Rheos Capital Works Inc. Buys 3,000 Shares of Blackstone Inc. (NYSE:BX)

Rheos Capital Works Inc. raised its position in shares of Blackstone Inc. (NYSE:BX) by 2.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 106,000 shares of the asset manager’s stock after buying an additional 3,000 shares during the period. Rheos Capital Works Inc.’s holdings in Blackstone were worth $18,277,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Bangor Savings Bank raised its holdings in Blackstone by 187.5% in the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock worth $28,000 after purchasing an additional 105 shares in the last quarter. West Financial Advisors LLC purchased a new position in shares of Blackstone during the third quarter valued at about $27,000. Berbice Capital Management LLC purchased a new stake in Blackstone in the fourth quarter worth about $34,000. Kieckhefer Group LLC purchased a new position in shares of Blackstone during the 4th quarter worth approximately $39,000. Finally, Raleigh Capital Management Inc. lifted its stake in shares of Blackstone by 32.1% in the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock valued at $39,000 after purchasing an additional 62 shares during the period. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insider Activity at Blackstone

In other Blackstone news, insider John G. Finley sold 42,249 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $175.94, for a total value of $7,433,289.06. Following the sale, the insider now owns 387,137 shares in the company, valued at $68,112,883.78. The trade was a 9.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on BX shares. TD Cowen upgraded Blackstone from a “hold” rating to a “buy” rating and increased their price objective for the stock from $149.00 to $230.00 in a report on Monday, December 9th. Evercore ISI upped their price target on shares of Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. UBS Group lifted their target price on shares of Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Barclays reduced their price target on shares of Blackstone from $192.00 to $186.00 and set an “equal weight” rating for the company in a research report on Friday. Finally, StockNews.com lowered Blackstone from a “buy” rating to a “hold” rating in a report on Friday. Thirteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Blackstone presently has an average rating of “Hold” and an average target price of $171.13.

Blackstone Trading Down 0.5 %

Shares of BX stock opened at $176.92 on Monday. The company has a market cap of $127.74 billion, a price-to-earnings ratio of 48.74, a PEG ratio of 1.18 and a beta of 1.53. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71. The firm has a fifty day moving average price of $180.15 and a 200-day moving average price of $162.63. Blackstone Inc. has a 1 year low of $115.82 and a 1 year high of $200.96.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.19. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. As a group, equities analysts predict that Blackstone Inc. will post 5.86 earnings per share for the current year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th will be given a $1.44 dividend. This represents a $5.76 annualized dividend and a dividend yield of 3.26%. This is an increase from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend is Monday, February 10th. Blackstone’s payout ratio is presently 94.77%.

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.