Bestgate Wealth Advisors LLC acquired a new position in shares of Blackstone Inc. (NYSE:BX - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,941 shares of the asset manager's stock, valued at approximately $335,000.
A number of other large investors also recently modified their holdings of the stock. Bangor Savings Bank grew its holdings in shares of Blackstone by 187.5% in the fourth 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 shares of Blackstone during the 4th quarter worth $28,000. Centricity Wealth Management LLC bought a new position in Blackstone during the fourth quarter valued at about $30,000. Berbice Capital Management LLC bought a new stake in Blackstone in the fourth quarter worth about $34,000. Finally, Comprehensive Financial Planning Inc. PA bought a new position in shares of Blackstone during the 4th quarter valued at approximately $34,000. Institutional investors own 70.00% of the company's stock.
Blackstone Trading Down 0.1 %
NYSE BX traded down $0.10 on Friday, hitting $148.65. The company's stock had a trading volume of 8,381,116 shares, compared to its average volume of 3,280,093. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. Blackstone Inc. has a 52-week low of $115.82 and a 52-week high of $200.96. The firm has a market cap of $108.43 billion, a P/E ratio of 40.95, a PEG ratio of 1.07 and a beta of 1.55. The company's 50-day simple moving average is $163.53 and its 200 day simple moving average is $167.28.
Blackstone (NYSE:BX - Get Free Report) last issued 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 net margin of 20.99% and a return on equity of 19.58%. Research analysts predict that Blackstone Inc. will post 5.87 EPS for the current fiscal year.
Blackstone Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th were given a $1.44 dividend. The ex-dividend date was Monday, February 10th. This represents a $5.76 annualized dividend and a dividend yield of 3.87%. This is a positive change from Blackstone's previous quarterly dividend of $0.86. Blackstone's dividend payout ratio is currently 158.68%.
Insider Activity at Blackstone
In other Blackstone news, Director Ruth Porat acquired 301 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The shares were acquired at an average price of $164.85 per share, with a total value of $49,619.85. Following the completion of the purchase, the director now directly owns 36,829 shares of the company's stock, valued at approximately $6,071,260.65. The trade was a 0.82 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.00% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
A number of brokerages have recently commented on BX. Citigroup reaffirmed a "hold" rating on shares of Blackstone in a research report on Friday, February 7th. StockNews.com lowered shares of Blackstone from a "buy" rating to a "hold" rating in a research report on Friday, January 31st. TD Cowen upgraded shares of Blackstone from a "hold" rating to a "buy" rating and raised their price objective for the company from $149.00 to $230.00 in a research report on Monday, December 9th. JPMorgan Chase & Co. upped their target price on Blackstone from $149.00 to $154.00 and gave the stock a "neutral" rating in a research note on Friday, January 31st. Finally, Wells Fargo & Company lowered their price objective on shares of Blackstone from $180.00 to $160.00 and set an "equal weight" rating for the company in a report on Thursday. Twelve investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $171.13.
View Our Latest Report on Blackstone
Blackstone Profile
(
Free Report)
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.
Further Reading
Before you consider Blackstone, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Blackstone wasn't on the list.
While Blackstone currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
