Blackstone Inc. (NYSE:BX) Shares Acquired by Bar Harbor Wealth Management

Bar Harbor Wealth Management increased its holdings in shares of Blackstone Inc. (NYSE:BX) by 3.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,405 shares of the asset manager’s stock after buying an additional 181 shares during the quarter. Bar Harbor Wealth Management’s holdings in Blackstone were worth $932,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BX. Quest Partners LLC increased its stake in Blackstone by 12,090.0% during the 2nd quarter. Quest Partners LLC now owns 1,219 shares of the asset manager’s stock valued at $151,000 after purchasing an additional 1,209 shares in the last quarter. American Century Companies Inc. raised its stake in Blackstone by 3.5% in the 2nd quarter. American Century Companies Inc. now owns 58,777 shares of the asset manager’s stock worth $7,277,000 after acquiring an additional 2,002 shares during the last quarter. BOKF NA lifted its position in Blackstone by 12.0% during the 2nd quarter. BOKF NA now owns 8,764 shares of the asset manager’s stock worth $1,085,000 after acquiring an additional 940 shares during the period. DekaBank Deutsche Girozentrale raised its stake in shares of Blackstone by 7.0% in the second quarter. DekaBank Deutsche Girozentrale now owns 182,722 shares of the asset manager’s stock worth $22,659,000 after purchasing an additional 11,927 shares during the last quarter. Finally, CoreCap Advisors LLC acquired a new stake in shares of Blackstone during the second quarter worth about $365,000. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider John G. Finley sold 42,249 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $175.94, for a total value 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

BX has been the subject of several research reports. Citigroup lifted their price objective on shares of Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Wells Fargo & Company lowered shares of Blackstone from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $188.00 to $195.00 in a report on Thursday, December 12th. BMO Capital Markets lifted their price objective on Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a research note on Thursday, December 19th. Piper Sandler raised their target price on Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a report on Monday, December 23rd. Finally, StockNews.com raised Blackstone from a “hold” rating to a “buy” rating in a report on Thursday. Twelve equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $170.50.

Blackstone Price Performance

Shares of Blackstone stock traded up $0.85 during mid-day trading on Monday, reaching $165.70. 2,634,127 shares of the stock traded hands, compared to its average volume of 2,651,956. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. 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 $119.64 billion, a PE ratio of 56.94, a PEG ratio of 1.63 and a beta of 1.53. The business has a 50-day moving average of $180.73 and a 200 day moving average of $156.98.

Blackstone (NYSE:BX) last released its earnings results on Thursday, October 17th. The asset manager reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.10. The business had revenue of $2.43 billion during 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%. On average, analysts predict that Blackstone Inc. will post 4.43 EPS for the current year.

Blackstone Increases Dividend

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