Blackstone Inc. (NYSE:BX) Shares Purchased by Bleakley Financial Group LLC

Bleakley Financial Group LLC boosted its holdings in Blackstone Inc. (NYSE:BX) by 4.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 24,722 shares of the asset manager’s stock after acquiring an additional 1,022 shares during the period. Bleakley Financial Group LLC’s holdings in Blackstone were worth $4,262,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in BX. West Financial Advisors LLC acquired a new position in Blackstone in the third quarter valued at approximately $27,000. Bangor Savings Bank lifted its stake in Blackstone by 187.5% during the fourth 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 acquired a new position in Blackstone during the fourth quarter worth $28,000. Berbice Capital Management LLC acquired a new position in Blackstone during the fourth quarter worth $34,000. Finally, Raleigh Capital Management Inc. lifted its stake in Blackstone by 32.1% during the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after purchasing an additional 62 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Price Performance

Shares of NYSE:BX opened at $174.50 on Friday. 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 $125.99 billion, a P/E ratio of 48.07, a PEG ratio of 1.18 and a beta of 1.53. Blackstone Inc. has a 52 week low of $115.82 and a 52 week high of $200.96. The company has a 50-day moving average price of $179.07 and a 200 day moving average price of $163.20.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 EPS for the quarter, beating 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%. Research analysts predict that Blackstone Inc. will post 5.86 earnings per share for the current year.

Blackstone Increases Dividend

The business also recently declared 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 3.30%. This is an increase from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend is Monday, February 10th. Blackstone’s dividend payout ratio (DPR) is presently 158.68%.

Wall Street Analysts Forecast Growth

BX has been the topic of a number of research reports. Evercore ISI upped their price target on Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Bank of America upped their price objective on Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Piper Sandler upped their price objective on Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a research report on Monday, December 23rd. Cowen reaffirmed a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. Finally, BMO Capital Markets upped their price objective on Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a research report on Thursday, December 19th. Thirteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $172.38.

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.