Mill Creek Capital Advisors LLC Has $1.04 Million Stake in Blackstone Inc. (NYSE:BX)

Mill Creek Capital Advisors LLC grew its position in Blackstone Inc. (NYSE:BX) by 14.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,045 shares of the asset manager’s stock after purchasing an additional 750 shares during the quarter. Mill Creek Capital Advisors LLC’s holdings in Blackstone were worth $1,042,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bangor Savings Bank lifted its stake in shares of Blackstone by 187.5% in the 4th 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 last quarter. Hager Investment Management Services LLC bought a new position in shares of Blackstone in the 4th quarter valued at $28,000. Berbice Capital Management LLC bought a new position in shares of Blackstone in the 4th quarter valued at $34,000. Comprehensive Financial Planning Inc. PA bought a new position in Blackstone during the 4th quarter worth $34,000. Finally, Raleigh Capital Management Inc. raised its position in Blackstone by 32.1% during the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after purchasing an additional 62 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Trading Down 1.0 %

Shares of BX stock opened at $168.52 on Tuesday. The company’s fifty day simple moving average is $178.36 and its two-hundred day simple moving average is $163.80. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71. Blackstone Inc. has a 1 year low of $115.82 and a 1 year high of $200.96. The stock has a market capitalization of $121.67 billion, a price-to-earnings ratio of 46.42, a PEG ratio of 1.13 and a beta of 1.53.

Blackstone (NYSE:BX) last issued 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, analysts anticipate that Blackstone Inc. will post 5.88 earnings per share for the current year.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Monday, February 10th will be given a $1.44 dividend. The ex-dividend date is Monday, February 10th. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 annualized dividend and a yield of 3.42%. Blackstone’s payout ratio is 158.68%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BX. Bank of America raised their target price on Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Citigroup increased their price target on Blackstone from $170.00 to $190.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. 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. TD Cowen upgraded Blackstone from a “hold” rating to a “buy” rating and increased their price target for the stock from $149.00 to $230.00 in a report on Monday, December 9th. Finally, Keefe, Bruyette & Woods raised their target price on Blackstone from $174.00 to $177.00 and gave the company a “market perform” rating in a research note on Friday, January 31st. Thirteen investment 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 company presently has an average rating of “Hold” and a consensus price target of $172.38.

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.