Strategic Financial Concepts LLC purchased a new position in Blackstone Inc. (NYSE:BX - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 112,961 shares of the asset manager's stock, valued at approximately $19,477,000. Blackstone comprises about 0.6% of Strategic Financial Concepts LLC's holdings, making the stock its 22nd biggest position.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Allworth Financial LP lifted its holdings in Blackstone by 34.6% during the fourth quarter. Allworth Financial LP now owns 36,461 shares of the asset manager's stock valued at $6,664,000 after purchasing an additional 9,375 shares during the last quarter. Principal Securities Inc. increased its position in shares of Blackstone by 6.9% in the fourth quarter. Principal Securities Inc. now owns 18,036 shares of the asset manager's stock worth $3,110,000 after purchasing an additional 1,171 shares during the last quarter. Centerpoint Advisory Group bought a new position in Blackstone during the fourth quarter valued at approximately $275,000. Everhart Financial Group Inc. bought a new position in Blackstone during the fourth quarter valued at approximately $268,000. Finally, Roxbury Financial LLC bought a new position in Blackstone during the fourth quarter valued at approximately $34,000. 70.00% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of research firms have recently weighed in on BX. TD Cowen raised Blackstone from a "hold" rating to a "buy" rating and increased their price objective for the company from $149.00 to $230.00 in a research note on Monday, December 9th. BMO Capital Markets raised their price objective on Blackstone from $134.00 to $157.00 and gave the company a "market perform" rating in a research report on Thursday, December 19th. Piper Sandler raised their price target on Blackstone from $168.00 to $179.00 and gave the company a "neutral" rating in a report on Monday, December 23rd. Keefe, Bruyette & Woods lifted their price objective on Blackstone from $174.00 to $177.00 and gave the stock a "market perform" rating in a report on Friday, January 31st. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Blackstone from $172.00 to $182.00 and gave the stock a "buy" rating in a report on Monday, November 11th. Thirteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, Blackstone has a consensus rating of "Hold" and an average target price of $172.38.
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Blackstone Stock Down 0.7 %
NYSE BX traded down $1.12 on Wednesday, hitting $165.62. 776,420 shares of the stock were exchanged, compared to its average volume of 3,223,291. The company has a 50-day moving average price of $175.23 and a 200-day moving average price of $165.03. Blackstone Inc. has a fifty-two week low of $115.82 and a fifty-two week high of $200.96. 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 $119.57 billion, a PE ratio of 45.65, a PEG ratio of 1.07 and a beta of 1.53.
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 net margin of 20.99% and a return on equity of 19.58%. Sell-side analysts anticipate that Blackstone Inc. will post 5.87 EPS for the current fiscal 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 given a $1.44 dividend. This is an increase from Blackstone's previous quarterly dividend of $0.86. The ex-dividend date was Monday, February 10th. This represents a $5.76 annualized dividend and a yield of 3.48%. Blackstone's dividend payout ratio is 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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