Coordinated Financial Services Inc. Takes $735,000 Position in Blackstone Inc. (NYSE:BX)

Coordinated Financial Services Inc. purchased a new stake in Blackstone Inc. (NYSE:BX) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 4,264 shares of the asset manager’s stock, valued at approximately $735,000.

Other hedge funds have also added to or reduced their stakes in the company. Glen Eagle Advisors LLC increased its position in Blackstone by 1.8% during the 3rd quarter. Glen Eagle Advisors LLC now owns 3,251 shares of the asset manager’s stock worth $498,000 after purchasing an additional 59 shares in the last quarter. Avidian Wealth Enterprises LLC grew its holdings in Blackstone by 0.4% during the 4th quarter. Avidian Wealth Enterprises LLC now owns 16,184 shares of the asset manager’s stock worth $2,790,000 after acquiring an additional 59 shares during the last quarter. Investmark Advisory Group LLC grew its holdings in Blackstone by 2.4% during the 3rd quarter. Investmark Advisory Group LLC now owns 2,608 shares of the asset manager’s stock worth $399,000 after acquiring an additional 60 shares during the last quarter. McIlrath & Eck LLC grew its holdings in Blackstone by 6.5% during the 3rd quarter. McIlrath & Eck LLC now owns 1,019 shares of the asset manager’s stock worth $156,000 after acquiring an additional 62 shares during the last quarter. Finally, McAdam LLC grew its holdings in Blackstone by 3.9% during the 4th quarter. McAdam LLC now owns 1,687 shares of the asset manager’s stock worth $291,000 after acquiring an additional 63 shares during the last quarter. Institutional investors own 70.00% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on BX. Citigroup reissued a “hold” rating on shares of Blackstone in a report on Friday, February 7th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Barclays reaffirmed an “equal weight” rating on shares of Blackstone in a research note on Friday, February 7th. UBS Group reaffirmed a “neutral” rating on shares of Blackstone in a research note on Monday, March 3rd. Finally, JPMorgan Chase & Co. upped their price objective on shares of Blackstone from $149.00 to $154.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. 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, Blackstone presently has an average rating of “Hold” and a consensus target price of $172.38.

Insider Activity at Blackstone

In related news, Director Ruth Porat acquired 301 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were acquired at an average price of $164.85 per share, with a total value of $49,619.85. Following the acquisition, the director now owns 36,829 shares of the company’s stock, valued at approximately $6,071,260.65. This trade represents a 0.82 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.00% of the stock is owned by company insiders.

Blackstone Stock Performance

BX opened at $145.12 on Friday. The company’s fifty day moving average price is $169.33 and its two-hundred day moving average price is $167.00. The company has a market cap of $105.86 billion, a price-to-earnings ratio of 39.98, a PEG ratio of 1.07 and a beta of 1.55. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. Blackstone Inc. has a 1-year low of $115.82 and a 1-year high of $200.96.

Blackstone (NYSE:BX) last announced its earnings results on Thursday, January 30th. The asset manager reported $1.69 EPS 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%. On average, analysts expect that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 10th were given a dividend of $1.44 per share. The ex-dividend date was Monday, February 10th. This represents a $5.76 annualized dividend and a yield of 3.97%. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s dividend payout ratio is presently 158.68%.

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.