Blackstone Inc. (NYSE:BX) Shares Purchased by Fortem Financial Group LLC

Fortem Financial Group LLC lifted its position in shares of Blackstone Inc. (NYSE:BX) by 2.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,049 shares of the asset manager’s stock after buying an additional 264 shares during the quarter. Fortem Financial Group LLC’s holdings in Blackstone were worth $1,905,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Sather Financial Group Inc increased its position in Blackstone by 202.5% during the 3rd quarter. Sather Financial Group Inc now owns 6,050 shares of the asset manager’s stock worth $926,000 after purchasing an additional 4,050 shares in the last quarter. Portside Wealth Group LLC purchased a new stake in Blackstone in the 3rd quarter worth approximately $201,000. Aljian Capital Management LLC purchased a new stake in shares of Blackstone in the third quarter valued at $1,951,000. Icon Wealth Advisors LLC lifted its position in Blackstone by 2,185.4% during the third quarter. Icon Wealth Advisors LLC now owns 18,946 shares of the asset manager’s stock worth $2,901,000 after buying an additional 18,117 shares during the period. Finally, PNC Financial Services Group Inc. grew its holdings in Blackstone by 3.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,169,526 shares of the asset manager’s stock valued at $179,089,000 after buying an additional 36,343 shares during the period. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BX has been the subject of a number of recent analyst reports. Bank of America boosted their target price on shares of Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a report on Friday, October 18th. BMO Capital Markets increased their target price on Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a research report on Thursday, December 19th. Evercore ISI upped their price target on Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. UBS Group lifted their price objective on Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a report on Monday, November 11th. Fourteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $171.00.

Insider Buying and Selling

In other Blackstone news, insider John G. Finley sold 42,249 shares of Blackstone stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the sale, the insider now owns 387,137 shares of the company’s stock, valued at $68,112,883.78. The trade was a 9.84 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Blackstone Stock Performance

Shares of NYSE:BX traded down $1.01 on Monday, reaching $174.90. 1,432,316 shares of the company’s stock were exchanged, compared to its average volume of 1,776,732. Blackstone Inc. has a fifty-two week low of $114.88 and a fifty-two week high of $200.96. The business’s 50-day moving average is $180.49 and its two-hundred day moving average is $155.31. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $126.28 billion, a price-to-earnings ratio of 60.10, a PEG ratio of 1.63 and a beta of 1.53.

Blackstone (NYSE:BX) last issued its earnings results on Thursday, October 17th. The asset manager reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.10. The company had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.37 billion. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. As a group, equities research analysts forecast that Blackstone Inc. will post 4.43 EPS for the current year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Monday, October 28th were given a dividend of $0.86 per share. The ex-dividend date was Monday, October 28th. This represents a $3.44 annualized dividend and a dividend yield of 1.97%. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s dividend payout ratio is currently 118.21%.

Blackstone 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.