Stevens Capital Management LP Takes $840,000 Position in Blackstone Inc. (NYSE:BX)

Stevens Capital Management LP purchased a new stake in shares of Blackstone Inc. (NYSE:BX - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 4,872 shares of the asset manager's stock, valued at approximately $840,000.

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

Blackstone Stock Down 0.5 %

Shares of NYSE BX traded down $0.79 during midday trading on Tuesday, reaching $151.29. 3,587,069 shares of the company's stock traded hands, compared to its average volume of 3,278,089. The stock's 50 day simple moving average is $163.26 and its 200-day simple moving average is $167.59. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. The company has a market cap of $110.35 billion, a price-to-earnings ratio of 41.68, a P/E/G ratio of 1.07 and a beta of 1.55. Blackstone Inc. has a one year low of $115.82 and a one year high of $200.96.

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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%. On average, analysts predict that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th were given a $1.44 dividend. This is a boost from Blackstone's previous quarterly dividend of $0.86. The ex-dividend date was Monday, February 10th. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.81%. Blackstone's dividend payout ratio (DPR) is presently 158.68%.

Insider Transactions at Blackstone

In other news, Director Ruth Porat acquired 301 shares of the business's stock in a transaction dated Tuesday, February 18th. The shares were acquired at an average cost of $164.85 per share, with a total value of $49,619.85. Following the completion of the acquisition, the director now owns 36,829 shares of the company's stock, valued at approximately $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 is accessible through this link. Insiders own 1.00% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on BX shares. Wells Fargo & Company decreased their price objective on Blackstone from $180.00 to $160.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 20th. Barclays reaffirmed an "equal weight" rating on shares of Blackstone in a report on Friday, February 7th. Piper Sandler upped their target price on shares of Blackstone from $168.00 to $179.00 and gave the stock a "neutral" rating in a research report on Monday, December 23rd. BMO Capital Markets increased their target price on Blackstone from $134.00 to $157.00 and gave the company a "market perform" rating in a research report on Thursday, December 19th. Finally, Keefe, Bruyette & Woods increased 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. Twelve investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $171.13.

About Blackstone

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.