owns 30,020,426 shares of the asset manager’s stock valued at $4,597,028,000 after buying an additional 348,751 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Blackstone by 2.3% during the third quarter. Geode Capital Management LLC now owns 14,896,413 shares of the asset manager’s stock valued at $2,272,227,000 after acquiring an additional 336,308 shares during the period. 70.00% of the stock is owned by institutional investors and hedge funds.

Blackstone Stock Performance

NYSE BX opened at $164.80 on Wednesday. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. The firm’s fifty day moving average price is $177.99 and its two-hundred day moving average price is $164.00. The firm has a market capitalization of $118.98 billion, a P/E ratio of 45.40, a price-to-earnings-growth ratio of 1.13 and a beta of 1.53. Blackstone Inc. has a 1 year low of $115.82 and a 1 year high of $200.96.

Blackstone (NYSE:BX) last posted its earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.19. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. As a group, research 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 issued a dividend of $1.44 per share. The ex-dividend date is Monday, February 10th. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.50%. This is an increase from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s dividend payout ratio (DPR) is currently 94.77%.

Analyst Upgrades and Downgrades

BX has been the subject of several recent research reports. BMO Capital Markets boosted their price objective on Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a report on Thursday, December 19th. UBS Group raised their price objective on shares of Blackstone from $170.00 to $180.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. increased their price target on Blackstone from $149.00 to $154.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Bank of America upped their price objective on Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a report on Friday, October 18th. Finally, Citigroup boosted their target price on Blackstone from $170.00 to $190.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Thirteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently 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.