Blackstone Inc. (NYSE:BX) Shares Acquired by Rathbones Group PLC

Rathbones Group PLC increased its position in shares of Blackstone Inc. (NYSE:BX) by 0.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,343 shares of the asset manager’s stock after purchasing an additional 209 shares during the quarter. Rathbones Group PLC’s holdings in Blackstone were worth $4,197,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Bangor Savings Bank increased its stake in Blackstone by 187.5% during the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after buying an additional 105 shares during the period. Hager Investment Management Services LLC purchased a new position in shares of Blackstone in the fourth quarter worth approximately $28,000. Centricity Wealth Management LLC purchased a new stake in shares of Blackstone in the fourth quarter valued at $30,000. Murphy & Mullick Capital Management Corp purchased a new position in Blackstone during the 4th quarter valued at about $33,000. Finally, Berbice Capital Management LLC acquired a new stake in shares of Blackstone during the 4th quarter valued at $34,000. Institutional investors own 70.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on BX. Wells Fargo & Company reduced their price objective on shares of Blackstone from $180.00 to $160.00 and set an “equal weight” rating for the company in a research note on Thursday, March 20th. Citigroup restated a “hold” rating on shares of Blackstone in a research note on Friday, February 7th. TD Cowen raised shares of Blackstone from a “hold” rating to a “buy” rating and lifted their price target for the company from $149.00 to $230.00 in a report on Monday, December 9th. Keefe, Bruyette & Woods increased their price objective on Blackstone from $174.00 to $177.00 and gave the company a “market perform” rating in a research report on Friday, January 31st. Finally, UBS Group upgraded Blackstone from a “neutral” rating to a “buy” rating and set a $180.00 target price on the stock in a report on Monday, March 17th. Twelve equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $168.50.

Blackstone Trading Down 0.5 %

Shares of BX opened at $124.37 on Tuesday. The firm’s 50 day simple moving average is $155.13 and its 200 day simple moving average is $166.95. Blackstone Inc. has a 1-year low of $115.66 and a 1-year high of $200.96. 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 has a market capitalization of $90.72 billion, a P/E ratio of 34.26, a P/E/G ratio of 1.07 and a beta of 1.61.

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 return on equity of 19.58% and a net margin of 20.99%. Sell-side analysts forecast that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th were paid a dividend of $1.44 per share. This represents a $5.76 dividend on an annualized basis and a dividend yield of 4.63%. The ex-dividend date was Monday, February 10th. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s dividend payout ratio is 158.68%.

Insider Buying and Selling at Blackstone

In other news, Director Ruth Porat bought 301 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was acquired at an average cost of $164.85 per share, with a total value of $49,619.85. Following the completion of the acquisition, the director now owns 36,829 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through the SEC website. 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.