MTM Investment Management LLC Purchases Shares of 1,358 Blackstone Inc. (NYSE:BX)

MTM Investment Management LLC purchased a new stake in Blackstone Inc. (NYSE:BX) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,358 shares of the asset manager’s stock, valued at approximately $234,000.

Several other institutional investors also recently modified their holdings of BX. Bangor Savings Bank grew its position in Blackstone by 187.5% during 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 purchased a new position in Blackstone during the 4th quarter worth approximately $28,000. Berbice Capital Management LLC purchased a new position in Blackstone during the 4th quarter worth approximately $34,000. Comprehensive Financial Planning Inc. PA purchased a new position in Blackstone during the 4th quarter worth approximately $34,000. Finally, Kieckhefer Group LLC purchased a new position in Blackstone during the 4th quarter worth approximately $39,000. Institutional investors own 70.00% of the company’s stock.

Blackstone Trading Down 2.4 %

Shares of NYSE BX opened at $160.90 on Thursday. The company’s 50 day simple moving average is $177.56 and its 200 day simple moving average is $164.16. Blackstone Inc. has a fifty-two week low of $115.82 and a fifty-two week high of $200.96. The firm has a market capitalization of $116.17 billion, a P/E ratio of 44.33, a P/E/G ratio of 1.13 and a beta of 1.53. 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) last posted its earnings results 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 net margin of 20.99% and a return on equity of 19.58%. On average, analysts predict that Blackstone Inc. will post 5.88 EPS for the current year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Monday, February 10th will be issued a dividend of $1.44 per share. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.58%. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend is Monday, February 10th. Blackstone’s dividend payout ratio (DPR) is presently 94.77%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on BX shares. StockNews.com cut shares of Blackstone from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Cowen reissued a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. The Goldman Sachs Group boosted their target price on shares of Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Wells Fargo & Company cut their target price on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. Finally, BMO Capital Markets upped their price objective 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 issued a buy rating to the company. According to data from MarketBeat, Blackstone presently has a consensus rating of “Hold” and an average target price of $172.38.

About Blackstone

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.