1,566 Shares in Blackstone Inc. (NYSE:BX) Bought by Summit X LLC

Summit X LLC bought a new position in shares of Blackstone Inc. (NYSE:BX) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,566 shares of the asset manager’s stock, valued at approximately $270,000.

A number of other large investors have also modified their holdings of the business. Moors & Cabot Inc. grew its holdings in shares of Blackstone by 2.4% during the fourth quarter. Moors & Cabot Inc. now owns 55,898 shares of the asset manager’s stock worth $9,638,000 after buying an additional 1,312 shares in the last quarter. AGF Management Ltd. purchased a new stake in shares of Blackstone during the fourth quarter worth $740,000. Wealthfront Advisers LLC boosted its position in shares of Blackstone by 76.8% during the 4th quarter. Wealthfront Advisers LLC now owns 108,421 shares of the asset manager’s stock valued at $18,694,000 after acquiring an additional 47,095 shares during the last quarter. GC Wealth Management RIA LLC acquired a new position in shares of Blackstone during the 4th quarter valued at about $269,000. Finally, King Luther Capital Management Corp boosted its position in shares of Blackstone by 39.4% during the 4th quarter. King Luther Capital Management Corp now owns 14,103 shares of the asset manager’s stock valued at $2,432,000 after acquiring an additional 3,985 shares during the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Stock Up 1.7 %

BX stock opened at $140.46 on Thursday. The company’s 50 day moving average price is $167.34 and its 200 day moving average price is $167.06. 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 $115.82 and a fifty-two week high of $200.96. The firm has a market capitalization of $102.46 billion, a price-to-earnings ratio of 38.70, a PEG ratio of 1.07 and a beta of 1.55.

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 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 EPS for the current fiscal year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were paid a $1.44 dividend. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 annualized dividend and a yield of 4.10%. The ex-dividend date of this dividend was Monday, February 10th. Blackstone’s dividend payout ratio is currently 158.68%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on BX shares. Piper Sandler boosted their price target on shares of Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a research report on Monday, December 23rd. BMO Capital Markets boosted their price target on shares of Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a research report on Thursday, December 19th. UBS Group reaffirmed a “neutral” rating on shares of Blackstone in a research report on Monday, March 3rd. JPMorgan Chase & Co. upped their target price 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. Finally, Wells Fargo & Company reduced their price target on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $172.38.

Insider Buying and Selling at Blackstone

In other Blackstone news, Director Ruth Porat bought 301 shares of the stock in a transaction dated Tuesday, February 18th. The shares were acquired at an average cost of $164.85 per share, for a total transaction of $49,619.85. Following the completion of the transaction, the director now owns 36,829 shares in the company, valued at approximately $6,071,260.65. The trade was a 0.82 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.00% of the stock is currently owned by insiders.

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.