Weybosset Research & Management LLC Takes Position in Blackstone Inc. (NYSE:BX)

Weybosset Research & Management LLC acquired a new position in shares of Blackstone Inc. (NYSE:BX) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,299 shares of the asset manager’s stock, valued at approximately $224,000.

Other large investors also recently bought and sold shares of the company. ORG Partners LLC increased its holdings in Blackstone by 232.1% during the 4th quarter. ORG Partners LLC now owns 279 shares of the asset manager’s stock valued at $48,000 after acquiring an additional 195 shares in the last quarter. Fulton Bank N.A. raised its position in shares of Blackstone by 0.9% during the 4th quarter. Fulton Bank N.A. now owns 11,202 shares of the asset manager’s stock worth $1,931,000 after purchasing an additional 103 shares during the last quarter. One Wealth Capital Management LLC purchased a new stake in Blackstone in the 4th quarter valued at approximately $210,000. Norway Savings Bank increased its position in Blackstone by 3.9% during the fourth quarter. Norway Savings Bank now owns 13,600 shares of the asset manager’s stock worth $2,345,000 after buying an additional 506 shares in the last quarter. Finally, Regent Peak Wealth Advisors LLC lifted its position in shares of Blackstone by 5.6% in the fourth quarter. Regent Peak Wealth Advisors LLC now owns 1,861 shares of the asset manager’s stock valued at $321,000 after acquiring an additional 99 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Analysts Set New Price Targets

BX has been the topic of several analyst reports. UBS Group raised their price target on shares of Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. StockNews.com upgraded Blackstone from a “hold” rating to a “buy” rating in a report on Thursday. Wells Fargo & Company cut Blackstone from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $188.00 to $195.00 in a report on Thursday, December 12th. Citigroup increased their target price on Blackstone from $157.00 to $170.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Thirteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Blackstone presently has a consensus rating of “Hold” and an average price target of $171.00.

Insider Activity at Blackstone

In other news, insider John G. Finley sold 42,249 shares of Blackstone stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $175.94, for a total value of $7,433,289.06. Following the completion of the transaction, the insider now directly owns 387,137 shares of the company’s stock, valued at approximately $68,112,883.78. The trade was a 9.84 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.00% of the stock is owned by corporate insiders.

Blackstone Stock Down 4.9 %

Blackstone stock traded down $8.58 during midday trading on Friday, hitting $165.39. 1,487,900 shares of the stock were exchanged, compared to its average volume of 2,076,677. 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 company has a 50 day moving average price of $180.80 and a two-hundred day moving average price of $156.25. The firm has a market cap of $119.41 billion, a P/E ratio of 56.84, a P/E/G ratio of 1.63 and a beta of 1.53. Blackstone Inc. has a 1 year low of $114.88 and a 1 year high of $200.96.

Blackstone (NYSE:BX) last issued its quarterly earnings data on Thursday, October 17th. The asset manager reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.10. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. The firm had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.37 billion. On average, sell-side analysts predict that Blackstone Inc. will post 4.43 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Monday, October 28th were paid a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend was Monday, October 28th. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s dividend payout ratio is 118.21%.

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.