Blackstone Inc. (NYSE:BX) Shares Bought by Legacy Financial Advisors Inc.

Legacy Financial Advisors Inc. lifted its holdings in Blackstone Inc. (NYSE:BX) by 61.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,263 shares of the asset manager’s stock after purchasing an additional 865 shares during the period. Legacy Financial Advisors Inc.’s holdings in Blackstone were worth $390,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Bangor Savings Bank increased its holdings in shares of Blackstone by 187.5% in the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 105 shares during the last quarter. Hager Investment Management Services LLC purchased a new position in shares of Blackstone during the 4th quarter worth $28,000. Centricity Wealth Management LLC purchased a new stake in shares of Blackstone in the fourth quarter valued at about $30,000. Roxbury Financial LLC purchased a new position in Blackstone during the fourth quarter worth about $34,000. Finally, Murphy & Mullick Capital Management Corp purchased a new stake in shares of Blackstone in the 4th quarter valued at approximately $33,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Trading Down 7.5 %

Shares of BX stock opened at $127.06 on Friday. Blackstone Inc. has a twelve month low of $115.66 and a twelve month 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 business’s 50 day moving average is $149.98 and its two-hundred day moving average is $165.80. The company has a market capitalization of $92.68 billion, a P/E ratio of 35.00, a price-to-earnings-growth ratio of 1.07 and a beta of 1.61.

Blackstone (NYSE:BX) last released its earnings results on Thursday, January 30th. The asset manager reported $1.69 EPS for the quarter, topping the consensus estimate of $1.50 by $0.19. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. Equities analysts forecast that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were issued a $1.44 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.76 dividend on an annualized basis and a yield of 4.53%. This is an increase from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s dividend payout ratio (DPR) is 158.68%.

Insider Transactions at Blackstone

In other news, Director Ruth Porat acquired 301 shares of Blackstone stock in a transaction that occurred on Tuesday, February 18th. The stock was purchased at an average cost of $164.85 per share, with a total value of $49,619.85. Following the completion of the acquisition, the director now owns 36,829 shares in the company, valued at $6,071,260.65. This trade represents a 0.82 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Wells Fargo & Company decreased their price objective on Blackstone from $160.00 to $139.00 and set an “equal weight” rating on the stock in a report on Tuesday. BMO Capital Markets boosted their price objective on shares of Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a report on Thursday, December 19th. Piper Sandler dropped their price target on shares of Blackstone from $182.00 to $140.00 and set a “neutral” rating for the company in a research report on Tuesday. UBS Group upgraded shares of Blackstone from a “neutral” rating to a “buy” rating and set a $180.00 price target on the stock in a research note on Monday, March 17th. Finally, Citizens Jmp upgraded shares of Blackstone from a “market perform” rating to an “outperform” rating and set a $165.00 target price on the stock in a report on Tuesday. Eleven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Blackstone currently has an average rating of “Hold” and a consensus price target of $157.22.

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.