Rheos Capital Works Inc. Grows Stock Holdings in Blackstone Inc. (NYSE:BX)

Rheos Capital Works Inc. grew its holdings in shares of Blackstone Inc. (NYSE:BX) by 2.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 106,000 shares of the asset manager’s stock after buying an additional 3,000 shares during the quarter. Rheos Capital Works Inc.’s holdings in Blackstone were worth $18,277,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in BX. Bangor Savings Bank raised its holdings in Blackstone by 187.5% during the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after buying an additional 105 shares during the period. West Financial Advisors LLC purchased a new stake in shares of Blackstone in the third quarter valued at $27,000. Berbice Capital Management LLC purchased a new position in shares of Blackstone during the 4th quarter worth about $34,000. Kieckhefer Group LLC purchased a new stake in Blackstone in the 4th quarter worth about $39,000. Finally, Raleigh Capital Management Inc. boosted its position in shares of Blackstone by 32.1% during the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock valued at $39,000 after buying an additional 62 shares during the period. 70.00% of the stock is owned by institutional investors.

Blackstone Stock Down 0.5 %

Shares of BX stock opened at $176.92 on Monday. 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 company has a market cap of $127.74 billion, a price-to-earnings ratio of 48.74, a price-to-earnings-growth ratio of 1.18 and a beta of 1.53. The stock’s fifty day moving average price is $180.15 and its 200 day moving average price is $162.63. Blackstone Inc. has a 1-year low of $115.82 and a 1-year high of $200.96.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.19. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. On average, research analysts expect that Blackstone Inc. will post 5.86 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Monday, February 10th will be issued a $1.44 dividend. This represents a $5.76 annualized dividend and a yield of 3.26%. The ex-dividend date is Monday, February 10th. This is an increase from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s dividend payout ratio is 94.77%.

Insider Activity

In related news, insider John G. Finley sold 42,249 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the sale, the insider now directly owns 387,137 shares of the company’s stock, valued at $68,112,883.78. This trade represents a 9.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on BX. JPMorgan Chase & Co. raised their price target on Blackstone from $149.00 to $154.00 and gave the stock a “neutral” rating in a research note on Friday. The Goldman Sachs Group raised their price target on shares of Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Morgan Stanley upped their target price on shares of Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. StockNews.com lowered Blackstone from a “buy” rating to a “hold” rating in a report on Friday. Finally, Piper Sandler lifted their target price on Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a research report on Monday, December 23rd. Thirteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $171.13.

Blackstone 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.