5,981 Shares in Blackstone Inc. (NYSE:BX) Purchased by Gallagher Capital Advisors LLC

Gallagher Capital Advisors LLC purchased a new position in Blackstone Inc. (NYSE:BX) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,981 shares of the asset manager’s stock, valued at approximately $1,031,000.

A number of other large investors also recently bought and sold shares of BX. Bangor Savings Bank raised its stake in shares of Blackstone by 187.5% during the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 105 shares in the last quarter. Hager Investment Management Services LLC purchased a new stake in shares of Blackstone in the 4th quarter worth $28,000. Centricity Wealth Management LLC purchased a new position in shares of Blackstone during the fourth quarter valued at $30,000. Berbice Capital Management LLC bought a new stake in shares of Blackstone in the fourth quarter valued at about $34,000. Finally, Comprehensive Financial Planning Inc. PA bought a new position in Blackstone during the 4th quarter worth about $34,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Trading Down 0.3 %

BX stock opened at $145.12 on Monday. The firm has a market cap of $105.86 billion, a P/E ratio of 39.98, a PEG ratio of 1.07 and a beta of 1.55. Blackstone Inc. has a 52-week low of $115.82 and a 52-week 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’s 50-day simple moving average is $169.33 and its 200-day simple moving average is $167.23.

Blackstone (NYSE:BX) last posted its quarterly earnings data 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 forecast that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 10th were paid a $1.44 dividend. 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. This represents a $5.76 dividend on an annualized basis and a yield of 3.97%. Blackstone’s dividend payout ratio (DPR) is currently 158.68%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on BX shares. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Piper Sandler lifted their price target on Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a report on Monday, December 23rd. UBS Group reiterated a “neutral” rating on shares of Blackstone in a research note on Monday, March 3rd. TD Cowen raised shares of Blackstone from a “hold” rating to a “buy” rating and increased their price target for the company from $149.00 to $230.00 in a research report on Monday, December 9th. Finally, Citigroup restated a “hold” rating on shares of Blackstone in a research note on Friday, February 7th. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Blackstone presently has a consensus rating of “Hold” and an average price target of $172.38.

Insider Buying and Selling at Blackstone

In other Blackstone news, Director Ruth Porat bought 301 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were acquired at an average cost of $164.85 per share, with a total value of $49,619.85. Following the purchase, the director now directly owns 36,829 shares of the company’s stock, valued at $6,071,260.65. This trade represents a 0.82 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 1.00% of the company’s stock.

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.