Blackstone Inc. (NYSE:BX) Shares Bought by Fortis Capital Advisors LLC

Fortis Capital Advisors LLC grew its stake in shares of Blackstone Inc. (NYSE:BX) by 31.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,275 shares of the asset manager’s stock after acquiring an additional 3,214 shares during the quarter. Blackstone comprises approximately 0.8% of Fortis Capital Advisors LLC’s investment portfolio, making the stock its 19th largest holding. Fortis Capital Advisors LLC’s holdings in Blackstone were worth $2,289,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Bangor Savings Bank increased its holdings in shares of 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 purchasing an additional 105 shares during the period. Hager Investment Management Services LLC acquired a new position in Blackstone in the 4th quarter worth approximately $28,000. Centricity Wealth Management LLC purchased a new position in Blackstone during the 4th quarter worth approximately $30,000. Roxbury Financial LLC purchased a new stake in shares of Blackstone in the 4th quarter valued at $34,000. Finally, Murphy & Mullick Capital Management Corp purchased a new position in shares of Blackstone during the fourth quarter worth $33,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Blackstone

In other Blackstone news, Director Ruth Porat bought 301 shares of Blackstone stock in a transaction on Tuesday, February 18th. The shares were bought at an average price of $164.85 per share, for a total transaction of $49,619.85. Following the completion of the transaction, the director now directly owns 36,829 shares of the company’s stock, valued at $6,071,260.65. This trade represents a 0.82 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Insiders own 1.00% of the company’s stock.

Blackstone Trading Down 0.2 %

Shares of BX stock opened at $127.19 on Friday. The stock’s fifty day moving average is $149.11 and its two-hundred day moving average is $165.63. The firm has a market capitalization of $92.77 billion, a P/E ratio of 35.04, a PEG ratio of 1.07 and a beta of 1.61. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67. Blackstone Inc. has a fifty-two week low of $115.66 and a fifty-two week high of $200.96.

Blackstone (NYSE:BX) last released its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 EPS 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%. Research analysts expect that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were issued a $1.44 dividend. This is a boost from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 annualized dividend and a yield of 4.53%. The ex-dividend date of this dividend was Monday, February 10th. Blackstone’s dividend payout ratio is presently 158.68%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Wells Fargo & Company cut their price target on Blackstone from $160.00 to $139.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Keefe, Bruyette & Woods lifted their price target on Blackstone from $174.00 to $177.00 and gave the company a “market perform” rating in a research report on Friday, January 31st. Citigroup dropped their price objective on shares of Blackstone from $190.00 to $137.00 and set a “neutral” rating on the stock in a research note on Tuesday. TD Cowen lowered their price target on shares of Blackstone from $233.00 to $147.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, StockNews.com lowered shares of Blackstone from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Eleven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $157.22.

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.