By otakuyassine3@gmail.com 
Rice Partnership LLC purchased a new stake in Blackstone Inc. (NYSE:BX – Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 1,169 shares of the asset manager’s stock, valued at approximately $201,000.
Other hedge funds have also modified their holdings of the company. Bangor Savings Bank lifted its holdings in shares of Blackstone by 187.5% in the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after buying an additional 105 shares during the period. West Financial Advisors LLC purchased a new position in Blackstone in the 3rd quarter valued at approximately $27,000. Berbice Capital Management LLC purchased a new position in Blackstone in the 4th quarter valued at approximately $34,000. Kieckhefer Group LLC purchased a new position in Blackstone in the 4th quarter valued at approximately $39,000. Finally, Raleigh Capital Management Inc. increased its stake in Blackstone by 32.1% in the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock valued at $39,000 after purchasing an additional 62 shares in the last quarter. 70.00% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Blackstone
In related news, insider John G. Finley sold 42,249 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $175.94, for a total value of $7,433,289.06. Following the completion of the sale, the insider now directly owns 387,137 shares of the company’s stock, valued at $68,112,883.78. The trade was a 9.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.00% of the company’s stock.
Analyst Ratings Changes
Several equities analysts recently weighed in on BX shares. JPMorgan Chase & Co. raised their price objective on Blackstone from $149.00 to $154.00 and gave the company a “neutral” rating in a research note on Friday. Deutsche Bank Aktiengesellschaft raised their price target on Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Citigroup raised their price target on Blackstone from $170.00 to $190.00 and gave the stock a “neutral” rating in a research report on Friday. Keefe, Bruyette & Woods raised their price target on Blackstone from $174.00 to $177.00 and gave the stock a “market perform” rating in a research report on Friday. Finally, Bank of America raised their price target on Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Thirteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Blackstone currently has an average rating of “Hold” and an average price target of $171.13.
Get Our Latest Research Report on BX
Blackstone Trading Down 0.5 %
Shares of BX opened at $176.92 on Monday. The stock’s 50-day moving average is $180.15 and its two-hundred day moving average is $162.63. The stock has a market cap of $127.74 billion, a PE ratio of 48.74, a P/E/G ratio of 1.18 and a beta of 1.53. Blackstone Inc. has a 12 month low of $115.82 and a 12 month high of $200.96. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71.
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 return on equity of 19.58% and a net margin of 20.99%. Equities analysts forecast that Blackstone Inc. will post 5.86 earnings per share for the current fiscal year.
Blackstone Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th will be given a dividend of $1.44 per share. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.26%. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date is Monday, February 10th. Blackstone’s payout ratio is presently 94.77%.
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.
Further Reading
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