Hopwood Financial Services Inc. bought a new stake in Blackstone Inc. (NYSE:BX - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,130 shares of the asset manager's stock, valued at approximately $367,000.
Other institutional investors have also recently bought and sold shares of the company. Bangor Savings Bank raised its holdings in Blackstone by 187.5% during the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager's stock worth $28,000 after acquiring an additional 105 shares in the last quarter. Hager Investment Management Services LLC acquired a new position in Blackstone during the fourth quarter worth $28,000. Centricity Wealth Management LLC acquired a new stake in shares of Blackstone in the fourth quarter valued at approximately $30,000. Roxbury Financial LLC acquired a new position in Blackstone in the 4th quarter valued at about $34,000. Finally, Berbice Capital Management LLC acquired a new position in shares of Blackstone in the fourth quarter valued at about $34,000. Institutional investors own 70.00% of the company's stock.
Analyst Ratings Changes
Several research analysts have commented on BX shares. Keefe, Bruyette & Woods boosted their price objective on shares of Blackstone from $174.00 to $177.00 and gave the company a "market perform" rating in a research report on Friday, January 31st. Citigroup reaffirmed a "hold" rating on shares of Blackstone in a research note on Friday, February 7th. UBS Group reaffirmed a "neutral" rating on shares of Blackstone in a research note on Monday, March 3rd. StockNews.com downgraded Blackstone from a "buy" rating to a "hold" rating in a research note on Friday, January 31st. Finally, BMO Capital Markets lifted their price target on shares of Blackstone from $134.00 to $157.00 and gave the company a "market perform" rating in a research report on Thursday, December 19th. Thirteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, Blackstone presently has a consensus rating of "Hold" and a consensus price target of $172.38.
Check Out Our Latest Analysis on Blackstone
Insiders Place Their Bets
In related news, Director Ruth Porat acquired 301 shares of the firm's stock in a transaction dated Tuesday, February 18th. The shares were purchased at an average cost of $164.85 per share, for a total transaction of $49,619.85. Following the acquisition, the director now owns 36,829 shares in the company, valued at $6,071,260.65. The trade was a 0.82 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is currently owned by company insiders.
Blackstone Price Performance
BX opened at $138.02 on Wednesday. Blackstone Inc. has a 52-week low of $115.82 and a 52-week high of $200.96. The business has a fifty day moving average of $167.98 and a 200 day moving average of $167.25. The stock has a market cap of $100.67 billion, a P/E ratio of 38.02, a PEG ratio of 1.07 and a beta of 1.55. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61.
Blackstone (NYSE:BX - Get Free Report) last issued its quarterly earnings data 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, sell-side analysts anticipate 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. Investors of record on Monday, February 10th were paid a $1.44 dividend. This represents a $5.76 annualized dividend and a dividend yield of 4.17%. 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 currently 158.68%.
About Blackstone
(
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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