MTM Investment Management LLC Invests $234,000 in Blackstone Inc. (NYSE:BX)

MTM Investment Management LLC bought a new position in shares of Blackstone Inc. (NYSE:BX) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,358 shares of the asset manager’s stock, valued at approximately $234,000.

A number of other large investors have also modified their holdings of BX. Carnegie Investment Counsel purchased a new position in shares of Blackstone during the 3rd quarter worth approximately $220,000. Exchange Traded Concepts LLC grew its holdings in shares of Blackstone by 2,188.2% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,167 shares of the asset manager’s stock worth $179,000 after acquiring an additional 1,116 shares during the period. CX Institutional grew its holdings in shares of Blackstone by 4.8% in the 3rd quarter. CX Institutional now owns 2,663 shares of the asset manager’s stock worth $408,000 after acquiring an additional 122 shares during the period. Creative Planning grew its holdings in shares of Blackstone by 4.2% in the 3rd quarter. Creative Planning now owns 237,936 shares of the asset manager’s stock worth $36,435,000 after acquiring an additional 9,668 shares during the period. Finally, CFM Wealth Partners LLC grew its holdings in shares of Blackstone by 21.8% in the 3rd quarter. CFM Wealth Partners LLC now owns 2,434 shares of the asset manager’s stock worth $373,000 after acquiring an additional 435 shares during the period. 70.00% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on BX shares. TD Cowen upgraded Blackstone from a “hold” rating to a “buy” rating and increased their target price for the company from $149.00 to $230.00 in a report on Monday, December 9th. StockNews.com cut Blackstone from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Keefe, Bruyette & Woods raised their price objective on Blackstone from $174.00 to $177.00 and gave the stock a “market perform” rating in a report on Friday, January 31st. Bank of America raised their price objective on Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Finally, UBS Group raised their price objective on Blackstone from $170.00 to $180.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Thirteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $172.38.

Blackstone Stock Down 2.4 %

Shares of NYSE BX opened at $160.90 on Thursday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67. The stock’s 50-day simple moving average is $177.56 and its 200-day simple moving average is $164.16. Blackstone Inc. has a 1 year low of $115.82 and a 1 year high of $200.96. The firm has a market cap of $116.17 billion, a price-to-earnings ratio of 44.33, 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 EPS for the quarter, beating 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, equities analysts anticipate that Blackstone Inc. will post 5.88 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Monday, February 10th will be issued a dividend of $1.44 per share. This is a boost from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date is Monday, February 10th. This represents a $5.76 annualized dividend and a yield of 3.58%. Blackstone’s payout ratio is presently 94.77%.

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.