Harbour Investments Inc. Buys 1,094 Shares of Blackstone Inc. (NYSE:BX)

Harbour Investments Inc. boosted its stake in Blackstone Inc. (NYSE:BX) by 15.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,309 shares of the asset manager’s stock after purchasing an additional 1,094 shares during the quarter. Harbour Investments Inc.’s holdings in Blackstone were worth $1,433,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in BX. Bangor Savings Bank grew its stake in Blackstone by 187.5% in the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 105 shares during the period. Hager Investment Management Services LLC acquired a new position in Blackstone in the fourth quarter valued at about $28,000. Centricity Wealth Management LLC acquired a new position in Blackstone during the fourth quarter valued at approximately $30,000. Roxbury Financial LLC acquired a new position in Blackstone during the fourth quarter valued at approximately $34,000. Finally, Berbice Capital Management LLC acquired a new position in Blackstone during the fourth quarter valued at approximately $34,000. Institutional investors own 70.00% of the company’s stock.

Blackstone Price Performance

Blackstone stock opened at $146.11 on Wednesday. The stock’s fifty day moving average price is $164.85 and its two-hundred day moving average price is $167.29. Blackstone Inc. has a one year low of $115.82 and a one year high of $200.96. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71. The firm has a market cap of $106.58 billion, a PE ratio of 40.25, a price-to-earnings-growth ratio of 1.07 and a beta of 1.55.

Blackstone (NYSE:BX) last posted its quarterly earnings data 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, research analysts expect that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were issued a $1.44 dividend. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date was Monday, February 10th. This is an increase from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s dividend payout ratio (DPR) is currently 158.68%.

Insider Buying and Selling at Blackstone

In other news, Director Ruth Porat acquired 301 shares of the business’s stock in a transaction that occurred 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 acquisition, the director now directly owns 36,829 shares in the company, valued at $6,071,260.65. The trade was a 0.82 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

BX has been the topic of several research analyst reports. Wells Fargo & Company dropped their price objective on Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. Keefe, Bruyette & Woods upped their price objective on Blackstone from $174.00 to $177.00 and gave the company a “market perform” rating in a research note on Friday, January 31st. Citigroup restated a “hold” rating on shares of Blackstone in a research note on Friday, February 7th. JPMorgan Chase & Co. upped their price objective on Blackstone from $149.00 to $154.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Finally, StockNews.com lowered Blackstone from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Twelve analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Blackstone presently has an average rating of “Hold” and an average target price of $172.38.

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.