Corps Capital Advisors LLC Makes New $862,000 Investment in Blackstone Inc. (NYSE:BX)

Corps Capital Advisors LLC purchased a new stake in shares of Blackstone Inc. (NYSE:BX - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund purchased 5,000 shares of the asset manager's stock, valued at approximately $862,000.

Several other institutional investors and hedge funds have also recently modified their holdings of BX. International Assets Investment Management LLC increased its stake in Blackstone by 15,357.3% in the 3rd 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 buying an additional 4,173,971 shares during the last quarter. Jennison Associates LLC boosted its holdings in shares of Blackstone by 111.1% in the fourth quarter. Jennison Associates LLC now owns 973,348 shares of the asset manager's stock worth $167,825,000 after acquiring an additional 512,165 shares during the period. Castleark Management LLC purchased a new position in Blackstone during the 3rd quarter valued at about $67,472,000. State Street Corp lifted its stake in Blackstone by 1.2% in the 3rd quarter. State Street Corp now owns 30,020,426 shares of the asset manager's stock worth $4,597,028,000 after purchasing an additional 348,751 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Blackstone by 2.3% during the third quarter. Geode Capital Management LLC now owns 14,896,413 shares of the asset manager's stock worth $2,272,227,000 after buying an additional 336,308 shares in the last quarter. 70.00% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Blackstone

In other Blackstone news, Director Ruth Porat acquired 301 shares of the stock in a transaction on Tuesday, February 18th. The stock was purchased at an average price of $164.85 per share, for a total transaction of $49,619.85. Following the purchase, the director now directly owns 36,829 shares in the company, valued at $6,071,260.65. This trade represents a 0.82 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.00% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Wells Fargo & Company reduced their price objective on Blackstone from $195.00 to $180.00 and set an "equal weight" rating on the stock in a research note on Tuesday, January 14th. Citigroup increased their price target on shares of Blackstone from $170.00 to $190.00 and gave the stock a "neutral" rating in a research note on Friday, January 31st. Deutsche Bank Aktiengesellschaft upped their target price on shares of Blackstone from $172.00 to $182.00 and gave the stock a "buy" rating in a research report on Monday, November 11th. BMO Capital Markets lifted their price objective on Blackstone from $134.00 to $157.00 and gave the company a "market perform" rating in a research note on Thursday, December 19th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Blackstone from $174.00 to $177.00 and gave the company a "market perform" rating in a research note on Friday, January 31st. Thirteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $172.38.

Blackstone Stock Performance

NYSE BX traded down $5.75 during trading hours on Friday, hitting $158.15. The company had a trading volume of 2,575,949 shares, compared to its average volume of 3,268,361. The company has a market cap of $114.18 billion, a PE ratio of 43.53, a price-to-earnings-growth ratio of 1.09 and a beta of 1.53. Blackstone Inc. has a 1-year low of $115.82 and a 1-year high of $200.96. The business has a 50 day moving average of $174.18 and a 200-day moving average of $165.03. 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 - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.50 by $0.19. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. As a group, equities research analysts expect that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were paid a dividend of $1.44 per share. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date was Monday, February 10th. This is a positive change from Blackstone's previous quarterly dividend of $0.86. Blackstone's dividend payout ratio is currently 158.68%.

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.