Fjell Capital LLC Buys New Holdings in Blackstone Inc. (NYSE:BX)

Fjell Capital LLC acquired a new stake in Blackstone Inc. (NYSE:BX) during the 4th quarter, Holdings Channel.com reports. The fund acquired 6,900 shares of the asset manager’s stock, valued at approximately $1,190,000. Blackstone comprises about 1.2% of Fjell Capital LLC’s investment portfolio, making the stock its 27th largest position.

Several other institutional investors have also recently made changes to their positions in BX. Assenagon Asset Management S.A. grew its stake in shares of Blackstone by 8.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 17,555 shares of the asset manager’s stock worth $2,688,000 after purchasing an additional 1,425 shares during the period. Autumn Glory Partners LLC grew its position in Blackstone by 25.3% during the third quarter. Autumn Glory Partners LLC now owns 3,940 shares of the asset manager’s stock valued at $603,000 after buying an additional 795 shares during the period. Old Port Advisors raised its position in shares of Blackstone by 6.5% in the third quarter. Old Port Advisors now owns 6,019 shares of the asset manager’s stock worth $922,000 after acquiring an additional 366 shares during the period. Worth Financial Advisory Group LLC grew its position in shares of Blackstone by 8.2% during the 3rd quarter. Worth Financial Advisory Group LLC now owns 5,805 shares of the asset manager’s stock valued at $889,000 after acquiring an additional 438 shares during the period. Finally, Cantor Fitzgerald Investment Advisors L.P. increased its stake in shares of Blackstone by 58.2% in the 3rd quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 9,492 shares of the asset manager’s stock valued at $1,454,000 after purchasing an additional 3,492 shares in the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insider Buying and Selling

In related news, Director Ruth Porat bought 301 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was purchased at an average price of $164.85 per share, for a total transaction of $49,619.85. Following the acquisition, the director now owns 36,829 shares of the company’s stock, valued at approximately $6,071,260.65. This trade represents a 0.82 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Blackstone Stock Up 0.1 %

NYSE BX opened at $157.22 on Wednesday. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. Blackstone Inc. has a 52 week low of $115.82 and a 52 week high of $200.96. The business’s fifty day simple moving average is $172.44 and its 200-day simple moving average is $166.12. The firm has a market cap of $113.51 billion, a PE ratio of 43.31, a P/E/G ratio of 1.07 and a beta of 1.53.

Blackstone (NYSE:BX) last posted its quarterly earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share for the quarter, beating the consensus estimate 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, equities analysts anticipate that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th were paid a $1.44 dividend. This represents a $5.76 annualized dividend and a dividend yield of 3.66%. The ex-dividend date of this dividend was Monday, February 10th. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s dividend payout ratio is 158.68%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. TD Cowen upgraded Blackstone from a “hold” rating to a “buy” rating and boosted their price objective for the company from $149.00 to $230.00 in a research report on Monday, December 9th. Wells Fargo & Company cut their price target on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. UBS Group lifted their target price on shares of Blackstone from $170.00 to $180.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Citigroup restated a “hold” rating on shares of Blackstone in a research report on Friday, February 7th. Finally, BMO Capital Markets boosted their price objective on Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a research note on Thursday, December 19th. Thirteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average 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.