Integrated Investment Consultants LLC Takes Position in Blackstone Inc. (NYSE:BX)

Integrated Investment Consultants LLC acquired a new stake in Blackstone Inc. (NYSE:BXFree Report) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 1,839 shares of the asset manager’s stock, valued at approximately $241,000.

Several other hedge funds have also modified their holdings of the company. Mirador Capital Partners LP grew its position in shares of Blackstone by 2.2% in the third quarter. Mirador Capital Partners LP now owns 87,646 shares of the asset manager’s stock valued at $9,390,000 after purchasing an additional 1,862 shares during the period. WASHINGTON TRUST Co raised its holdings in shares of Blackstone by 7.0% during the third quarter. WASHINGTON TRUST Co now owns 121,358 shares of the asset manager’s stock valued at $13,002,000 after acquiring an additional 7,907 shares during the last quarter. Kampmann Melissa S. acquired a new stake in shares of Blackstone in the third quarter worth approximately $2,314,000. The Manufacturers Life Insurance Company raised its stake in Blackstone by 1,722.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 504,441 shares of the asset manager’s stock valued at $54,046,000 after purchasing an additional 476,768 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC boosted its stake in Blackstone by 536.5% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 13,181 shares of the asset manager’s stock worth $1,726,000 after purchasing an additional 11,110 shares during the last quarter. 70.00% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Blackstone

In related news, Director Ruth Porat bought 232 shares of Blackstone stock in a transaction that occurred on Monday, February 12th. The shares were purchased at an average price of $127.08 per share, with a total value of $29,482.56. Following the purchase, the director now owns 34,225 shares in the company, valued at $4,349,313. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Joseph Baratta sold 28,852 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $128.05, for a total transaction of $3,694,498.60. Following the transaction, the director now directly owns 982,221 shares in the company, valued at approximately $125,773,399.05. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Ruth Porat purchased 232 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were bought at an average cost of $127.08 per share, with a total value of $29,482.56. Following the transaction, the director now directly owns 34,225 shares of the company’s stock, valued at approximately $4,349,313. The disclosure for this purchase can be found here. In the last three months, insiders have sold 2,587,168 shares of company stock valued at $37,816,476. Insiders own 1.00% of the company’s stock.

Blackstone Stock Performance

Blackstone stock traded up $0.70 during midday trading on Wednesday, hitting $127.01. 257,408 shares of the company’s stock were exchanged, compared to its average volume of 3,728,426. Blackstone Inc. has a 12-month low of $79.29 and a 12-month high of $133.56. The stock has a market cap of $90.77 billion, a price-to-earnings ratio of 69.03, a price-to-earnings-growth ratio of 1.05 and a beta of 1.51. The firm’s 50 day simple moving average is $126.33 and its 200 day simple moving average is $116.41. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.80 and a current ratio of 0.80.

Blackstone (NYSE:BXGet Free Report) last issued its quarterly earnings results on Thursday, January 25th. The asset manager reported $1.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.16. Blackstone had a net margin of 17.34% and a return on equity of 17.30%. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $2.48 billion. During the same period in the previous year, the business posted $1.07 earnings per share. Equities research analysts predict that Blackstone Inc. will post 4.92 EPS for the current year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 12th. Stockholders of record on Monday, February 5th were given a $0.94 dividend. The ex-dividend date was Friday, February 2nd. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.96%. This is a boost from Blackstone’s previous quarterly dividend of $0.80. Blackstone’s dividend payout ratio (DPR) is currently 205.46%.

Analyst Upgrades and Downgrades

BX has been the topic of a number of recent research reports. Keefe, Bruyette & Woods boosted their price target on shares of Blackstone from $123.00 to $127.00 and gave the stock a “market perform” rating in a research report on Friday, January 26th. TD Cowen began coverage on Blackstone in a report on Thursday, January 4th. They issued a “market perform” rating and a $118.00 price target for the company. Bank of America raised their price target on shares of Blackstone from $146.00 to $147.00 and gave the stock a “buy” rating in a report on Monday, March 4th. TheStreet downgraded shares of Blackstone from a “b” rating to a “c+” rating in a report on Thursday, January 25th. Finally, UBS Group restated a “neutral” rating and set a $135.00 price target (down from $140.00) on shares of Blackstone in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $119.25.

Get Our Latest Research Report on Blackstone

Blackstone Company 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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