Blackstone Inc. (NYSE:BX) Shares Acquired by Newbridge Financial Services Group Inc.

Newbridge Financial Services Group Inc. increased its position in shares of Blackstone Inc. (NYSE:BX) by 2.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,723 shares of the asset manager’s stock after purchasing an additional 65 shares during the period. Newbridge Financial Services Group Inc.’s holdings in Blackstone were worth $469,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of BX. Bangor Savings Bank boosted its position in shares of Blackstone by 187.5% during the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 105 shares in the last quarter. Hager Investment Management Services LLC bought a new position in shares of Blackstone in the fourth quarter valued at $28,000. Berbice Capital Management LLC bought a new stake in shares of Blackstone during the 4th quarter worth $34,000. Raleigh Capital Management Inc. lifted its holdings in shares of Blackstone by 32.1% during the third 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 last quarter. Finally, Kieckhefer Group LLC acquired a new stake in Blackstone during the 4th quarter worth about $39,000. Institutional investors own 70.00% of the company’s stock.

Analyst Upgrades and Downgrades

BX has been the topic of a number of recent analyst reports. StockNews.com lowered shares of Blackstone from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Deutsche Bank Aktiengesellschaft raised their target price on Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. BMO Capital Markets increased their price objective on Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a research note on Thursday, December 19th. UBS Group increased their price target on shares of Blackstone from $170.00 to $180.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Finally, Citigroup increased their target price on shares of Blackstone from $170.00 to $190.00 and gave the stock 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 issued a buy rating to the company. According to MarketBeat, Blackstone has a consensus rating of “Hold” and an average target price of $172.38.

Blackstone Price Performance

Shares of Blackstone stock opened at $170.11 on Friday. The stock has a market capitalization of $122.82 billion, a price-to-earnings ratio of 46.86, a PEG ratio of 1.13 and a beta of 1.53. Blackstone Inc. has a 1-year low of $115.82 and a 1-year high of $200.96. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. The firm has a fifty day simple moving average of $178.36 and a 200-day simple moving average of $163.48.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 earnings per share for the quarter, topping 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, sell-side analysts expect that Blackstone Inc. will post 5.88 earnings per share for the current year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th will be issued a $1.44 dividend. The ex-dividend date of this dividend is Monday, February 10th. This is an increase from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 dividend on an annualized basis and a yield of 3.39%. Blackstone’s dividend payout ratio is 94.77%.

Blackstone Company 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.