Fjell Capital LLC Purchases New Shares in Blackstone Inc. (NYSE:BX)

Fjell Capital LLC bought a new stake in shares of Blackstone Inc. (NYSE:BX) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,900 shares of the asset manager’s stock, valued at approximately $1,190,000. Blackstone makes up approximately 1.2% of Fjell Capital LLC’s holdings, making the stock its 27th biggest holding.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bangor Savings Bank increased its position 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 position in Blackstone during the fourth quarter worth $28,000. Centricity Wealth Management LLC purchased a new stake in shares of Blackstone in the fourth quarter valued at $30,000. Berbice Capital Management LLC purchased a new position in shares of Blackstone during the 4th quarter worth about $34,000. Finally, Comprehensive Financial Planning Inc. PA bought a new position in Blackstone during the 4th quarter valued at about $34,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on BX shares. Piper Sandler upped their target price on Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a research note on Monday, December 23rd. Keefe, Bruyette & Woods increased their target price on Blackstone from $174.00 to $177.00 and gave the stock a “market perform” rating in a research note on Friday, January 31st. Barclays reissued an “equal weight” rating on shares of Blackstone in a research note on Friday, February 7th. BMO Capital Markets lifted their price objective on shares of Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a report on Thursday, December 19th. Finally, StockNews.com lowered shares of Blackstone from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Blackstone has a consensus rating of “Hold” and a consensus target price of $172.38.

Blackstone Trading Up 0.1 %

BX opened at $157.22 on Wednesday. Blackstone Inc. has a 12 month low of $115.82 and a 12 month high of $200.96. The stock has a fifty day moving average price of $172.44 and a 200-day moving average price of $166.12. The firm has a market cap of $113.51 billion, a price-to-earnings ratio of 43.31, a PEG ratio of 1.07 and a beta of 1.53. 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 (NYSE:BX) last released its quarterly earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share 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%. As a group, equities research analysts anticipate that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th were given 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 dividend yield of 3.66%. Blackstone’s dividend payout ratio (DPR) is presently 158.68%.

Insider Activity at Blackstone

In related news, Director Ruth Porat bought 301 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were bought at an average price of $164.85 per share, with a total value of $49,619.85. Following the transaction, the director now owns 36,829 shares in the company, valued at approximately $6,071,260.65. This trade represents a 0.82 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

Blackstone Company 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.