SBI Securities Co. Ltd. Takes Position in Blackstone Inc. (NYSE:BX)

SBI Securities Co. Ltd. bought a new position in Blackstone Inc. (NYSE:BX) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 4,905 shares of the asset manager’s stock, valued at approximately $846,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of BX. Glen Eagle Advisors LLC lifted its holdings in Blackstone by 1.8% in the third quarter. Glen Eagle Advisors LLC now owns 3,251 shares of the asset manager’s stock valued at $498,000 after acquiring an additional 59 shares during the period. Avidian Wealth Enterprises LLC lifted its stake in shares of Blackstone by 0.4% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 16,184 shares of the asset manager’s stock worth $2,790,000 after purchasing an additional 59 shares during the period. Investmark Advisory Group LLC grew its position in Blackstone by 2.4% during the third quarter. Investmark Advisory Group LLC now owns 2,608 shares of the asset manager’s stock valued at $399,000 after buying an additional 60 shares during the period. McIlrath & Eck LLC raised its position in Blackstone by 6.5% in the third quarter. McIlrath & Eck LLC now owns 1,019 shares of the asset manager’s stock worth $156,000 after acquiring an additional 62 shares during the period. Finally, McAdam LLC grew its position in shares of Blackstone by 3.9% during the 4th quarter. McAdam LLC now owns 1,687 shares of the asset manager’s stock valued at $291,000 after acquiring an additional 63 shares during the period. 70.00% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Ruth Porat bought 301 shares of the stock in a transaction dated Tuesday, February 18th. The stock was purchased at an average price of $164.85 per share, for a total transaction of $49,619.85. Following the acquisition, the director now owns 36,829 shares of the company’s stock, valued at $6,071,260.65. The trade was a 0.82 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on BX shares. BMO Capital Markets lifted their target price on Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a research report on Thursday, December 19th. Barclays reiterated an “equal weight” rating on shares of Blackstone in a research note on Friday, February 7th. 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. Citigroup restated a “hold” rating on shares of Blackstone in a research report on Friday, February 7th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Thirteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $172.38.

Blackstone Trading Down 1.7 %

BX stock opened at $158.36 on Tuesday. The firm has a market cap of $114.34 billion, a PE ratio of 43.63, a price-to-earnings-growth ratio of 1.07 and a beta of 1.53. The firm has a fifty day moving average price of $171.49 and a 200 day moving average price of $166.83. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67. Blackstone Inc. has a fifty-two week low of $115.82 and a fifty-two week high of $200.96.

Blackstone (NYSE:BX) last announced its earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.19. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. Sell-side analysts anticipate that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th were given a dividend of $1.44 per share. The ex-dividend date was Monday, February 10th. This represents a $5.76 annualized dividend and a dividend yield of 3.64%. This is an increase from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s payout ratio is currently 158.68%.

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.