Blackstone Inc. (NYSE:BX) Shares Purchased by Kathmere Capital Management LLC

Kathmere Capital Management LLC lifted its position in Blackstone Inc. (NYSE:BX) by 4.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,430 shares of the asset manager’s stock after buying an additional 430 shares during the quarter. Kathmere Capital Management LLC’s holdings in Blackstone were worth $1,626,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. West Financial Advisors LLC acquired a new position in shares of Blackstone in the third quarter valued at approximately $27,000. Bangor Savings Bank grew its stake in shares of Blackstone by 187.5% in the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock worth $28,000 after acquiring an additional 105 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Blackstone during the second quarter worth $39,000. Raleigh Capital Management Inc. boosted its holdings in Blackstone by 32.1% in 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 period. Finally, Kieckhefer Group LLC purchased a new stake in Blackstone during the 4th quarter worth about $39,000. 70.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BX has been the subject of a number of analyst reports. Morgan Stanley boosted their price objective on Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Cowen reissued a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. Piper Sandler boosted their target price on shares of Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a research note on Monday, December 23rd. Deutsche Bank Aktiengesellschaft upped their price objective on Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Finally, Barclays decreased their target price on Blackstone from $199.00 to $192.00 and set an “equal weight” rating for the company in a research note on Monday. Twelve equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $169.56.

Insider Activity at Blackstone

In other Blackstone news, insider John G. Finley sold 42,249 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the sale, the insider now directly owns 387,137 shares in the company, valued at approximately $68,112,883.78. The trade was a 9.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.00% of the company’s stock.

Blackstone Stock Up 2.1 %

Blackstone stock opened at $169.27 on Wednesday. The stock has a market capitalization of $122.21 billion, a price-to-earnings ratio of 58.17, a PEG ratio of 1.63 and a beta of 1.53. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The stock has a 50 day moving average of $180.70 and a two-hundred day moving average of $157.59. Blackstone Inc. has a twelve month low of $114.88 and a twelve month high of $200.96.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Thursday, October 17th. The asset manager reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.10. The company had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.37 billion. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. As a group, research analysts expect that Blackstone Inc. will post 4.43 earnings per share for the current year.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Monday, October 28th were paid a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.03%. This is an increase from Blackstone’s previous quarterly dividend of $0.82. The ex-dividend date was Monday, October 28th. Blackstone’s dividend payout ratio is 118.21%.

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.