Coordinated Financial Services Inc. Buys Shares of 4,264 Blackstone Inc. (NYSE:BX)

Coordinated Financial Services Inc. acquired a new stake in shares of Blackstone Inc. (NYSE:BX - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 4,264 shares of the asset manager's stock, valued at approximately $735,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BX. Raymond James Financial Inc. bought a new position in shares of Blackstone during the fourth quarter valued at $316,257,000. Proficio Capital Partners LLC lifted its holdings in shares of Blackstone by 2,057.7% during the fourth quarter. Proficio Capital Partners LLC now owns 844,755 shares of the asset manager's stock valued at $145,653,000 after acquiring an additional 805,604 shares during the period. Jennison Associates LLC lifted its holdings in shares of Blackstone by 111.1% during the fourth quarter. Jennison Associates LLC now owns 973,348 shares of the asset manager's stock valued at $167,825,000 after acquiring an additional 512,165 shares during the period. Amundi lifted its holdings in shares of Blackstone by 51.0% during the fourth quarter. Amundi now owns 1,430,555 shares of the asset manager's stock valued at $248,723,000 after acquiring an additional 483,362 shares during the period. Finally, Castleark Management LLC bought a new position in shares of Blackstone in the third quarter valued at about $67,472,000. 70.00% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

BX has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods lifted their price target on Blackstone from $174.00 to $177.00 and gave the company a "market perform" rating in a report on Friday, January 31st. Barclays reaffirmed an "equal weight" rating on shares of Blackstone in a report on Friday, February 7th. Piper Sandler lifted their price objective on Blackstone from $168.00 to $179.00 and gave the stock a "neutral" rating in a research report on Monday, December 23rd. BMO Capital Markets lifted their price objective on Blackstone from $134.00 to $157.00 and gave the stock a "market perform" rating in a research report on Thursday, December 19th. Finally, Citigroup reiterated a "hold" rating on shares of Blackstone in a research report on Friday, February 7th. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Blackstone currently has a consensus rating of "Hold" and a consensus target price of $172.38.

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Insider Transactions at Blackstone

In related news, Director Ruth Porat bought 301 shares of Blackstone stock in a transaction dated Tuesday, February 18th. The shares were bought at an average cost of $164.85 per share, with a total value of $49,619.85. Following the acquisition, the director now owns 36,829 shares in the company, valued at $6,071,260.65. This trade represents a 0.82 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.00% of the stock is currently owned by insiders.

Blackstone Stock Down 0.3 %

NYSE BX traded down $0.51 during trading on Friday, hitting $145.12. The stock had a trading volume of 6,476,692 shares, compared to its average volume of 3,295,543. The company has a market capitalization of $105.86 billion, a PE ratio of 39.98, a P/E/G ratio of 1.07 and a beta of 1.55. The company's 50-day moving average price is $169.33 and its two-hundred day moving average price is $167.23. 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 12 month low of $115.82 and a 12 month high of $200.96.

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, beating 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, sell-side analysts forecast that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were issued a $1.44 dividend. This represents a $5.76 dividend on an annualized basis and a yield of 3.97%. This is a positive change from Blackstone's previous quarterly dividend of $0.86. The ex-dividend date was Monday, February 10th. Blackstone's dividend payout ratio is currently 158.68%.

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.