Catalyst Funds Management Pty Ltd Takes $345,000 Position in Blackstone Inc. (NYSE:BX)

Catalyst Funds Management Pty Ltd purchased a new position in shares of Blackstone Inc. (NYSE:BXFree Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 2,000 shares of the asset manager’s stock, valued at approximately $345,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bangor Savings Bank raised its holdings in 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 buying an additional 105 shares during the last quarter. Hager Investment Management Services LLC purchased a new stake in shares of Blackstone during the fourth quarter worth about $28,000. Centricity Wealth Management LLC purchased a new position in Blackstone during the 4th quarter valued at about $30,000. Berbice Capital Management LLC purchased a new stake in Blackstone in the 4th quarter worth approximately $34,000. Finally, Comprehensive Financial Planning Inc. PA bought a new stake in shares of Blackstone in the 4th quarter worth approximately $34,000. Institutional investors own 70.00% of the company’s stock.

Insider Activity

In related news, Director Ruth Porat purchased 301 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were bought 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 approximately $6,071,260.65. This represents a 0.82 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. 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. TD Cowen raised shares of Blackstone from a “hold” rating to a “buy” rating and increased their price target for the stock from $149.00 to $230.00 in a research note on Monday, December 9th. Barclays reaffirmed an “equal weight” rating on shares of Blackstone in a research report on Friday, February 7th. Wells Fargo & Company dropped their price target on Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. Finally, StockNews.com lowered Blackstone from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Thirteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Blackstone presently has a consensus rating of “Hold” and a consensus price target of $172.38.

Check Out Our Latest Research Report on BX

Blackstone Price Performance

Shares of NYSE:BX opened at $141.01 on Friday. The firm has a market cap of $102.86 billion, a price-to-earnings ratio of 38.85, a P/E/G 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 quick ratio of 0.71 and a current ratio of 0.67. The firm has a fifty day moving average price of $165.90 and a 200 day moving average price of $167.02.

Blackstone (NYSE:BXGet Free Report) last posted its earnings results on Thursday, January 30th. The asset manager reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.19. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. 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 firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were paid a $1.44 dividend. This is a boost from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date was Monday, February 10th. Blackstone’s dividend payout ratio (DPR) is presently 158.68%.

Blackstone Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Blackstone (NYSE:BX)

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