1,561 Shares in Blackstone Inc. (NYSE:BX) Purchased by Money Concepts Capital Corp

Money Concepts Capital Corp bought a new position in shares of Blackstone Inc. (NYSE:BX) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 1,561 shares of the asset manager’s stock, valued at approximately $269,000.

Several other hedge funds and other institutional investors have also modified their holdings of BX. West Financial Advisors LLC bought a new stake in shares of Blackstone during the 3rd quarter worth about $27,000. Bangor Savings Bank raised 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 purchasing an additional 105 shares in the last quarter. Hager Investment Management Services LLC acquired a new stake in Blackstone in the 4th quarter worth about $28,000. Berbice Capital Management LLC acquired a new stake in Blackstone in the 4th quarter worth about $34,000. Finally, Raleigh Capital Management Inc. raised its stake in Blackstone by 32.1% in the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after purchasing an additional 62 shares in the last quarter. Institutional investors own 70.00% of the company’s stock.

Blackstone Trading Down 0.2 %

BX opened at $174.50 on Friday. Blackstone Inc. has a fifty-two week low of $115.82 and a fifty-two week 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. The firm has a market capitalization of $125.99 billion, a price-to-earnings ratio of 48.07, a PEG ratio of 1.18 and a beta of 1.53. The company’s 50 day moving average price is $179.07 and its two-hundred day moving average price is $163.20.

Blackstone (NYSE:BX) last posted 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, research analysts predict that Blackstone Inc. will post 5.86 earnings per share for the current year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th will be paid a $1.44 dividend. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date of this dividend is Monday, February 10th. Blackstone’s dividend payout ratio is currently 158.68%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on BX. Morgan Stanley lifted their price objective on shares of Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. The Goldman Sachs Group boosted their target price on shares of Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. TD Cowen upgraded shares of Blackstone from a “hold” rating to a “buy” rating and boosted their target price for the company from $149.00 to $230.00 in a research report on Monday, December 9th. JPMorgan Chase & Co. boosted their target price 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. Finally, BMO Capital Markets boosted their target price on shares of Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a research report on Thursday, December 19th. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Blackstone has a consensus rating of “Hold” and a consensus price target 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.