Stevens Capital Management LP Makes New $840,000 Investment in Blackstone Inc. (NYSE:BX)

Stevens Capital Management LP purchased a new position in Blackstone Inc. (NYSE:BX) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 4,872 shares of the asset manager’s stock, valued at approximately $840,000.

Several other institutional investors and hedge funds have also bought and sold shares of BX. Bangor Savings Bank grew its holdings in Blackstone by 187.5% in the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock worth $28,000 after purchasing an additional 105 shares during the last quarter. Hager Investment Management Services LLC purchased a new stake in shares of Blackstone during the fourth quarter valued at $28,000. Centricity Wealth Management LLC purchased a new stake in shares of Blackstone during the fourth quarter valued at $30,000. Berbice Capital Management LLC purchased a new stake in shares of Blackstone during the fourth quarter valued at $34,000. Finally, Comprehensive Financial Planning Inc. PA purchased a new stake in shares of Blackstone during the fourth quarter valued at $34,000. 70.00% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Blackstone

In other Blackstone news, Director Ruth Porat acquired 301 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was bought at an average price of $164.85 per share, with a total value of $49,619.85. Following the purchase, the director now owns 36,829 shares in the company, valued at approximately $6,071,260.65. The trade was a 0.82 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is owned by corporate insiders.

Blackstone Stock Down 0.1 %

BX opened at $148.65 on Friday. Blackstone Inc. has a twelve month low of $115.82 and a twelve 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 company has a 50-day moving average price of $163.53 and a 200 day moving average price of $167.28. The company has a market cap of $108.43 billion, a PE ratio of 40.95, a price-to-earnings-growth ratio of 1.07 and a beta of 1.55.

Blackstone (NYSE:BX) last released its quarterly earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share 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%. Sell-side analysts expect that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 10th were paid a dividend of $1.44 per share. This represents a $5.76 annualized dividend and a yield of 3.87%. The ex-dividend date was Monday, February 10th. This is a boost from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s dividend payout ratio is currently 158.68%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on BX shares. Citigroup reissued a “hold” rating on shares of Blackstone in a report on Friday, February 7th. JPMorgan Chase & Co. boosted their target price on shares of Blackstone from $149.00 to $154.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Keefe, Bruyette & Woods boosted their target price on shares of Blackstone from $174.00 to $177.00 and gave the company a “market perform” rating in a research report on Friday, January 31st. Barclays restated an “equal weight” rating on shares of Blackstone in a research report on Friday, February 7th. Finally, Piper Sandler boosted their target price on shares of Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a research report on Monday, December 23rd. Twelve investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $171.13.

Blackstone 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.