Blackstone Inc. (NYSE:BX) Shares Bought by Nemes Rush Group LLC

Nemes Rush Group LLC increased its stake in Blackstone Inc. (NYSE:BX) by 49.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 334 shares of the asset manager’s stock after purchasing an additional 111 shares during the period. Nemes Rush Group LLC’s holdings in Blackstone were worth $58,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in BX. Norges Bank bought a new position in shares of Blackstone during the fourth quarter worth about $974,448,000. Raymond James Financial Inc. bought a new position in Blackstone in the 4th quarter worth about $316,257,000. Vanguard Group Inc. raised its holdings in shares of Blackstone by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 66,894,632 shares of the asset manager’s stock valued at $11,533,972,000 after buying an additional 889,286 shares during the last quarter. Proficio Capital Partners LLC grew its holdings in Blackstone by 2,057.7% in the 4th quarter. Proficio Capital Partners LLC now owns 844,755 shares of the asset manager’s stock worth $145,653,000 after buying an additional 805,604 shares in the last quarter. Finally, Axiom Investors LLC DE raised its stake in Blackstone by 61.2% during the 4th quarter. Axiom Investors LLC DE now owns 1,984,892 shares of the asset manager’s stock valued at $342,235,000 after acquiring an additional 753,766 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors.

Blackstone Stock Up 3.5 %

Shares of NYSE:BX opened at $147.80 on Thursday. Blackstone Inc. has a 52 week low of $115.82 and a 52 week high of $200.96. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67. The company has a market cap of $107.81 billion, a PE ratio of 40.72, a price-to-earnings-growth ratio of 1.07 and a beta of 1.61. The firm has a 50 day simple moving average of $158.58 and a 200 day simple moving average of $167.47.

Blackstone (NYSE:BX) last issued 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 return on equity of 19.58% and a net margin of 20.99%. As a group, research analysts expect that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were paid a $1.44 dividend. This represents a $5.76 annualized dividend and a yield of 3.90%. 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 dividend payout ratio is currently 158.68%.

Analyst Ratings Changes

A number of research analysts have recently commented on BX shares. Wells Fargo & Company lowered their price target on Blackstone from $180.00 to $160.00 and set an “equal weight” rating on the stock in a report on Thursday, March 20th. Piper Sandler boosted 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. Barclays reiterated an “equal weight” rating on shares of Blackstone in a research note on Friday, February 7th. Keefe, Bruyette & Woods increased their price target on Blackstone from $174.00 to $177.00 and gave the company a “market perform” rating in a research note on Friday, January 31st. Finally, UBS Group upgraded Blackstone from a “neutral” rating to a “buy” rating and set a $180.00 price objective for the company in a report on Monday, March 17th. Twelve investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Blackstone currently has an average rating of “Hold” and a consensus price target of $171.13.

Insider Buying and Selling at Blackstone

In other news, Director Ruth Porat purchased 301 shares of Blackstone stock in a transaction dated Tuesday, February 18th. The stock was acquired at an average cost of $164.85 per share, for a total transaction of $49,619.85. Following the acquisition, the director now directly owns 36,829 shares in the company, valued at $6,071,260.65. This represents a 0.82 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company 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.