Runnymede Capital Advisors Inc. Purchases New Position in Blackstone Inc. (NYSE:BX)

Runnymede Capital Advisors Inc. bought a new position in shares of Blackstone Inc. (NYSE:BX - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 19,773 shares of the asset manager's stock, valued at approximately $3,409,000. Blackstone makes up about 3.0% of Runnymede Capital Advisors Inc.'s investment portfolio, making the stock its 11th largest holding.

A number of other large investors have also recently made changes to their positions in the company. Bangor Savings Bank raised its holdings in shares of Blackstone by 187.5% in the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager's stock valued at $28,000 after buying an additional 105 shares during the last quarter. Hager Investment Management Services LLC acquired a new stake in Blackstone during the 4th quarter worth approximately $28,000. Centricity Wealth Management LLC acquired a new position in shares of Blackstone in the fourth quarter valued at approximately $30,000. Berbice Capital Management LLC acquired a new stake in shares of Blackstone during the fourth quarter worth $34,000. Finally, Comprehensive Financial Planning Inc. PA acquired a new position in Blackstone in the 4th quarter valued at $34,000. 70.00% of the stock is owned by institutional investors and hedge funds.

Blackstone Trading Down 0.8 %

Shares of Blackstone stock traded down $1.25 during mid-day trading on Tuesday, hitting $150.83. 1,078,469 shares of the stock were exchanged, compared to its average volume of 3,278,089. The company has a 50-day simple moving average of $163.26 and a 200 day simple moving average of $167.59. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $110.02 billion, a price-to-earnings ratio of 41.51, a price-to-earnings-growth ratio of 1.07 and a beta of 1.55. Blackstone Inc. has a twelve month low of $115.82 and a twelve month high of $200.96.

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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 for the quarter, beating the consensus estimate of $1.50 by $0.19. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. Research analysts forecast that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 10th were given a $1.44 dividend. The ex-dividend date of this dividend 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 dividend yield of 3.82%. Blackstone's dividend payout ratio (DPR) is currently 158.68%.

Insider Buying and Selling

In other news, Director Ruth Porat acquired 301 shares of the business's stock in a transaction dated Tuesday, February 18th. The shares were bought at an average cost of $164.85 per share, for a total transaction of $49,619.85. Following the acquisition, 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 position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

BX has been the topic of a number of recent analyst reports. TD Cowen upgraded shares of Blackstone from a "hold" rating to a "buy" rating and boosted their price target for the stock from $149.00 to $230.00 in a research note on Monday, December 9th. Piper Sandler increased their target price on Blackstone from $168.00 to $179.00 and gave the stock a "neutral" rating in a research note on Monday, December 23rd. Citigroup reaffirmed a "hold" rating on shares of Blackstone in a report on Friday, February 7th. UBS Group raised shares of Blackstone from a "neutral" rating to a "buy" rating and set a $180.00 price target on the stock in a research note on Monday, March 17th. Finally, StockNews.com downgraded shares of Blackstone from a "buy" rating to a "hold" rating in a report on Friday, January 31st. Twelve research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Blackstone currently has a consensus rating of "Hold" and an average price target of $171.13.

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.