Mystic Asset Management Inc. Has $304,000 Holdings in Blackstone Inc. (NYSE:BX)

Mystic Asset Management Inc. raised its stake in Blackstone Inc. (NYSE:BX) by 9.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,764 shares of the asset manager’s stock after purchasing an additional 147 shares during the period. Mystic Asset Management Inc.’s holdings in Blackstone were worth $304,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of BX. AMG National Trust Bank bought a new stake in Blackstone in the 3rd quarter valued at $233,000. Drive Wealth Management LLC bought a new position in shares of Blackstone during the 3rd quarter worth about $214,000. Caprock Group LLC lifted its holdings in shares of Blackstone by 58.1% during the 3rd quarter. Caprock Group LLC now owns 6,734 shares of the asset manager’s stock worth $1,031,000 after acquiring an additional 2,474 shares during the period. Whalen Wealth Management Inc. lifted its holdings in shares of Blackstone by 57.8% during the 3rd quarter. Whalen Wealth Management Inc. now owns 6,013 shares of the asset manager’s stock worth $921,000 after acquiring an additional 2,202 shares during the period. Finally, Vertex Planning Partners LLC bought a new position in shares of Blackstone during the 3rd quarter worth about $338,000. 70.00% of the stock is owned by institutional investors.

Blackstone Trading Down 1.1 %

BX opened at $146.11 on Wednesday. The firm has a 50 day simple moving average of $164.85 and a 200 day simple moving average of $167.29. The company has a market cap of $106.58 billion, a price-to-earnings ratio of 40.25, a price-to-earnings-growth ratio of 1.07 and a beta of 1.55. Blackstone Inc. has a fifty-two week low of $115.82 and a fifty-two week 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 quarterly earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share (EPS) 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, sell-side analysts anticipate that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 10th were given a $1.44 dividend. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.94%. This is an increase from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date was Monday, February 10th. Blackstone’s dividend payout ratio (DPR) is currently 158.68%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of Blackstone from $149.00 to $154.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. StockNews.com downgraded shares of Blackstone from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Keefe, Bruyette & Woods lifted their price target on shares of Blackstone from $174.00 to $177.00 and gave the company a “market perform” rating in a report on Friday, January 31st. Piper Sandler lifted their price target on shares of Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a report on Monday, December 23rd. Finally, Citigroup reissued a “hold” rating on shares of Blackstone in a report on Friday, February 7th. Twelve analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Blackstone has a consensus rating of “Hold” and a consensus target price of $172.38.

Insider Activity at Blackstone

In other news, Director Ruth Porat purchased 301 shares of the business’s stock in a transaction that occurred on 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 transaction, the director now directly owns 36,829 shares of the company’s stock, valued at approximately $6,071,260.65. The trade was a 0.82 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. 1.00% of the stock is currently 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.