Everhart Financial Group Inc. acquired a new stake in Blackstone Inc. (NYSE:BX - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,555 shares of the asset manager's stock, valued at approximately $268,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Sather Financial Group Inc lifted its stake in shares of Blackstone by 202.5% in the 3rd quarter. Sather Financial Group Inc now owns 6,050 shares of the asset manager's stock valued at $926,000 after purchasing an additional 4,050 shares in the last quarter. Portside Wealth Group LLC purchased a new stake in shares of Blackstone during the 3rd quarter valued at about $201,000. Aljian Capital Management LLC purchased a new stake in shares of Blackstone during the 3rd quarter valued at about $1,951,000. Icon Wealth Advisors LLC raised its holdings in shares of Blackstone by 2,185.4% during the 3rd quarter. Icon Wealth Advisors LLC now owns 18,946 shares of the asset manager's stock valued at $2,901,000 after buying an additional 18,117 shares during the period. Finally, Wealthcare Capital Partners LLC purchased a new stake in shares of Blackstone during the 4th quarter valued at about $2,102,000. 70.00% of the stock is owned by institutional investors and hedge funds.
Blackstone Stock Performance
NYSE:BX traded down $5.69 during midday trading on Friday, reaching $158.21. 4,662,276 shares of the company traded hands, compared to its average volume of 3,336,160. Blackstone Inc. has a twelve month low of $115.82 and a twelve month high of $200.96. The firm has a market capitalization of $114.23 billion, a price-to-earnings ratio of 43.58, a price-to-earnings-growth ratio of 1.09 and a beta of 1.53. 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 fifty day moving average price of $173.58 and a 200 day moving average price of $165.23.
Blackstone (NYSE:BX - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 earnings per share (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%. On average, analysts expect that Blackstone Inc. will post 5.87 EPS for the current fiscal 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 given a dividend of $1.44 per share. This represents a $5.76 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date of this dividend was Monday, February 10th. This is a positive change from Blackstone's previous quarterly dividend of $0.86. Blackstone's payout ratio is 158.68%.
Analysts Set New Price Targets
Several equities research analysts recently commented on BX shares. Wells Fargo & Company dropped their target price on Blackstone from $195.00 to $180.00 and set an "equal weight" rating on the stock in a report on Tuesday, January 14th. Deutsche Bank Aktiengesellschaft lifted their price objective on Blackstone from $172.00 to $182.00 and gave the stock a "buy" rating in a report on Monday, November 11th. StockNews.com downgraded Blackstone from a "buy" rating to a "hold" rating in a report on Friday, January 31st. TD Cowen upgraded Blackstone from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $149.00 to $230.00 in a report on Monday, December 9th. Finally, Citigroup lifted their price objective on Blackstone from $170.00 to $190.00 and gave the stock a "neutral" rating in a report on Friday, January 31st. Thirteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, Blackstone currently has an average rating of "Hold" and an average target price of $172.38.
Get Our Latest Research Report on Blackstone
Insiders Place Their Bets
In other Blackstone news, Director Ruth Porat purchased 301 shares of Blackstone stock in a transaction on Tuesday, February 18th. The stock was bought at an average price of $164.85 per share, for a total transaction of $49,619.85. Following the transaction, the director now owns 36,829 shares of the company's stock, valued at $6,071,260.65. The trade was a 0.82 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.00% of the stock is currently owned by insiders.
About Blackstone
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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.
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