Lbp Am Sa Buys New Position in Blackstone Inc. (NYSE:BX)

Lbp Am Sa bought a new stake in shares of Blackstone Inc. (NYSE:BX) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 12,708 shares of the asset manager’s stock, valued at approximately $2,191,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bangor Savings Bank boosted 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 acquiring an additional 105 shares in the last quarter. Hager Investment Management Services LLC bought a new position in Blackstone in the fourth quarter worth approximately $28,000. Centricity Wealth Management LLC bought a new position in Blackstone in the fourth quarter worth approximately $30,000. Berbice Capital Management LLC bought a new position in Blackstone in the fourth quarter worth approximately $34,000. Finally, Comprehensive Financial Planning Inc. PA bought a new position in Blackstone in the fourth quarter worth approximately $34,000. Institutional investors own 70.00% of the company’s stock.

Insider Activity

In other Blackstone news, Director Ruth Porat bought 301 shares of Blackstone stock in a transaction that occurred on Tuesday, February 18th. The stock was acquired at an average cost of $164.85 per share, for a total transaction of $49,619.85. Following the completion of the transaction, the director now directly owns 36,829 shares in the company, valued at $6,071,260.65. This represents a 0.82 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 1.00% of the stock is owned by company insiders.

Blackstone Stock Performance

NYSE:BX opened at $141.01 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71. The business has a fifty day simple moving average of $165.90 and a two-hundred day simple moving average of $167.02. Blackstone Inc. has a 1 year low of $115.82 and a 1 year high of $200.96. The company has a market capitalization of $102.86 billion, a P/E ratio of 38.85, a P/E/G ratio of 1.07 and a beta of 1.55.

Blackstone (NYSE:BX) last announced its quarterly earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.19. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. On average, analysts expect that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th were given a $1.44 dividend. The ex-dividend date of this dividend was Monday, February 10th. This is a boost from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 annualized dividend and a dividend yield of 4.08%. Blackstone’s payout ratio is 158.68%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on BX. TD Cowen upgraded Blackstone from a “hold” rating to a “buy” rating and raised their target price for the company from $149.00 to $230.00 in a report on Monday, December 9th. 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 report on Friday, January 31st. Piper Sandler raised their target price on Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a report on Monday, December 23rd. Wells Fargo & Company dropped their target price on Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. Finally, BMO Capital Markets raised their target price on Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a report on Thursday, December 19th. Thirteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Blackstone currently has an average rating of “Hold” and an average price target of $172.38.

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.