Trek Financial LLC bought a new position in shares of Blackstone Inc. (NYSE:BX - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,922 shares of the asset manager's stock, valued at approximately $849,000.
A number of other institutional investors have also recently bought and sold shares of BX. Bangor Savings Bank increased its holdings 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 purchasing an additional 105 shares in the last quarter. Hager Investment Management Services LLC bought a new stake in Blackstone in the 4th quarter valued at approximately $28,000. Centricity Wealth Management LLC acquired a new position in Blackstone during the 4th quarter worth approximately $30,000. Murphy & Mullick Capital Management Corp bought a new stake in shares of Blackstone in the fourth quarter worth $33,000. Finally, Berbice Capital Management LLC bought a new position in Blackstone in the fourth quarter valued at $34,000. Institutional investors own 70.00% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on BX shares. TD Cowen decreased their price objective on Blackstone from $233.00 to $147.00 and set a "buy" rating for the company in a report on Wednesday. Piper Sandler lowered their price target on Blackstone from $182.00 to $140.00 and set a "neutral" rating on the stock in a research report on Tuesday. Citigroup decreased their target price on shares of Blackstone from $190.00 to $137.00 and set a "neutral" rating for the company in a research note on Tuesday. BMO Capital Markets increased their price target on shares of Blackstone from $134.00 to $157.00 and gave the company a "market perform" rating in a research note on Thursday, December 19th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Blackstone from $149.00 to $154.00 and gave the stock a "neutral" rating in a research note on Friday, January 31st. Eleven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $157.22.
View Our Latest Stock Report on BX
Blackstone Price Performance
Shares of BX stock traded down $0.26 during trading on Friday, hitting $127.19. The company had a trading volume of 7,805,964 shares, compared to its average volume of 3,690,525. The stock's 50-day moving average price is $149.11 and its 200 day moving average price is $165.63. Blackstone Inc. has a one year low of $115.66 and a one year high of $200.96. 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 firm has a market capitalization of $92.77 billion, a P/E ratio of 35.04, a price-to-earnings-growth ratio of 1.07 and a beta of 1.61.
Blackstone (NYSE:BX - Get Free Report) last released its earnings results on Thursday, January 30th. The asset manager reported $1.69 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%. Equities analysts expect that Blackstone Inc. will post 5.87 EPS for the current fiscal year.
Blackstone Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were given a $1.44 dividend. This represents a $5.76 dividend on an annualized basis and a yield of 4.53%. The ex-dividend date was Monday, February 10th. This is a boost from Blackstone's previous quarterly dividend of $0.86. Blackstone's payout ratio is currently 158.68%.
Insider Transactions at Blackstone
In other news, Director Ruth Porat purchased 301 shares of the company'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 purchase, the director now owns 36,829 shares of the company's stock, valued at approximately $6,071,260.65. The trade was a 0.82 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.00% of the company's stock.
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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