Atlas Legacy Advisors LLC Buys Shares of 3,051 Blackstone Inc. (NYSE:BX)

Atlas Legacy Advisors LLC purchased a new position in Blackstone Inc. (NYSE:BX) during the 4th quarter, Holdings Channel.com reports. The firm purchased 3,051 shares of the asset manager’s stock, valued at approximately $526,000.

Other large investors have also added to or reduced their stakes in the company. Bangor Savings Bank raised its position in shares of Blackstone by 187.5% in 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 during the last quarter. Hager Investment Management Services LLC purchased a new position in Blackstone in the fourth quarter worth about $28,000. Berbice Capital Management LLC bought a new position in shares of Blackstone in the fourth quarter worth approximately $34,000. Comprehensive Financial Planning Inc. PA bought a new stake in shares of Blackstone during the fourth quarter valued at approximately $34,000. Finally, Roxbury Financial LLC bought a new position in Blackstone in the 4th quarter valued at approximately $34,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Trading Up 1.1 %

Shares of NYSE:BX opened at $166.59 on Wednesday. Blackstone Inc. has a 12-month low of $115.82 and a 12-month high of $200.96. The company has a market cap of $120.28 billion, a PE ratio of 45.89, a price-to-earnings-growth ratio of 1.13 and a beta of 1.53. The stock has a 50 day moving average of $175.23 and a 200 day moving average of $165.03. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 earnings per share (EPS) 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%. As a group, equities research analysts expect that Blackstone Inc. will post 5.88 EPS for the current year.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 10th were given a dividend of $1.44 per share. The ex-dividend date was Monday, February 10th. This represents a $5.76 annualized dividend and a dividend yield of 3.46%. This is a boost from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s dividend payout ratio (DPR) is currently 94.77%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on BX shares. Deutsche Bank Aktiengesellschaft boosted their price target on Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. raised their price target on shares of Blackstone from $149.00 to $154.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Wells Fargo & Company lowered their price objective on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. Barclays cut their target price on shares of Blackstone from $192.00 to $186.00 and set an “equal weight” rating for the company in a research report on Friday, January 31st. Finally, BMO Capital Markets raised their price target on Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a research note on Thursday, December 19th. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $172.38.

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.