Colonial River Investments LLC Purchases 188 Shares of Blackstone Inc. (NYSE:BX)

Colonial River Investments LLC increased its position in Blackstone Inc. (NYSE:BX) by 4.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,151 shares of the asset manager’s stock after acquiring an additional 188 shares during the period. Colonial River Investments LLC’s holdings in Blackstone were worth $716,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Glen Eagle Advisors LLC raised its stake in Blackstone by 1.8% in the 3rd quarter. Glen Eagle Advisors LLC now owns 3,251 shares of the asset manager’s stock worth $498,000 after acquiring an additional 59 shares during the last quarter. Avidian Wealth Enterprises LLC raised its stake in Blackstone by 0.4% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 16,184 shares of the asset manager’s stock worth $2,790,000 after acquiring an additional 59 shares during the last quarter. Investmark Advisory Group LLC raised its stake in Blackstone by 2.4% in the 3rd quarter. Investmark Advisory Group LLC now owns 2,608 shares of the asset manager’s stock worth $399,000 after acquiring an additional 60 shares during the last quarter. Capital Advisors Ltd. LLC grew its position in Blackstone by 2.3% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 2,787 shares of the asset manager’s stock worth $427,000 after purchasing an additional 62 shares during the period. Finally, Fidelis Capital Partners LLC grew its position in Blackstone by 2.7% during the 3rd quarter. Fidelis Capital Partners LLC now owns 2,374 shares of the asset manager’s stock worth $396,000 after purchasing an additional 62 shares during the period. Institutional investors own 70.00% of the company’s stock.

Analyst Upgrades and Downgrades

BX has been the topic of several analyst reports. Keefe, Bruyette & Woods increased their price target on Blackstone from $174.00 to $177.00 and gave the stock a “market perform” rating in a research report on Friday, January 31st. Deutsche Bank Aktiengesellschaft increased their price target on Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Citigroup restated a “hold” rating on shares of Blackstone in a research report on Friday, February 7th. BMO Capital Markets raised their target price on Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a research report on Thursday, December 19th. Finally, TD Cowen upgraded Blackstone from a “hold” rating to a “buy” rating and raised their target price for the company from $149.00 to $230.00 in a research report on Monday, December 9th. Thirteen research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $172.38.

Blackstone Trading Down 3.5 %

BX opened at $158.21 on Monday. 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 company’s 50 day simple moving average is $173.58 and its two-hundred day simple moving average is $165.74. Blackstone Inc. has a 1-year low of $115.82 and a 1-year high of $200.96. The firm has a market capitalization of $114.23 billion, a price-to-earnings ratio of 43.58, a price-to-earnings-growth ratio of 1.07 and a beta of 1.53.

Blackstone (NYSE:BX) last released 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%. Analysts expect that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th were given a dividend of $1.44 per share. This represents a $5.76 annualized dividend and a dividend yield of 3.64%. The ex-dividend date of this dividend was Monday, February 10th. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s payout ratio is presently 158.68%.

Insider Activity

In related news, Director Ruth Porat bought 301 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was purchased at an average price of $164.85 per share, for a total transaction of $49,619.85. Following the acquisition, the director now owns 36,829 shares of the company’s stock, valued at approximately $6,071,260.65. This trade represents a 0.82 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.00% of the company’s stock.

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.