DJE Kapital AG Makes New Investment in Blackstone Inc. (NYSE:BX)

DJE Kapital AG acquired a new position in shares of Blackstone Inc. (NYSE:BX) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 166,026 shares of the asset manager’s stock, valued at approximately $28,339,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Bangor Savings Bank boosted its holdings in shares of 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 during the last quarter. Hager Investment Management Services LLC purchased a new position in Blackstone during the fourth quarter worth approximately $28,000. Centricity Wealth Management LLC purchased a new stake in Blackstone in the 4th quarter valued at $30,000. Roxbury Financial LLC purchased a new position in shares of Blackstone during the 4th quarter worth $34,000. Finally, Berbice Capital Management LLC purchased a new stake in shares of Blackstone in the fourth quarter valued at about $34,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insider Transactions at Blackstone

In related news, Director Ruth Porat purchased 301 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were purchased at an average price of $164.85 per share, for a total transaction of $49,619.85. Following the transaction, the director now directly 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.00% of the company’s stock.

Blackstone Trading Up 2.3 %

NYSE:BX opened at $161.01 on Monday. The stock has a fifty day moving average price of $171.77 and a 200 day moving average price of $166.67. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. Blackstone Inc. has a 12-month low of $115.82 and a 12-month high of $200.96. The firm has a market cap of $116.25 billion, a PE ratio of 44.35, a price-to-earnings-growth ratio of 1.07 and a beta of 1.53.

Blackstone (NYSE:BX) last released its earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share 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%. Sell-side analysts anticipate that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were paid a $1.44 dividend. The ex-dividend date was Monday, February 10th. This is a boost from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 dividend on an annualized basis and a yield of 3.58%. Blackstone’s dividend payout ratio (DPR) is currently 158.68%.

Analysts Set New Price Targets

Several research firms have recently weighed in on BX. JPMorgan Chase & Co. increased their price target on shares of Blackstone from $149.00 to $154.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. UBS Group raised their target price on Blackstone from $170.00 to $180.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Piper Sandler increased their price target on Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a report on Monday, December 23rd. Keefe, Bruyette & Woods upped their target price on shares of Blackstone from $174.00 to $177.00 and gave the company a “market perform” rating in a research report on Friday, January 31st. Finally, Wells Fargo & Company dropped their price target on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. Thirteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $172.38.

Blackstone Profile

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.