Blackstone Inc. (NYSE:BX) Shares Acquired by Great Lakes Retirement Inc.

Great Lakes Retirement Inc. raised its position in Blackstone Inc. (NYSE:BX) by 2.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,815 shares of the asset manager’s stock after buying an additional 509 shares during the period. Great Lakes Retirement Inc.’s holdings in Blackstone were worth $3,244,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of BX. Bangor Savings Bank increased its position in shares of Blackstone by 187.5% in the 4th 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 acquired a new position in shares of Blackstone in the 4th quarter worth approximately $28,000. Berbice Capital Management LLC bought a new stake in Blackstone during the fourth quarter valued at $34,000. Comprehensive Financial Planning Inc. PA bought a new position in shares of Blackstone in the 4th quarter worth about $34,000. Finally, Raleigh Capital Management Inc. lifted its holdings in Blackstone by 32.1% in the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after acquiring an additional 62 shares during the last quarter. 70.00% of the stock is owned by hedge funds and other institutional investors.

Blackstone Price Performance

BX opened at $164.80 on Wednesday. The firm has a market capitalization of $118.98 billion, a P/E ratio of 45.40, a PEG ratio of 1.13 and a beta of 1.53. The stock has a fifty day moving average of $177.99 and a 200-day moving average of $164.00. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. Blackstone Inc. has a 12-month low of $115.82 and a 12-month high of $200.96.

Blackstone (NYSE:BX) last announced its quarterly earnings results on Thursday, January 30th. The asset manager reported $1.69 EPS for the quarter, beating 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%. Equities analysts forecast that Blackstone Inc. will post 5.88 EPS for the current fiscal year.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Monday, February 10th will be given 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 3.50%. The ex-dividend date of this dividend is Monday, February 10th. Blackstone’s dividend payout ratio (DPR) is 94.77%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on BX. UBS Group increased their price target on Blackstone from $170.00 to $180.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Bank of America upped their price target on shares of Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Wells Fargo & Company reduced their target price on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. JPMorgan Chase & Co. lifted their price target on Blackstone from $149.00 to $154.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Finally, Keefe, Bruyette & Woods increased their price objective on Blackstone from $174.00 to $177.00 and gave the stock a “market perform” rating 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 MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $172.38.

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.