Blackstone Inc. (NYSE:BX) Shares Purchased by HBK Sorce Advisory LLC

HBK Sorce Advisory LLC boosted its position in Blackstone Inc. (NYSE:BX) by 2.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,063 shares of the asset manager’s stock after purchasing an additional 224 shares during the period. HBK Sorce Advisory LLC’s holdings in Blackstone were worth $1,563,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new stake in shares of Blackstone during the 4th quarter valued at $316,257,000. Proficio Capital Partners LLC lifted its position in shares of Blackstone by 2,057.7% during the 4th quarter. Proficio Capital Partners LLC now owns 844,755 shares of the asset manager’s stock valued at $145,653,000 after acquiring an additional 805,604 shares during the last quarter. Jennison Associates LLC lifted its position in shares of Blackstone by 111.1% during the 4th quarter. Jennison Associates LLC now owns 973,348 shares of the asset manager’s stock valued at $167,825,000 after acquiring an additional 512,165 shares during the last quarter. Amundi raised its stake in Blackstone by 51.0% during the 4th quarter. Amundi now owns 1,430,555 shares of the asset manager’s stock valued at $248,723,000 after purchasing an additional 483,362 shares during the period. Finally, Castleark Management LLC acquired a new stake in Blackstone during the 3rd quarter valued at $67,472,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Stock Performance

NYSE:BX opened at $136.47 on Friday. Blackstone Inc. has a 12-month low of $115.82 and a 12-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 firm has a market capitalization of $99.54 billion, a PE ratio of 37.60, a price-to-earnings-growth ratio of 1.07 and a beta of 1.55. The firm has a 50-day moving average price of $166.60 and a 200 day moving average price of $166.85.

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

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th were issued a dividend of $1.44 per share. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date was Monday, February 10th. This represents a $5.76 annualized dividend and a dividend yield of 4.22%. Blackstone’s dividend payout ratio (DPR) is presently 158.68%.

Insider Transactions at Blackstone

In related news, Director Ruth Porat acquired 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 transaction, the director now directly 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 position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

BX has been the topic of several recent analyst reports. Citigroup reissued a “hold” rating on shares of Blackstone in a research note on Friday, February 7th. Barclays reaffirmed an “equal weight” rating on shares of Blackstone in a research note on Friday, February 7th. Piper Sandler upped their price objective on shares of Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a report on Monday, December 23rd. Keefe, Bruyette & Woods upped their price objective on shares of Blackstone from $174.00 to $177.00 and gave the stock a “market perform” rating in a report on Friday, January 31st. Finally, UBS Group restated a “neutral” rating on shares of Blackstone in a report on Monday, March 3rd. Thirteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target 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.