Summit Trail Advisors LLC Buys 6,707 Shares of Blackstone Inc. (NYSE:BX)

Summit Trail Advisors LLC raised its holdings in shares of Blackstone Inc. (NYSE:BX) by 46.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,053 shares of the asset manager’s stock after purchasing an additional 6,707 shares during the quarter. Summit Trail Advisors LLC’s holdings in Blackstone were worth $3,630,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in BX. Sather Financial Group Inc grew its stake in Blackstone by 202.5% in the third quarter. Sather Financial Group Inc now owns 6,050 shares of the asset manager’s stock valued at $926,000 after purchasing an additional 4,050 shares during the last quarter. Portside Wealth Group LLC acquired a new stake in shares of Blackstone during the third quarter worth about $201,000. Aljian Capital Management LLC acquired a new position in Blackstone in the third quarter valued at approximately $1,951,000. Icon Wealth Advisors LLC raised its stake in shares of Blackstone by 2,185.4% during the 3rd quarter. Icon Wealth Advisors LLC now owns 18,946 shares of the asset manager’s stock worth $2,901,000 after buying an additional 18,117 shares during the period. Finally, Highland Capital Management LLC raised its stake in shares of Blackstone by 214.2% during the 4th quarter. Highland Capital Management LLC now owns 22,303 shares of the asset manager’s stock worth $3,845,000 after buying an additional 15,205 shares during the period. 70.00% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Bank of America boosted their price target on Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. BMO Capital Markets upped their price target on Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a research note on Thursday, December 19th. Piper Sandler increased their target price on Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a research note on Monday, December 23rd. JPMorgan Chase & Co. increased their price target on Blackstone from $149.00 to $154.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Finally, Evercore ISI increased their price objective on Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Thirteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $172.38.

Blackstone Trading Down 1.0 %

NYSE:BX opened at $168.52 on Tuesday. The stock’s 50 day moving average price is $178.36 and its 200 day moving average price is $163.80. Blackstone Inc. has a 52-week low of $115.82 and a 52-week high of $200.96. The company has a market capitalization of $121.67 billion, a PE ratio of 46.42, a P/E/G ratio of 1.13 and a beta of 1.53. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61.

Blackstone (NYSE:BX) last announced its earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share 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 anticipate that Blackstone Inc. will post 5.88 EPS for the current year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th will be issued a $1.44 dividend. This is a boost from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 annualized dividend and a dividend yield of 3.42%. The ex-dividend date of this dividend is Monday, February 10th. Blackstone’s dividend payout ratio (DPR) is currently 158.68%.

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.