Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Raises Stock Holdings in Blackstone Inc. $BX

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its position in Blackstone Inc. (NYSE:BX) by 1,118.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,657 shares of the asset manager’s stock after acquiring an additional 11,618 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Blackstone were worth $2,162,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Brighton Jones LLC increased its holdings in Blackstone by 34.6% during the 4th quarter. Brighton Jones LLC now owns 7,917 shares of the asset manager’s stock worth $1,365,000 after purchasing an additional 2,035 shares during the last quarter. Geneos Wealth Management Inc. boosted its position in Blackstone by 6.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 5,277 shares of the asset manager’s stock worth $738,000 after acquiring an additional 334 shares during the period. Voya Investment Management LLC lifted its position in Blackstone by 3.1% in the first quarter. Voya Investment Management LLC now owns 178,844 shares of the asset manager’s stock worth $24,999,000 after purchasing an additional 5,346 shares during the period. Swedbank AB acquired a new position in shares of Blackstone in the 1st quarter worth approximately $17,713,000. Finally, Kera Capital Partners Inc. acquired a new position in shares of Blackstone in the 2nd quarter worth $273,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Stock Performance

Shares of Blackstone stock opened at $157.76 on Monday. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.60. The company has a market cap of $116.50 billion, a PE ratio of 45.07, a price-to-earnings-growth ratio of 1.11 and a beta of 1.75. The business has a 50 day moving average price of $149.54 and a 200-day moving average price of $161.10. Blackstone Inc. has a 52 week low of $115.66 and a 52 week high of $190.09.

Blackstone (NYSE:BX) last issued its earnings results on Friday, November 22nd. The asset manager reported $0.97 earnings per share for the quarter. The firm had revenue of $2.49 billion during the quarter. Blackstone had a net margin of 20.56% and a return on equity of 22.30%. Equities analysts anticipate that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 10th. Investors of record on Monday, November 3rd were paid a $1.29 dividend. The ex-dividend date of this dividend was Monday, November 3rd. This is an increase from Blackstone’s previous quarterly dividend of $1.03. This represents a $5.16 dividend on an annualized basis and a yield of 3.3%. Blackstone’s payout ratio is currently 147.43%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BX. Bank of America lowered their price target on shares of Blackstone from $199.00 to $189.00 in a report on Wednesday, December 10th. UBS Group reiterated a “neutral” rating on shares of Blackstone in a research report on Wednesday, December 24th. JMP Securities reissued a “market outperform” rating and issued a $195.00 price target on shares of Blackstone in a research note on Friday, October 24th. BMO Capital Markets decreased their price objective on Blackstone from $190.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, October 27th. Finally, Jefferies Financial Group lowered their price target on shares of Blackstone from $199.00 to $187.00 in a research note on Monday, November 10th. Ten equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, Blackstone presently has an average rating of “Moderate Buy” and a consensus price target of $179.89.

Insider Buying and Selling at Blackstone

In related news, Director Ruth Porat acquired 324 shares of the stock in a transaction on Monday, November 10th. The stock was acquired at an average price of $146.92 per share, for a total transaction of $47,602.08. Following the completion of the purchase, the director owned 39,077 shares of the company’s stock, valued at $5,741,192.84. This represents a 0.84% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of the business’s stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $10.00, for a total transaction of $15,961,420.00. Following the sale, the insider owned 2,161 shares of the company’s stock, valued at approximately $21,610. This represents a 99.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders bought 797,148 shares of company stock valued at $24,050,153 over the last 90 days. 1.00% of the stock is owned by corporate insiders.

Blackstone Company Profile

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.