Blackstone Inc. (NYSE:BX) Shares Acquired by Signature Estate & Investment Advisors LLC

Signature Estate & Investment Advisors LLC boosted its stake in shares of Blackstone Inc. (NYSE:BX) by 47.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 5,795 shares of the asset manager’s stock after purchasing an additional 1,877 shares during the period. Signature Estate & Investment Advisors LLC’s holdings in Blackstone were worth $999,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of BX. Bangor Savings Bank raised its stake in Blackstone by 187.5% in the 4th 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 last quarter. Hager Investment Management Services LLC acquired a new stake in shares of Blackstone in the fourth quarter valued at about $28,000. Centricity Wealth Management LLC purchased a new position in shares of Blackstone in the fourth quarter worth about $30,000. Berbice Capital Management LLC purchased a new stake in Blackstone during the 4th quarter valued at about $34,000. Finally, Comprehensive Financial Planning Inc. PA purchased a new position in Blackstone in the 4th quarter worth approximately $34,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Buying and Selling

In other Blackstone news, Director Ruth Porat purchased 301 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was purchased 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 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.00% of the company’s stock.

Blackstone Stock Performance

Shares of BX stock opened at $151.29 on Wednesday. Blackstone Inc. has a 52 week low of $115.82 and a 52 week high of $200.96. The firm has a 50 day moving average of $162.90 and a two-hundred day moving average of $167.69. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $110.35 billion, a PE ratio of 41.68, a P/E/G ratio of 1.07 and a beta of 1.55.

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, topping the consensus estimate of $1.50 by $0.19. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. On average, research analysts predict that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The company 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. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.81%. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Monday, February 10th. Blackstone’s dividend payout ratio (DPR) is presently 158.68%.

Analyst Upgrades and Downgrades

BX has been the subject of several recent research reports. Barclays reiterated an “equal weight” rating on shares of Blackstone in a research report on Friday, February 7th. JPMorgan Chase & Co. boosted their price target 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. StockNews.com downgraded shares of Blackstone from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Keefe, Bruyette & Woods raised their price target on shares of Blackstone from $174.00 to $177.00 and gave the stock a “market perform” rating in a report on Friday, January 31st. Finally, Wells Fargo & Company lowered their price objective on Blackstone from $180.00 to $160.00 and set an “equal weight” rating for the company in a research report on Thursday, March 20th. Twelve research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $171.13.

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.