Westmount Partners LLC Acquires 2,085 Shares of Blackstone Inc. (NYSE:BX)

Westmount Partners LLC raised its stake in Blackstone Inc. (NYSE:BX) by 61.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,501 shares of the asset manager’s stock after purchasing an additional 2,085 shares during the period. Westmount Partners LLC’s holdings in Blackstone were worth $948,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Fragasso Financial Advisors Inc lifted its holdings in shares of Blackstone by 10.1% in the fourth quarter. Fragasso Financial Advisors Inc now owns 3,832 shares of the asset manager’s stock worth $661,000 after acquiring an additional 353 shares during the last quarter. Kieckhefer Group LLC acquired a new stake in Blackstone during the 4th quarter valued at approximately $39,000. Capital Investment Advisors LLC boosted its holdings in shares of Blackstone by 1.6% during the 4th quarter. Capital Investment Advisors LLC now owns 12,136 shares of the asset manager’s stock worth $2,093,000 after buying an additional 194 shares in the last quarter. Brookstone Capital Management boosted its holdings in shares of Blackstone by 57.2% during the 4th quarter. Brookstone Capital Management now owns 9,422 shares of the asset manager’s stock worth $1,625,000 after buying an additional 3,428 shares in the last quarter. Finally, Trust Co. of Toledo NA OH lifted its holdings in shares of Blackstone by 7.5% in the 4th quarter. Trust Co. of Toledo NA OH now owns 20,616 shares of the asset manager’s stock worth $3,555,000 after purchasing an additional 1,432 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Blackstone

In other Blackstone news, insider John G. Finley sold 42,249 shares of Blackstone 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 of the company’s stock, valued at $68,112,883.78. The trade was a 9.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BX. Citigroup raised their target price on Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Bank of America boosted their price objective on Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a research report on Friday, October 18th. JPMorgan Chase & Co. upped their price target on Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Piper Sandler boosted 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, TD Cowen raised Blackstone from a “hold” rating to a “buy” rating and upped their price target for the company from $149.00 to $230.00 in a report on Monday, December 9th. Twelve equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $170.50.

Blackstone Stock Down 0.2 %

Blackstone stock traded down $0.37 during trading on Monday, reaching $164.48. The stock had a trading volume of 1,735,633 shares, compared to its average volume of 2,557,425. Blackstone Inc. has a 52-week low of $114.88 and a 52-week high of $200.96. The business has a 50 day moving average price of $180.73 and a 200 day moving average price of $156.98. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. The stock has a market cap of $118.76 billion, a PE ratio of 56.52, a P/E/G ratio of 1.63 and a beta of 1.53.

Blackstone (NYSE:BX) last issued its earnings results on Thursday, October 17th. The asset manager reported $1.01 EPS for the quarter, topping the consensus estimate of $0.91 by $0.10. The company 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%. On average, analysts predict that Blackstone Inc. will post 4.43 EPS for the current year.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Monday, October 28th were issued a dividend of $0.86 per share. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date of this dividend was Monday, October 28th. Blackstone’s payout ratio is presently 118.21%.

About Blackstone

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.