one8zero8 LLC Buys New Stake in Blackstone Inc. (NYSE:BX)

one8zero8 LLC purchased a new position in shares of Blackstone Inc. (NYSE:BX) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 70,275 shares of the asset manager’s stock, valued at approximately $12,117,000. Blackstone accounts for about 2.6% of one8zero8 LLC’s holdings, making the stock its 8th largest position.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bangor Savings Bank increased its stake in Blackstone by 187.5% during the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock worth $28,000 after buying an additional 105 shares during the period. Hager Investment Management Services LLC bought a new stake in shares of Blackstone in the 4th quarter worth about $28,000. Centricity Wealth Management LLC bought a new stake in shares of Blackstone in the 4th quarter worth about $30,000. Roxbury Financial LLC bought a new stake in shares of Blackstone during the 4th quarter valued at about $34,000. Finally, Berbice Capital Management LLC bought a new stake in shares of Blackstone during the 4th quarter valued at about $34,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Stock Up 3.3 %

BX stock opened at $141.01 on Friday. Blackstone Inc. has a 52-week low of $115.82 and a 52-week high of $200.96. The company’s 50 day simple moving average is $165.90 and its 200-day simple moving average is $167.02. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71. The firm has a market capitalization of $102.86 billion, a P/E ratio of 38.85, a P/E/G ratio of 1.07 and a beta of 1.55.

Blackstone (NYSE:BX) last released its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.19. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. As a group, equities research analysts anticipate that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were given a $1.44 dividend. This represents a $5.76 annualized dividend and a yield of 4.08%. This is an increase from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Monday, February 10th. Blackstone’s payout ratio is currently 158.68%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Blackstone from $149.00 to $154.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Citigroup reissued a “hold” rating on shares of Blackstone in a research note on Friday, February 7th. Piper Sandler boosted their target price 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. Wells Fargo & Company reduced their target price on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. Finally, Barclays reissued an “equal weight” rating on shares of Blackstone in a research note on Friday, February 7th. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Blackstone has an average rating of “Hold” and a consensus target price of $172.38.

Insiders Place Their Bets

In other news, Director Ruth Porat acquired 301 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was acquired at an average cost of $164.85 per share, with a total value of $49,619.85. Following the acquisition, the director now owns 36,829 shares in the company, valued at approximately $6,071,260.65. This represents a 0.82 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.00% of the company’s stock.

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.