Stelac Advisory Services LLC Makes New Investment in Blackstone Inc. (NYSE:BX)

Stelac Advisory Services LLC bought a new stake in shares of Blackstone Inc. (NYSE:BX) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 592 shares of the asset manager’s stock, valued at approximately $102,000.

A number of other institutional investors also recently modified their holdings of BX. OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in shares of Blackstone in the 3rd quarter valued at $245,000. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Blackstone by 1.5% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,591,452 shares of the asset manager’s stock valued at $243,699,000 after purchasing an additional 24,199 shares during the last quarter. Verus Capital Partners LLC lifted its stake in shares of Blackstone by 2.4% in the 3rd quarter. Verus Capital Partners LLC now owns 5,882 shares of the asset manager’s stock valued at $901,000 after purchasing an additional 136 shares during the last quarter. Ashton Thomas Private Wealth LLC lifted its stake in shares of Blackstone by 0.7% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 21,012 shares of the asset manager’s stock valued at $3,218,000 after purchasing an additional 151 shares during the last quarter. Finally, Savvy Advisors Inc. lifted its stake in shares of Blackstone by 29.2% in the 3rd quarter. Savvy Advisors Inc. now owns 2,179 shares of the asset manager’s stock valued at $334,000 after purchasing an additional 492 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Transactions at Blackstone

In other news, Director Ruth Porat acquired 301 shares of the company’s stock in a transaction dated 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 completion of the acquisition, the director now owns 36,829 shares in the company, valued at approximately $6,071,260.65. This represents a 0.82 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.00% of the company’s stock.

Blackstone Stock Performance

NYSE:BX opened at $140.46 on Thursday. Blackstone Inc. has a 12-month low of $115.82 and a 12-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 firm has a market capitalization of $102.46 billion, a PE ratio of 38.70, a price-to-earnings-growth ratio of 1.07 and a beta of 1.55. The firm has a 50-day moving average price of $167.34 and a 200 day moving average price of $167.06.

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

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th were issued a dividend of $1.44 per share. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.76 annualized dividend and a dividend yield of 4.10%. Blackstone’s dividend payout ratio (DPR) is presently 158.68%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on BX shares. Wells Fargo & Company reduced their price objective on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. Keefe, Bruyette & Woods upped their price target on shares of Blackstone from $174.00 to $177.00 and gave the company a “market perform” rating in a report on Friday, January 31st. JPMorgan Chase & Co. upped their price target on shares of Blackstone from $149.00 to $154.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Piper Sandler upped their price target on shares of Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a report on Monday, December 23rd. Finally, UBS Group restated a “neutral” rating on shares of Blackstone in a report on Monday, March 3rd. Thirteen research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus 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.