289 Shares in Blackstone Inc. (NYSE:BX) Acquired by Stonebridge Financial Group LLC

Stonebridge Financial Group LLC purchased a new stake in Blackstone Inc. (NYSE:BX) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 289 shares of the asset manager’s stock, valued at approximately $50,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bangor Savings Bank increased its stake in Blackstone by 187.5% during the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock worth $28,000 after acquiring an additional 105 shares during the last quarter. Hager Investment Management Services LLC acquired a new stake in Blackstone during the 4th quarter worth approximately $28,000. Berbice Capital Management LLC acquired a new position in Blackstone during the fourth quarter valued at approximately $34,000. Comprehensive Financial Planning Inc. PA acquired a new stake in shares of Blackstone in the fourth quarter worth $34,000. Finally, Kieckhefer Group LLC purchased a new position in shares of Blackstone in the 4th quarter valued at $39,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Barclays lowered their price target on Blackstone from $192.00 to $186.00 and set an “equal weight” rating for the company in a report on Friday, January 31st. Cowen reiterated a “hold” rating on shares of Blackstone in a report on Friday, October 18th. UBS Group increased their price objective on shares of Blackstone from $170.00 to $180.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Bank of America boosted their target price on shares of Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Finally, BMO Capital Markets lifted their price target on shares of Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a research note on Thursday, December 19th. Thirteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $172.38.

Blackstone Price Performance

Shares of NYSE BX opened at $160.40 on Friday. The business has a 50 day simple moving average of $177.07 and a 200-day simple moving average of $164.14. Blackstone Inc. has a twelve month low of $115.82 and a twelve month high of $200.96. The company has a market capitalization of $115.81 billion, a price-to-earnings ratio of 44.19, a price-to-earnings-growth ratio of 1.13 and a beta of 1.53. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61.

Blackstone (NYSE:BX) last issued its earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.19. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. As a group, equities research analysts expect that Blackstone Inc. will post 5.88 earnings per share for the current year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th will be given a dividend of $1.44 per share. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.59%. This is a boost from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend is Monday, February 10th. Blackstone’s dividend payout ratio is presently 94.77%.

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.