40,691 Shares in Blackstone Inc. (NYSE:BX) Bought by Marvin & Palmer Associates Inc.

Marvin & Palmer Associates Inc. purchased a new stake in Blackstone Inc. (NYSE:BX) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 40,691 shares of the asset manager’s stock, valued at approximately $7,016,000. Blackstone comprises approximately 5.4% of Marvin & Palmer Associates Inc.’s portfolio, making the stock its 6th biggest holding.

A number of other large investors have also recently added to or reduced their stakes in BX. Bangor Savings Bank lifted its stake in 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 acquiring an additional 105 shares during the last quarter. Hager Investment Management Services LLC acquired a new stake in Blackstone in the fourth quarter valued at $28,000. Centricity Wealth Management LLC acquired a new stake in Blackstone in the fourth quarter valued at $30,000. Berbice Capital Management LLC acquired a new stake in Blackstone in the fourth quarter valued at $34,000. Finally, Comprehensive Financial Planning Inc. PA bought a new position in shares of Blackstone in the fourth quarter valued at about $34,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Trading Down 0.3 %

BX opened at $145.12 on Monday. The company’s 50 day moving average is $169.33 and its 200-day moving average is $167.23. Blackstone Inc. has a 1-year low of $115.82 and a 1-year 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 company has a market cap of $105.86 billion, a P/E ratio of 39.98, a PEG ratio of 1.07 and a beta of 1.55.

Blackstone (NYSE:BX) last posted its quarterly earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share for the quarter, beating 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%. Equities research analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current fiscal 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 is an increase from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 annualized dividend and a yield of 3.97%. Blackstone’s dividend payout ratio (DPR) is currently 158.68%.

Insider Buying and Selling

In other Blackstone news, Director Ruth Porat bought 301 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were acquired at an average cost of $164.85 per share, for a total transaction of $49,619.85. Following the transaction, the director now directly owns 36,829 shares in the company, valued at approximately $6,071,260.65. This represents a 0.82 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company dropped 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. Citigroup reissued a “hold” rating on shares of Blackstone in a research report on Friday, February 7th. JPMorgan Chase & Co. increased their price objective on shares of Blackstone from $149.00 to $154.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Piper Sandler raised their price target on shares of Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a research report on Monday, December 23rd. Finally, TD Cowen raised shares of Blackstone from a “hold” rating to a “buy” rating and raised their price target for the stock 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 assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $172.38.

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.