RMR Wealth Builders Has $3.15 Million Position in Blackstone Inc. (NYSE:BX)

RMR Wealth Builders raised its position in Blackstone Inc. (NYSE:BX) by 84.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,271 shares of the asset manager’s stock after purchasing an additional 8,371 shares during the quarter. RMR Wealth Builders’ holdings in Blackstone were worth $3,150,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. West Financial Advisors LLC acquired a new position in Blackstone during the 3rd quarter valued at $27,000. Bangor Savings Bank lifted its position in shares of Blackstone by 187.5% during the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock worth $28,000 after buying an additional 105 shares during the period. Strategic Investment Solutions Inc. IL acquired a new position in Blackstone in the second quarter valued at about $39,000. Raleigh Capital Management Inc. raised its stake in shares of Blackstone by 32.1% in the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock valued at $39,000 after acquiring an additional 62 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. increased its holdings in Blackstone by 57.7% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 276 shares of the asset manager’s stock valued at $43,000 after purchasing an additional 101 shares in the last quarter. 70.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on BX. Bank of America lifted their price target on Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a report on Friday, October 18th. UBS Group upped their price target on Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Cowen reiterated a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. BMO Capital Markets raised their price target on Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a research report on Thursday, December 19th. Finally, Barclays upped their target price on shares of Blackstone from $174.00 to $199.00 and gave the company an “equal weight” rating in a research note on Monday, December 9th. Thirteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $171.00.

Blackstone Stock Performance

BX stock traded down $8.97 during trading hours on Friday, reaching $165.00. The stock had a trading volume of 5,077,164 shares, compared to its average volume of 2,703,596. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71. The stock has a 50-day simple moving average of $180.80 and a 200 day simple moving average of $156.25. Blackstone Inc. has a fifty-two week low of $114.88 and a fifty-two week high of $200.96. The stock has a market capitalization of $119.13 billion, a PE ratio of 56.70, a price-to-earnings-growth ratio of 1.63 and a beta of 1.53.

Blackstone (NYSE:BX) last released its quarterly earnings results on Thursday, October 17th. The asset manager reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.10. The business had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.37 billion. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. Analysts predict that Blackstone Inc. will post 4.43 EPS for the current fiscal year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Monday, October 28th were paid a $0.86 dividend. The ex-dividend date was Monday, October 28th. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 annualized dividend and a yield of 2.08%. Blackstone’s dividend payout ratio (DPR) is 118.21%.

Insider Transactions at Blackstone

In other Blackstone news, insider John G. Finley sold 42,249 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the transaction, the insider now directly owns 387,137 shares in the company, valued at approximately $68,112,883.78. This represents a 9.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company 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.