Promus Capital LLC Takes $237,000 Position in Blackstone Inc. (NYSE:BX)

Promus Capital LLC acquired a new stake in shares of Blackstone Inc. (NYSE:BX) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,376 shares of the asset manager’s stock, valued at approximately $237,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Bangor Savings Bank grew its position in Blackstone by 187.5% in the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 105 shares during the period. Hager Investment Management Services LLC bought a new stake in Blackstone in the fourth quarter valued at $28,000. Centricity Wealth Management LLC bought a new stake in Blackstone in the fourth quarter valued at $30,000. Berbice Capital Management LLC bought a new stake in Blackstone in the fourth quarter valued at $34,000. Finally, Comprehensive Financial Planning Inc. PA bought a new stake in shares of Blackstone during the fourth quarter worth $34,000. 70.00% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on BX shares. UBS Group restated a “neutral” rating on shares of Blackstone in a report on Monday. Barclays restated an “equal weight” rating on shares of Blackstone in a report on Friday, February 7th. StockNews.com cut Blackstone from a “buy” rating to a “hold” rating in a report on Friday, January 31st. BMO Capital Markets increased their target price on Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a report on Thursday, December 19th. Finally, TD Cowen raised Blackstone from a “hold” rating to a “buy” rating and upped their price target for the company from $149.00 to $230.00 in a research note on Monday, December 9th. Thirteen research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Blackstone currently has an average rating of “Hold” and an average price target of $172.38.

Insiders Place Their Bets

In related news, Director Ruth Porat bought 301 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were purchased at an average cost of $164.85 per share, with a total value of $49,619.85. Following the acquisition, the director now owns 36,829 shares of the company’s stock, valued at $6,071,260.65. This represents 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 at this hyperlink. Company insiders own 1.00% of the company’s stock.

Blackstone Trading Up 0.9 %

Shares of BX stock opened at $152.08 on Thursday. The firm has a market capitalization of $109.80 billion, a P/E ratio of 41.90, a P/E/G ratio of 1.07 and a beta of 1.55. Blackstone Inc. has a twelve month low of $115.82 and a twelve month 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’s fifty day simple moving average is $170.52 and its 200 day simple moving average is $166.84.

Blackstone (NYSE:BX) last issued its quarterly earnings data 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 return on equity of 19.58% and a net margin of 20.99%. As a group, sell-side analysts predict that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were issued a dividend of $1.44 per share. The ex-dividend date was Monday, February 10th. This is an increase from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 annualized dividend and a yield of 3.79%. Blackstone’s payout ratio is presently 158.68%.

Blackstone Company 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.