Xponance Inc. Purchases 6,249 Shares of Blackstone Inc. (NYSE:BX)

Xponance Inc. grew its position in Blackstone Inc. (NYSE:BX - Free Report) by 3.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 166,554 shares of the asset manager's stock after purchasing an additional 6,249 shares during the period. Xponance Inc.'s holdings in Blackstone were worth $28,717,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of BX. Aljian Capital Management LLC acquired a new position in shares of Blackstone during the 3rd quarter valued at about $1,951,000. Icon Wealth Advisors LLC increased its holdings in shares of Blackstone by 2,185.4% during the 3rd quarter. Icon Wealth Advisors LLC now owns 18,946 shares of the asset manager's stock valued at $2,901,000 after acquiring an additional 18,117 shares during the last quarter. Wealthcare Capital Partners LLC acquired a new position in shares of Blackstone during the 4th quarter valued at about $2,102,000. Highland Capital Management LLC increased its holdings in shares of Blackstone by 214.2% during the 4th quarter. Highland Capital Management LLC now owns 22,303 shares of the asset manager's stock valued at $3,845,000 after acquiring an additional 15,205 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in Blackstone by 3.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,169,526 shares of the asset manager's stock valued at $179,089,000 after buying an additional 36,343 shares during the last quarter. 70.00% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Blackstone

In other Blackstone news, Director Ruth Porat bought 301 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The stock was acquired at an average price of $164.85 per share, with a total value of $49,619.85. Following the completion of the transaction, the director now owns 36,829 shares in the company, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.00% of the stock is owned by insiders.

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Wall Street Analysts Forecast Growth

A number of research firms have issued reports on BX. TD Cowen raised Blackstone from a "hold" rating to a "buy" rating and raised their target price for the company from $149.00 to $230.00 in a report on Monday, December 9th. BMO Capital Markets raised their target price on Blackstone from $134.00 to $157.00 and gave the company a "market perform" rating in a report on Thursday, December 19th. UBS Group raised Blackstone from a "neutral" rating to a "buy" rating and set a $180.00 target price on the stock in a report on Monday, March 17th. StockNews.com downgraded Blackstone from a "buy" rating to a "hold" rating in a research report on Friday, January 31st. Finally, Wells Fargo & Company reduced their price objective on Blackstone from $180.00 to $160.00 and set an "equal weight" rating for the company in a research report on Thursday. Twelve analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $171.13.

Blackstone Stock Down 0.1 %

Shares of NYSE:BX traded down $0.10 during midday trading on Friday, reaching $148.65. 8,381,116 shares of the company were exchanged, compared to its average volume of 3,275,264. 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 stock has a fifty day simple moving average of $163.53 and a two-hundred day simple moving average of $167.08. The firm has a market cap of $108.43 billion, a PE ratio of 40.95, a P/E/G ratio of 1.07 and a beta of 1.55.

Blackstone (NYSE:BX - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 EPS for the quarter, topping analysts' consensus estimates of $1.50 by $0.19. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. As a group, sell-side analysts forecast that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The firm 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 was Monday, February 10th. This represents a $5.76 dividend on an annualized basis and a yield of 3.87%. This is an increase from Blackstone's previous quarterly dividend of $0.86. Blackstone's dividend payout ratio (DPR) is 158.68%.

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.