Fidelis Capital Partners LLC Acquires 1,571 Shares of Blackstone Inc. (NYSE:BX)

Fidelis Capital Partners LLC raised its stake in shares of Blackstone Inc. (NYSE:BX) by 66.2% in the 4th quarter, HoldingsChannel reports. The firm owned 3,945 shares of the asset manager’s stock after purchasing an additional 1,571 shares during the period. Fidelis Capital Partners LLC’s holdings in Blackstone were worth $685,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in BX. DJE Kapital AG purchased a new stake in Blackstone during the fourth quarter valued at about $28,339,000. SBI Securities Co. Ltd. bought a new stake in Blackstone in the 4th quarter worth approximately $846,000. Jones Financial Companies Lllp raised its stake in shares of Blackstone by 29.2% during the fourth quarter. Jones Financial Companies Lllp now owns 81,358 shares of the asset manager’s stock worth $14,028,000 after acquiring an additional 18,404 shares in the last quarter. Modera Wealth Management LLC boosted its stake in shares of Blackstone by 3.3% in the 4th quarter. Modera Wealth Management LLC now owns 16,545 shares of the asset manager’s stock valued at $2,853,000 after purchasing an additional 529 shares in the last quarter. Finally, SRS Capital Advisors Inc. raised its position in Blackstone by 13.3% in the 4th quarter. SRS Capital Advisors Inc. now owns 8,504 shares of the asset manager’s stock worth $1,466,000 after purchasing an additional 1,001 shares during the period. Institutional investors own 70.00% of the company’s stock.

Insider Activity at Blackstone

In related news, Director Ruth Porat purchased 301 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were purchased at an average price of $164.85 per share, with a total value of $49,619.85. Following the acquisition, the director now directly owns 36,829 shares in the company, valued at $6,071,260.65. The trade was a 0.82 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.00% of the stock is owned by insiders.

Blackstone Price Performance

Shares of BX opened at $158.36 on Tuesday. The firm’s 50-day simple moving average is $171.49 and its two-hundred day simple moving average is $166.83. Blackstone Inc. has a fifty-two week low of $115.82 and a fifty-two week high of $200.96. The stock has a market cap of $114.34 billion, a PE ratio of 43.63, a price-to-earnings-growth ratio of 1.07 and a beta of 1.53. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67.

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

Blackstone Increases Dividend

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

Wall Street Analyst Weigh In

Several research analysts have recently commented on BX shares. UBS Group reiterated a “neutral” rating on shares of Blackstone in a report on Monday. Keefe, Bruyette & Woods boosted their price objective on Blackstone from $174.00 to $177.00 and gave the company a “market perform” rating in a research report on Friday, January 31st. 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 report on Monday, December 23rd. Citigroup reissued a “hold” rating on shares of Blackstone in a report on Friday, February 7th. Finally, Barclays reiterated an “equal weight” rating on shares of Blackstone in a report on Friday, February 7th. Thirteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $172.38.

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.