4,264 Shares in Blackstone Inc. (NYSE:BX) Bought by Coordinated Financial Services Inc.

Coordinated Financial Services Inc. bought a new stake in shares of Blackstone Inc. (NYSE:BX) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 4,264 shares of the asset manager’s stock, valued at approximately $735,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Bangor Savings Bank boosted its holdings in shares of Blackstone by 187.5% during the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 105 shares during the period. Hager Investment Management Services LLC acquired a new position in shares of Blackstone during the fourth quarter valued at $28,000. Centricity Wealth Management LLC acquired a new stake in Blackstone in the fourth quarter worth about $30,000. Roxbury Financial LLC acquired a new stake in Blackstone in the fourth quarter worth about $34,000. Finally, Berbice Capital Management LLC acquired a new stake in Blackstone in the fourth quarter worth about $34,000. Institutional investors own 70.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on BX shares. TD Cowen raised shares of Blackstone from a “hold” rating to a “buy” rating and upped their price objective for the stock from $149.00 to $230.00 in a report on Monday, December 9th. StockNews.com downgraded shares of Blackstone from a “buy” rating to a “hold” rating in a report on Friday, January 31st. UBS Group reissued a “neutral” rating on shares of Blackstone in a report on Monday, March 3rd. BMO Capital Markets upped their price target on shares of Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a report on Thursday, December 19th. Finally, Wells Fargo & Company cut their price objective on Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. Thirteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Blackstone currently has an average rating of “Hold” and an average target price of $172.38.

Blackstone Trading Down 0.3 %

Shares of NYSE BX opened at $145.12 on Friday. The stock has a market cap of $105.86 billion, a price-to-earnings ratio of 39.98, a PEG ratio of 1.07 and a beta of 1.55. The business has a 50 day simple moving average of $169.33 and a 200 day simple moving average of $167.00. Blackstone Inc. has a 52 week low of $115.82 and a 52 week high of $200.96. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67.

Blackstone (NYSE:BX) last announced its quarterly earnings results on Thursday, January 30th. The asset manager reported $1.69 EPS for the quarter, beating the consensus estimate of $1.50 by $0.19. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. On average, research analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 10th were paid a $1.44 dividend. This is a boost from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date was Monday, February 10th. This represents a $5.76 annualized dividend and a dividend yield of 3.97%. Blackstone’s payout ratio is presently 158.68%.

Insiders Place Their Bets

In related news, Director Ruth Porat bought 301 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was purchased at an average price of $164.85 per share, with a total value of $49,619.85. Following the completion of the transaction, the director now directly owns 36,829 shares of the company’s stock, valued at $6,071,260.65. This trade represents a 0.82 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.00% of the company’s stock.

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.