Stokes Family Office LLC Buys Shares of 3,468 Blackstone Inc. (NYSE:BX)

Stokes Family Office LLC acquired a new stake in Blackstone Inc. (NYSE:BX - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 3,468 shares of the asset manager's stock, valued at approximately $598,000.

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

Wall Street Analyst Weigh In

BX has been the topic of several analyst reports. StockNews.com cut shares of Blackstone from a "buy" rating to a "hold" rating in a research note on Friday, January 31st. Keefe, Bruyette & Woods lifted their target price on shares of Blackstone from $174.00 to $177.00 and gave the stock a "market perform" rating in a research note on Friday, January 31st. JPMorgan Chase & Co. upped their target price on Blackstone from $149.00 to $154.00 and gave the company a "neutral" rating in a research report on Friday, January 31st. BMO Capital Markets boosted their target price 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. Finally, Piper Sandler lifted their price target 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. Twelve research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $171.13.

Remove Ads

Insiders Place Their Bets

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

Blackstone Stock Performance

Shares of BX traded down $0.10 on Friday, reaching $148.65. 8,381,116 shares of the company's stock traded hands, compared to its average volume of 3,280,093. The stock's 50 day simple moving average is $163.53 and its two-hundred day simple moving average is $167.28. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. Blackstone Inc. has a 52-week low of $115.82 and a 52-week high of $200.96. The stock has a market cap of $108.43 billion, a PE ratio of 40.95, a PEG ratio of 1.07 and a beta of 1.55.

Blackstone (NYSE:BX - Get Free Report) last issued 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 return on equity of 19.58% and a net margin of 20.99%. On average, analysts forecast that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 10th were issued a $1.44 dividend. The ex-dividend date was Monday, February 10th. This is an increase from Blackstone's previous quarterly dividend of $0.86. This represents a $5.76 annualized dividend and a yield of 3.87%. Blackstone's dividend payout ratio (DPR) is 158.68%.

Blackstone 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.