Bleakley Financial Group LLC Purchases 1,022 Shares of Blackstone Inc. (NYSE:BX)

Bleakley Financial Group LLC raised its stake in shares of Blackstone Inc. (NYSE:BX) by 4.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,722 shares of the asset manager’s stock after acquiring an additional 1,022 shares during the quarter. Bleakley Financial Group LLC’s holdings in Blackstone were worth $4,262,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of BX. West Financial Advisors LLC purchased a new stake in shares of Blackstone during the 3rd quarter valued at $27,000. Bangor Savings Bank lifted its holdings in shares of Blackstone by 187.5% during the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 105 shares during the last quarter. Hager Investment Management Services LLC purchased a new stake in shares of Blackstone during the 4th quarter valued at $28,000. Berbice Capital Management LLC purchased a new stake in shares of Blackstone during the 4th quarter valued at $34,000. Finally, Raleigh Capital Management Inc. raised its stake in Blackstone by 32.1% in the 3rd 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. Institutional investors own 70.00% of the company’s stock.

Blackstone Trading Down 0.2 %

BX stock opened at $174.50 on Friday. The company has a current ratio of 0.67, a quick ratio of 0.71 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. The stock has a market cap of $125.99 billion, a price-to-earnings ratio of 48.07, a PEG ratio of 1.18 and a beta of 1.53. The business’s 50-day moving average is $179.07 and its 200 day moving average is $163.20.

Blackstone (NYSE:BX) last posted its quarterly earnings data 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 5.86 EPS for the current fiscal year.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th will be paid a $1.44 dividend. This represents a $5.76 dividend on an annualized basis and a yield of 3.30%. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date is Monday, February 10th. Blackstone’s dividend payout ratio (DPR) is 158.68%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Morgan Stanley raised their target price on Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. TD Cowen upgraded 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 note on Monday, December 9th. Piper Sandler raised their target price on Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a research note on Monday, December 23rd. Barclays cut their price target on Blackstone from $192.00 to $186.00 and set an “equal weight” rating on the stock in a research report on Friday, January 31st. Finally, Cowen reaffirmed a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. Thirteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $172.38.

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.