Redmond Asset Management LLC Buys 943 Shares of Blackstone Inc. (NYSE:BX)

Redmond Asset Management LLC increased its stake in shares of Blackstone Inc. (NYSE:BX) by 6.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,006 shares of the asset manager’s stock after buying an additional 943 shares during the quarter. Redmond Asset Management LLC’s holdings in Blackstone were worth $2,587,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Bangor Savings Bank boosted its position in Blackstone by 187.5% in the fourth 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 shares of Blackstone in the 4th quarter worth about $28,000. Centricity Wealth Management LLC purchased a new stake in Blackstone during the fourth quarter worth about $30,000. Berbice Capital Management LLC bought a new stake in Blackstone in the fourth quarter worth about $34,000. Finally, Comprehensive Financial Planning Inc. PA bought a new position in shares of Blackstone during the 4th quarter valued at approximately $34,000. 70.00% of the stock is currently owned by institutional investors.

Blackstone Price Performance

Shares of NYSE:BX opened at $158.21 on Friday. 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’s fifty day moving average price is $173.58 and its 200-day moving average price is $165.23. Blackstone Inc. has a one year low of $115.82 and a one year high of $200.96. The firm has a market capitalization of $114.23 billion, a price-to-earnings ratio of 43.58, a PEG ratio of 1.09 and a beta of 1.53.

Blackstone (NYSE:BX) last issued its quarterly earnings results 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%. On average, equities research analysts anticipate 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 issued a $1.44 dividend. The ex-dividend date was Monday, February 10th. This represents a $5.76 annualized dividend and a dividend yield of 3.64%. This is an increase from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s payout ratio is currently 158.68%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. BMO Capital Markets boosted their target price on Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a research note on Thursday, December 19th. JPMorgan Chase & Co. upped their price objective on shares of Blackstone from $149.00 to $154.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Keefe, Bruyette & Woods lifted their target price on shares of Blackstone from $174.00 to $177.00 and gave the stock a “market perform” rating in a research note on Friday, January 31st. Piper Sandler raised their price objective on shares of Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a report on Monday, December 23rd. Finally, Barclays lowered their target price on shares of Blackstone from $192.00 to $186.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. Thirteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Blackstone has a consensus rating of “Hold” and a consensus target price of $172.38.

Insider Buying and Selling at Blackstone

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 bought at an average cost of $164.85 per share, with a total value of $49,619.85. Following the completion of the purchase, 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 transaction was disclosed in a filing with the SEC, which is available at this link. 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.