Headland Capital LLC acquired a new stake in shares of Blackstone Inc. (NYSE:BX - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The fund acquired 1,953 shares of the asset manager's stock, valued at approximately $337,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Bangor Savings Bank increased its stake 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 acquiring an additional 105 shares during the last quarter. Hager Investment Management Services LLC purchased a new position in shares of Blackstone in the 4th quarter worth about $28,000. Centricity Wealth Management LLC purchased a new position in shares of Blackstone in the 4th quarter worth about $30,000. Roxbury Financial LLC purchased a new position in shares of Blackstone in the 4th quarter worth about $34,000. Finally, Murphy & Mullick Capital Management Corp purchased a new position in shares of Blackstone in the 4th quarter worth about $33,000. 70.00% of the stock is currently owned by institutional investors.
Insider Buying and Selling at Blackstone
In related news, Director Ruth Porat bought 301 shares of the stock in a transaction on Tuesday, February 18th. The shares were acquired at an average price of $164.85 per share, for a total transaction of $49,619.85. Following the purchase, the director now owns 36,829 shares of the company's stock, valued at approximately $6,071,260.65. The trade was a 0.82 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.00% of the company's stock.
Analyst Ratings Changes
BX has been the subject of several analyst reports. Barclays increased their target price on Blackstone from $129.00 to $136.00 and gave the company an "equal weight" rating in a report on Monday, April 21st. JMP Securities restated a "market outperform" rating and set a $165.00 target price on shares of Blackstone in a report on Thursday, April 24th. JPMorgan Chase & Co. increased their target price on Blackstone from $149.00 to $154.00 and gave the company a "neutral" rating in a report on Friday, January 31st. Cowen reiterated a "buy" rating on shares of Blackstone in a research report on Monday, April 21st. Finally, Keefe, Bruyette & Woods dropped their price target on Blackstone from $141.00 to $139.00 and set a "market perform" rating for the company in a research note on Tuesday, April 22nd. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $154.82.
Check Out Our Latest Stock Analysis on Blackstone
Blackstone Stock Performance
Shares of Blackstone stock opened at $133.45 on Wednesday. The stock has a market cap of $97.34 billion, a price-to-earnings ratio of 36.76, a PEG ratio of 1.07 and a beta of 1.61. The firm's 50-day moving average is $140.29 and its 200 day moving average is $163.84. Blackstone Inc. has a 1 year low of $115.66 and a 1 year high of $200.96. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71.
Blackstone (NYSE:BX - Get Free Report) last announced its quarterly earnings results on Thursday, April 17th. The asset manager reported $1.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.22 by ($0.13). The firm had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.95 billion. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. During the same quarter in the previous year, the firm earned $0.98 EPS. Sell-side analysts anticipate that Blackstone Inc. will post 5.87 EPS for the current fiscal year.
Blackstone Cuts Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Monday, April 28th will be paid a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 2.79%. The ex-dividend date is Monday, April 28th. Blackstone's dividend payout ratio is currently 112.05%.
About Blackstone
(
Free Report)
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.
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