Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Has $2.16 Million Holdings in Blackstone Inc. $BX

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its holdings in shares of Blackstone Inc. (NYSE:BX) by 1,118.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 12,657 shares of the asset manager’s stock after acquiring an additional 11,618 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Blackstone were worth $2,162,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Arcus Capital Partners LLC grew its position in Blackstone by 1.2% in the second quarter. Arcus Capital Partners LLC now owns 4,937 shares of the asset manager’s stock valued at $739,000 after purchasing an additional 58 shares in the last quarter. Mattern Wealth Management LLC lifted its position in shares of Blackstone by 2.8% during the 2nd quarter. Mattern Wealth Management LLC now owns 2,213 shares of the asset manager’s stock valued at $331,000 after acquiring an additional 60 shares during the period. GHP Investment Advisors Inc. raised its position in Blackstone by 3.5% during the second quarter. GHP Investment Advisors Inc. now owns 1,784 shares of the asset manager’s stock valued at $267,000 after purchasing an additional 61 shares in the last quarter. Sage Rhino Capital LLC boosted its stake in shares of Blackstone by 0.8% in the 2nd quarter. Sage Rhino Capital LLC now owns 8,036 shares of the asset manager’s stock valued at $1,202,000 after purchasing an additional 63 shares in the last quarter. Finally, WNY Asset Management LLC lifted its stake in shares of Blackstone by 1.7% in the 2nd quarter. WNY Asset Management LLC now owns 3,852 shares of the asset manager’s stock valued at $576,000 after acquiring an additional 64 shares during the last quarter. 70.00% of the stock is owned by institutional investors and hedge funds.

Blackstone Price Performance

Shares of NYSE:BX opened at $157.76 on Monday. The firm has a market cap of $116.50 billion, a price-to-earnings ratio of 45.07, a P/E/G ratio of 1.11 and a beta of 1.75. The firm has a fifty day moving average price of $149.54 and a 200 day moving average price of $161.10. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 0.75. Blackstone Inc. has a fifty-two week low of $115.66 and a fifty-two week high of $190.09.

Blackstone (NYSE:BX) last announced its earnings results on Friday, November 22nd. The asset manager reported $0.97 earnings per share (EPS) for the quarter. The business had revenue of $2.49 billion during the quarter. Blackstone had a return on equity of 22.30% and a net margin of 20.56%. As a group, sell-side analysts expect that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 10th. Investors of record on Monday, November 3rd were paid a $1.29 dividend. The ex-dividend date was Monday, November 3rd. This represents a $5.16 annualized dividend and a dividend yield of 3.3%. This is an increase from Blackstone’s previous quarterly dividend of $1.03. Blackstone’s dividend payout ratio (DPR) is presently 147.43%.

Insider Activity at Blackstone

In other news, major shareholder Holdings Iv Gp Mana Blackstone acquired 385,208 shares of the firm’s stock in a transaction on Friday, November 21st. The shares were bought at an average price of $25.96 per share, for a total transaction of $9,999,999.68. Following the acquisition, the insider owned 16,332,883 shares of the company’s stock, valued at approximately $424,001,642.68. This trade represents a 2.42% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of Blackstone stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $10.00, for a total value of $15,961,420.00. Following the transaction, the insider owned 2,161 shares in the company, valued at approximately $21,610. This represents a 99.86% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders acquired 797,148 shares of company stock valued at $24,050,153. 1.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

BX has been the subject of a number of analyst reports. JMP Securities restated a “market outperform” rating and set a $195.00 price objective on shares of Blackstone in a research report on Friday, October 24th. Jefferies Financial Group lowered their target price on shares of Blackstone from $199.00 to $187.00 in a report on Monday, November 10th. TD Cowen cut their target price on Blackstone from $208.00 to $205.00 and set a “buy” rating on the stock in a research note on Friday, October 24th. Evercore ISI lowered their price objective on shares of Blackstone from $197.00 to $180.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 22nd. Finally, Barclays dropped their price target on shares of Blackstone from $172.00 to $171.00 and set an “equal weight” rating on the stock in a research note on Friday. Ten equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $179.89.

About Blackstone

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.