Aveo Capital Partners LLC Invests $627,000 in Blackstone Inc. (NYSE:BX)

Aveo Capital Partners LLC bought a new position in Blackstone Inc. (NYSE:BX) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 3,637 shares of the asset manager’s stock, valued at approximately $627,000.

Other hedge funds also recently made changes to their positions in the company. Bangor Savings Bank lifted its stake in shares of Blackstone by 187.5% in the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 105 shares during the period. Hager Investment Management Services LLC acquired a new stake in shares of Blackstone in the fourth quarter valued at about $28,000. Berbice Capital Management LLC acquired a new stake in shares of Blackstone in the fourth quarter valued at about $34,000. Comprehensive Financial Planning Inc. PA acquired a new stake in shares of Blackstone in the fourth quarter valued at about $34,000. Finally, Raleigh Capital Management Inc. raised its position in Blackstone by 32.1% during the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after acquiring an additional 62 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on BX. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. UBS Group lifted their target price on shares of Blackstone from $170.00 to $180.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. BMO Capital Markets lifted their target price on shares of Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a research report on Thursday, December 19th. Wells Fargo & Company lowered their price target on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. Finally, Citigroup lifted their price target on shares of Blackstone from $170.00 to $190.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Thirteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Blackstone presently has a consensus rating of “Hold” and a consensus price target of $172.38.

Blackstone Trading Up 2.9 %

Shares of BX stock opened at $165.09 on Friday. The stock has a market cap of $119.19 billion, a price-to-earnings ratio of 45.48, a price-to-earnings-growth ratio of 1.13 and a beta of 1.53. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. Blackstone Inc. has a fifty-two week low of $115.82 and a fifty-two week high of $200.96. The firm’s 50 day moving average price is $176.09 and its two-hundred day moving average price is $164.28.

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 analysts’ consensus estimates of $1.50 by $0.19. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. On average, analysts anticipate that Blackstone Inc. will post 5.88 EPS for the current year.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th will be paid a $1.44 dividend. The ex-dividend date is Monday, February 10th. This is an increase from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 annualized dividend and a dividend yield of 3.49%. Blackstone’s dividend payout ratio is 94.77%.

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.