Cable Hill Partners LLC Invests $202,000 in Blackstone Inc. (NYSE:BX)

Cable Hill Partners LLC purchased a new position in shares of Blackstone Inc. (NYSE:BX) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,173 shares of the asset manager’s stock, valued at approximately $202,000.

Several other hedge funds also recently made changes to their positions in BX. Bangor Savings Bank grew its stake in shares of Blackstone by 187.5% in the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after buying an additional 105 shares in the last quarter. Hager Investment Management Services LLC bought a new position in shares of Blackstone in the fourth quarter valued at $28,000. Centricity Wealth Management LLC bought a new position in shares of Blackstone in the fourth quarter valued at $30,000. Roxbury Financial LLC bought a new position in shares of Blackstone in the fourth quarter valued at $34,000. Finally, Berbice Capital Management LLC bought a new position in shares of Blackstone in the fourth quarter valued at $34,000. 70.00% of the stock is owned by institutional investors.

Insider Buying and Selling at Blackstone

In other Blackstone news, Director Ruth Porat bought 301 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were purchased at an average price of $164.85 per share, for a total transaction of $49,619.85. Following the completion of the transaction, the director now directly 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 transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 1.00% of the company’s stock.

Blackstone Stock Down 1.2 %

BX stock opened at $157.52 on Friday. The company has a market cap of $113.73 billion, a PE ratio of 43.39, a price-to-earnings-growth ratio of 1.07 and a beta of 1.53. The business has a 50-day simple moving average of $171.97 and a 200 day simple moving average of $166.01. Blackstone Inc. has a 52 week low of $115.82 and a 52 week high of $200.96. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61.

Blackstone (NYSE:BX) last posted its quarterly 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%. Sell-side analysts anticipate that Blackstone Inc. will post 5.87 EPS for the current fiscal 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 dividend on an annualized basis and a yield of 3.66%. 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 payout ratio is currently 158.68%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods raised their target price on shares of Blackstone from $174.00 to $177.00 and gave the company a “market perform” rating in a research note on Friday, January 31st. UBS Group lifted their price objective on shares of Blackstone from $170.00 to $180.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Piper Sandler lifted their price objective on shares of Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a research 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. Finally, BMO Capital Markets lifted their price objective on shares of Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a research report on Thursday, December 19th. Thirteen research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target 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.