Blackstone Inc. (NYSE:BX) Shares Purchased by Howard Capital Management Inc.

Howard Capital Management Inc. raised its position in shares of Blackstone Inc. (NYSE:BX) by 6.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,637 shares of the asset manager’s stock after buying an additional 265 shares during the period. Howard Capital Management Inc.’s holdings in Blackstone were worth $800,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of BX. Assenagon Asset Management S.A. grew its holdings in shares of Blackstone by 8.8% in the third quarter. Assenagon Asset Management S.A. now owns 17,555 shares of the asset manager’s stock valued at $2,688,000 after purchasing an additional 1,425 shares in the last quarter. NorthCrest Asset Manangement LLC grew its stake in shares of Blackstone by 13.4% in the third quarter. NorthCrest Asset Manangement LLC now owns 23,092 shares of the asset manager’s stock worth $3,536,000 after acquiring an additional 2,729 shares in the last quarter. TCV Trust & Wealth Management Inc. purchased a new stake in shares of Blackstone during the third quarter worth $230,000. Frank Rimerman Advisors LLC boosted its holdings in Blackstone by 1.4% in the third quarter. Frank Rimerman Advisors LLC now owns 14,178 shares of the asset manager’s stock valued at $2,171,000 after purchasing an additional 189 shares during the period. Finally, Capital Advisors Ltd. LLC increased its holdings in Blackstone by 2.3% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 2,787 shares of the asset manager’s stock worth $427,000 after purchasing an additional 62 shares during the period. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Trading Down 3.5 %

Shares of Blackstone stock opened at $158.21 on Monday. The company’s fifty day moving average is $173.58 and its two-hundred day moving average is $165.74. 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 quick ratio of 0.71 and a current ratio of 0.67. The company has a market capitalization of $114.23 billion, a P/E ratio of 43.58, a PEG ratio of 1.07 and a beta of 1.53.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 earnings per share 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%. Analysts forecast that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th were paid a $1.44 dividend. This represents a $5.76 annualized dividend and a dividend yield of 3.64%. The ex-dividend date of this dividend was Monday, February 10th. This is a boost from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s dividend payout ratio (DPR) is 158.68%.

Insider Activity

In other Blackstone news, Director Ruth Porat acquired 301 shares of the stock in a transaction 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 owns 36,829 shares of the company’s stock, valued at $6,071,260.65. This trade represents a 0.82 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

BX has been the subject of a number of analyst reports. Barclays reissued an “equal weight” rating on shares of Blackstone in a research report on Friday, February 7th. Piper Sandler boosted their price target on shares of Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a report on Monday, December 23rd. TD Cowen raised shares of Blackstone from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $149.00 to $230.00 in a research report on Monday, December 9th. Deutsche Bank Aktiengesellschaft raised their price target on Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, UBS Group upped their price objective on Blackstone from $170.00 to $180.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from 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.