1,344 Shares in Blackstone Inc. (NYSE:BX) Purchased by SPC Financial Inc.

SPC Financial Inc. acquired a new position in Blackstone Inc. (NYSE:BX) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,344 shares of the asset manager’s stock, valued at approximately $232,000.

Several other large investors also recently added to or reduced their stakes in the company. Atria Investments Inc increased its holdings in Blackstone by 4.8% in the 4th quarter. Atria Investments Inc now owns 84,089 shares of the asset manager’s stock worth $14,499,000 after acquiring an additional 3,816 shares during the last quarter. Assetmark Inc. grew its holdings in Blackstone by 8.8% during the 4th quarter. Assetmark Inc. now owns 65,472 shares of the asset manager’s stock valued at $11,289,000 after buying an additional 5,290 shares in the last quarter. WoodTrust Financial Corp grew its holdings in Blackstone by 0.9% during the 4th quarter. WoodTrust Financial Corp now owns 11,359 shares of the asset manager’s stock valued at $1,958,000 after buying an additional 100 shares in the last quarter. Abbot Financial Management Inc. grew its holdings in Blackstone by 0.7% during the 4th quarter. Abbot Financial Management Inc. now owns 26,644 shares of the asset manager’s stock valued at $4,594,000 after buying an additional 175 shares in the last quarter. Finally, Triad Wealth Partners LLC purchased a new position in Blackstone during the 4th quarter valued at about $469,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Stock Performance

NYSE:BX opened at $152.08 on Thursday. The business has a 50 day moving average of $170.52 and a 200 day moving average of $166.84. The company has a market capitalization of $109.80 billion, a price-to-earnings ratio of 41.90, a PEG ratio of 1.07 and a beta of 1.55. Blackstone Inc. has a 1-year low of $115.82 and a 1-year high of $200.96. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71.

Blackstone (NYSE:BX) last announced its quarterly earnings data 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, sell-side analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were given a $1.44 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.76 annualized dividend and a yield of 3.79%. This is an increase from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s payout ratio is presently 158.68%.

Insider Buying and Selling at Blackstone

In other Blackstone news, Director Ruth Porat bought 301 shares of Blackstone stock in a transaction dated Tuesday, February 18th. The shares were purchased at an average cost of $164.85 per share, with a total value of $49,619.85. Following the completion of the purchase, the director now owns 36,829 shares of the company’s stock, valued at approximately $6,071,260.65. This represents a 0.82 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

BX has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. lifted their target price on Blackstone from $149.00 to $154.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Deutsche Bank Aktiengesellschaft lifted their target price on Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a report on Monday, November 11th. StockNews.com downgraded Blackstone from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Wells Fargo & Company dropped their price target on Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. Finally, Piper Sandler lifted their price target on Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a research report on Monday, December 23rd. Thirteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Blackstone has a consensus rating of “Hold” and an average price target of $172.38.

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.