LVM Capital Management Ltd. MI Makes New $249,000 Investment in Blackstone Inc. (NYSE:BX)

LVM Capital Management Ltd. MI acquired a new stake in shares of Blackstone Inc. (NYSE:BX) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,443 shares of the asset manager’s stock, valued at approximately $249,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. West Financial Advisors LLC acquired a new position in Blackstone during the third quarter worth about $27,000. Bangor Savings Bank grew its stake in shares of Blackstone by 187.5% in the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock worth $28,000 after purchasing an additional 105 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in Blackstone during the second quarter valued at approximately $39,000. Raleigh Capital Management Inc. grew its position in Blackstone by 32.1% in the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after buying an additional 62 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. lifted its position in shares of Blackstone by 57.7% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 276 shares of the asset manager’s stock valued at $43,000 after acquiring an additional 101 shares during the last quarter. Institutional investors own 70.00% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on BX shares. Morgan Stanley upped their target price on Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Piper Sandler raised their target price on shares of Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a report on Monday, December 23rd. StockNews.com upgraded shares of Blackstone from a “hold” rating to a “buy” rating in a research report on Thursday. UBS Group boosted their target price on shares of Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Finally, Evercore ISI lifted their price target on Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Thirteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Blackstone has an average rating of “Hold” and a consensus target price of $171.00.

Blackstone Stock Down 5.2 %

BX stock opened at $165.00 on Friday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The firm has a market cap of $119.13 billion, a PE ratio of 56.70, a PEG ratio of 1.63 and a beta of 1.53. Blackstone Inc. has a 1 year low of $114.88 and a 1 year high of $200.96. The company has a fifty day simple moving average of $180.73 and a 200 day simple moving average of $156.52.

Blackstone (NYSE:BX) last issued its quarterly earnings data 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 business had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.37 billion. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. Sell-side analysts anticipate that Blackstone Inc. will post 4.43 EPS for the current fiscal year.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Monday, October 28th were issued a $0.86 dividend. This represents a $3.44 annualized dividend and a yield of 2.08%. The ex-dividend date was Monday, October 28th. This is an increase from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s dividend payout ratio (DPR) is 118.21%.

Insider Activity

In related news, insider John G. Finley sold 42,249 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the transaction, the insider now owns 387,137 shares of the company’s stock, valued at approximately $68,112,883.78. The trade was a 9.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.00% of the stock is currently owned by company insiders.

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.