Parallel Advisors LLC Acquires 165 Shares of Blackstone Inc. (NYSE:BX)

Parallel Advisors LLC lifted its holdings in Blackstone Inc. (NYSE:BX) by 0.6% in the fourth quarter, Holdings Channel reports. The fund owned 29,269 shares of the asset manager’s stock after purchasing an additional 165 shares during the quarter. Parallel Advisors LLC’s holdings in Blackstone were worth $5,047,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Empirical Finance LLC raised its position in Blackstone by 55.8% in the 3rd quarter. Empirical Finance LLC now owns 4,272 shares of the asset manager’s stock worth $654,000 after purchasing an additional 1,530 shares during the period. Empowered Funds LLC raised its position in Blackstone by 12.5% in the 3rd quarter. Empowered Funds LLC now owns 29,148 shares of the asset manager’s stock worth $4,463,000 after purchasing an additional 3,236 shares during the period. Claro Advisors LLC raised its position in Blackstone by 5.0% in the 3rd quarter. Claro Advisors LLC now owns 6,095 shares of the asset manager’s stock worth $933,000 after purchasing an additional 291 shares during the period. Planning Directions Inc. purchased a new stake in Blackstone in the 3rd quarter worth about $236,000. Finally, Aljian Capital Management LLC purchased a new position in shares of Blackstone during the third quarter worth approximately $1,951,000. Institutional investors own 70.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on BX shares. UBS Group raised shares of Blackstone from a “neutral” rating to a “buy” rating and set a $180.00 target price on the stock in a research report on Monday. Keefe, Bruyette & Woods raised their target price on shares of Blackstone from $174.00 to $177.00 and gave the stock a “market perform” rating in a research report on Friday, January 31st. Wells Fargo & Company reduced their target price 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. TD Cowen raised shares of Blackstone from a “hold” rating to a “buy” rating and raised their target price for the stock from $149.00 to $230.00 in a research report on Monday, December 9th. Finally, StockNews.com lowered shares of Blackstone from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Twelve equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Blackstone presently has an average rating of “Hold” and an average target price of $172.38.

Blackstone Trading Up 4.8 %

NYSE BX opened at $147.67 on Tuesday. The company has a market capitalization of $107.72 billion, a PE ratio of 40.68, a P/E/G ratio of 1.07 and a beta of 1.55. The company has a fifty day moving average of $165.35 and a 200 day moving average of $167.26. Blackstone Inc. has a 1 year low of $115.82 and a 1 year high of $200.96. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71.

Blackstone (NYSE:BX) last posted its earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share (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 forecast that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.76 dividend on an annualized basis and a yield of 3.90%. Blackstone’s payout ratio is presently 158.68%.

Insider Buying and Selling at Blackstone

In related news, Director Ruth Porat bought 301 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was acquired at an average price 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 approximately $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 through the SEC website. 1.00% of the stock is owned by corporate 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.