Intellectus Partners LLC Grows Stock Position in Blackstone Inc. (NYSE:BX)

Intellectus Partners LLC increased its position in Blackstone Inc. (NYSE:BX) by 6.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 18,619 shares of the asset manager’s stock after acquiring an additional 1,205 shares during the quarter. Blackstone comprises 0.7% of Intellectus Partners LLC’s investment portfolio, making the stock its 28th largest holding. Intellectus Partners LLC’s holdings in Blackstone were worth $3,210,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bangor Savings Bank raised its position in shares of Blackstone by 187.5% in the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 105 shares during the period. Hager Investment Management Services LLC purchased a new stake in shares of Blackstone during the fourth quarter worth $28,000. Centricity Wealth Management LLC purchased a new position in shares of Blackstone in the fourth quarter valued at $30,000. Roxbury Financial LLC purchased a new stake in Blackstone during the 4th quarter worth about $34,000. Finally, Berbice Capital Management LLC bought a new position in Blackstone in the 4th quarter worth about $34,000. 70.00% of the stock is currently owned by institutional investors.

Insider Transactions at Blackstone

In other news, Director Ruth Porat purchased 301 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were bought at an average price of $164.85 per share, for a total transaction of $49,619.85. Following the purchase, the director now directly owns 36,829 shares in the company, valued at approximately $6,071,260.65. This trade represents a 0.82 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.00% of the company’s stock.

Blackstone Stock Performance

NYSE:BX opened at $145.12 on Friday. The firm’s fifty day simple moving average is $169.33 and its 200 day simple moving average is $166.76. Blackstone Inc. has a twelve month low of $115.82 and a twelve month high of $200.96. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. The stock has a market cap of $104.78 billion, a P/E ratio of 39.98, a price-to-earnings-growth ratio of 1.07 and a beta of 1.55.

Blackstone (NYSE:BX) last issued its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 EPS for the quarter, topping the consensus estimate 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, research analysts predict that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were paid a dividend of $1.44 per share. This is an increase from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date was Monday, February 10th. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.97%. Blackstone’s dividend payout ratio (DPR) is currently 158.68%.

Wall Street Analyst Weigh In

Several research firms have issued reports on BX. StockNews.com cut shares of Blackstone from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Citigroup restated a “hold” rating on shares of Blackstone in a research report on Friday, February 7th. BMO Capital Markets boosted their price objective on Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a report on Thursday, December 19th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Blackstone from $149.00 to $154.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Thirteen research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Blackstone presently has an average rating of “Hold” and an average target price of $172.38.

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.