717 Shares in Blackstone Inc. (NYSE:BX) Bought by Robotti Robert

Robotti Robert acquired a new position in shares of Blackstone Inc. (NYSE:BX) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 717 shares of the asset manager’s stock, valued at approximately $124,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Intech Investment Management LLC purchased a new stake in shares of Blackstone during the 3rd quarter valued at $631,000. Dynamic Technology Lab Private Ltd increased its holdings in Blackstone by 260.0% during the third quarter. Dynamic Technology Lab Private Ltd now owns 8,305 shares of the asset manager’s stock worth $1,272,000 after buying an additional 5,998 shares during the last quarter. Loomis Sayles & Co. L P boosted its stake in Blackstone by 8.8% in the third quarter. Loomis Sayles & Co. L P now owns 948 shares of the asset manager’s stock valued at $145,000 after acquiring an additional 77 shares during the last quarter. FMR LLC increased its stake in shares of Blackstone by 6.1% during the 3rd quarter. FMR LLC now owns 2,155,068 shares of the asset manager’s stock worth $330,006,000 after purchasing an additional 124,462 shares during the last quarter. Finally, Brooklyn Investment Group purchased a new position in Blackstone in the third quarter valued at approximately $271,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on BX shares. Wells Fargo & Company lowered their target price on Blackstone from $180.00 to $160.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 20th. UBS Group upgraded shares of Blackstone from a “neutral” rating to a “buy” rating and set a $180.00 target price for the company in a research report on Monday, March 17th. Piper Sandler upped their price target on shares of Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a research note on Monday, December 23rd. JPMorgan Chase & Co. lifted their price objective on shares of Blackstone from $149.00 to $154.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Finally, Keefe, Bruyette & Woods raised their price target on Blackstone from $174.00 to $177.00 and gave the stock a “market perform” rating in a report on Friday, January 31st. Twelve analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $171.13.

Insider Activity

In related news, Director Ruth Porat bought 301 shares of the stock in a transaction dated Tuesday, February 18th. The stock was bought at an average price of $164.85 per share, with a total value of $49,619.85. Following the purchase, the director now owns 36,829 shares in the company, valued at approximately $6,071,260.65. The trade was a 0.82 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 1.00% of the stock is owned by corporate insiders.

Blackstone Trading Down 2.9 %

Shares of Blackstone stock opened at $146.76 on Thursday. The company has a 50 day simple moving average of $162.33 and a two-hundred day simple moving average of $167.54. The firm has a market cap of $107.05 billion, a PE ratio of 40.43, a PEG ratio of 1.07 and a beta of 1.55. Blackstone Inc. has a 1 year low of $115.82 and a 1 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.

Blackstone (NYSE:BX) last released its earnings results on Thursday, January 30th. The asset manager reported $1.69 EPS for the quarter, beating 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%. Analysts expect that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were given a dividend of $1.44 per share. 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 yield of 3.92%. The ex-dividend date was Monday, February 10th. Blackstone’s dividend payout ratio (DPR) is presently 158.68%.

About Blackstone

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.