NEOS Investment Management LLC grew its stake in shares of Blackstone Inc. (NYSE:BX - Free Report) by 31.3% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 41,769 shares of the asset manager's stock after purchasing an additional 9,954 shares during the period. NEOS Investment Management LLC's holdings in Blackstone were worth $7,202,000 as of its most recent filing with the SEC.
A number of other large investors also recently modified their holdings of the stock. Bangor Savings Bank lifted its position in shares of Blackstone by 187.5% during the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager's stock valued at $28,000 after purchasing an additional 105 shares in the last quarter. Hager Investment Management Services LLC bought a new position in shares of Blackstone during the 4th quarter worth approximately $28,000. Centricity Wealth Management LLC purchased a new stake in shares of Blackstone during the fourth quarter valued at approximately $30,000. Murphy & Mullick Capital Management Corp bought a new stake in shares of Blackstone during the 4th quarter worth $33,000. Finally, Berbice Capital Management LLC bought a new position in Blackstone during the fourth quarter valued at about $34,000. Institutional investors own 70.00% of the company's stock.
Insider Activity
In related news, Director Ruth Porat bought 301 shares of the firm's stock in a transaction on Tuesday, February 18th. The stock was acquired at an average cost of $164.85 per share, for a total transaction of $49,619.85. Following the purchase, the director now owns 36,829 shares in the company, valued at approximately $6,071,260.65. This represents a 0.82 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.00% of the company's stock.
Blackstone Stock Up 1.3 %
Shares of NYSE BX traded up $1.87 during mid-day trading on Tuesday, hitting $141.65. 813,180 shares of the stock traded hands, compared to its average volume of 3,437,457. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67. The stock has a fifty day moving average price of $160.06 and a 200-day moving average price of $167.67. The company has a market cap of $103.32 billion, a price-to-earnings ratio of 38.96, a PEG ratio of 1.07 and a beta of 1.55. Blackstone Inc. has a 52 week low of $115.82 and a 52 week high of $200.96.
Blackstone (NYSE:BX - Get Free Report) last released its earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, beating 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 anticipate that Blackstone Inc. will post 5.87 EPS for the current year.
Blackstone Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were issued a $1.44 dividend. The ex-dividend date was Monday, February 10th. This is a boost from Blackstone's previous quarterly dividend of $0.86. This represents a $5.76 annualized dividend and a yield of 4.07%. Blackstone's payout ratio is 158.68%.
Wall Street Analyst Weigh In
BX has been the subject of several research reports. JPMorgan Chase & Co. increased their price objective on Blackstone from $149.00 to $154.00 and gave the company a "neutral" rating in a report on Friday, January 31st. Keefe, Bruyette & Woods boosted their price objective on Blackstone from $174.00 to $177.00 and gave the company a "market perform" rating in a research note on Friday, January 31st. TD Cowen upgraded shares of Blackstone from a "hold" rating to a "buy" rating and lifted their target price for the stock from $149.00 to $230.00 in a research note on Monday, December 9th. Piper Sandler lifted their price objective on shares of Blackstone from $168.00 to $179.00 and gave the company a "neutral" rating in a research note on Monday, December 23rd. Finally, Citigroup reaffirmed a "hold" rating on shares of Blackstone in a report on Friday, February 7th. Twelve equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Blackstone presently has an average rating of "Hold" and a consensus target price of $171.13.
View Our Latest Stock Analysis on BX
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.
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