Mystic Asset Management Inc. Has $304,000 Stock Position in Blackstone Inc. (NYSE:BX)

Mystic Asset Management Inc. boosted its stake in shares of Blackstone Inc. (NYSE:BX) by 9.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,764 shares of the asset manager’s stock after buying an additional 147 shares during the period. Mystic Asset Management Inc.’s holdings in Blackstone were worth $304,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of BX. Icon Wealth Advisors LLC raised its holdings in shares of Blackstone by 2,185.4% in the third quarter. Icon Wealth Advisors LLC now owns 18,946 shares of the asset manager’s stock valued at $2,901,000 after purchasing an additional 18,117 shares during the last quarter. Wealthcare Capital Partners LLC acquired a new stake in shares of Blackstone in the fourth quarter valued at approximately $2,102,000. Highland Capital Management LLC raised its holdings in shares of Blackstone by 214.2% in the fourth quarter. Highland Capital Management LLC now owns 22,303 shares of the asset manager’s stock valued at $3,845,000 after purchasing an additional 15,205 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Blackstone by 3.2% in the third quarter. PNC Financial Services Group Inc. now owns 1,169,526 shares of the asset manager’s stock valued at $179,089,000 after purchasing an additional 36,343 shares during the last quarter. Finally, Nordea Investment Management AB raised its holdings in shares of Blackstone by 8.8% in the fourth quarter. Nordea Investment Management AB now owns 58,229 shares of the asset manager’s stock valued at $10,053,000 after purchasing an additional 4,688 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Trading Down 1.1 %

Shares of Blackstone stock opened at $146.11 on Wednesday. The firm has a 50-day moving average of $164.85 and a 200-day moving average of $167.29. The stock has a market cap of $106.58 billion, a PE ratio of 40.25, a PEG ratio of 1.07 and a beta of 1.55. Blackstone Inc. has a 52-week low of $115.82 and a 52-week high of $200.96. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67.

Blackstone (NYSE:BX) last announced its earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share (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%. As a group, sell-side analysts forecast that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 10th were paid a $1.44 dividend. This represents a $5.76 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date was Monday, February 10th. This is an increase from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s payout ratio is 158.68%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BX. TD Cowen raised shares of 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 research note on Monday, December 9th. Citigroup reissued a “hold” rating on shares of Blackstone in a research note on Friday, February 7th. JPMorgan Chase & Co. raised their target price 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. Keefe, Bruyette & Woods raised their target price on shares of Blackstone from $174.00 to $177.00 and gave the company a “market perform” rating in a research note on Friday, January 31st. Finally, Barclays reissued an “equal weight” rating on shares of Blackstone in a research note on Friday, February 7th. Twelve analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $172.38.

Insider Activity 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 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 purchase, the director now directly owns 36,829 shares in the company, valued at $6,071,260.65. This trade represents a 0.82 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is owned by insiders.

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.