Blackstone Inc. (NYSE:BX) Position Increased by Hollencrest Capital Management

Hollencrest Capital Management increased its stake in Blackstone Inc. (NYSE:BX) by 4.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,563 shares of the asset manager’s stock after purchasing an additional 576 shares during the period. Hollencrest Capital Management’s holdings in Blackstone were worth $2,166,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Raymond James Financial Inc. acquired a new position in shares of Blackstone during the 4th quarter valued at $316,257,000. Proficio Capital Partners LLC grew its holdings in shares of Blackstone by 2,057.7% in the 4th quarter. Proficio Capital Partners LLC now owns 844,755 shares of the asset manager’s stock worth $145,653,000 after acquiring an additional 805,604 shares during the last quarter. Jennison Associates LLC grew its holdings in shares of Blackstone by 111.1% in the 4th quarter. Jennison Associates LLC now owns 973,348 shares of the asset manager’s stock worth $167,825,000 after acquiring an additional 512,165 shares during the last quarter. Amundi grew its holdings in shares of Blackstone by 51.0% in the 4th quarter. Amundi now owns 1,430,555 shares of the asset manager’s stock worth $248,723,000 after acquiring an additional 483,362 shares during the last quarter. Finally, Castleark Management LLC acquired a new position in shares of Blackstone in the 3rd quarter worth $67,472,000. Institutional investors own 70.00% of the company’s stock.

Insider Transactions at Blackstone

In other Blackstone news, Director Ruth Porat acquired 301 shares of Blackstone stock in a transaction dated Tuesday, February 18th. The stock was bought at an average cost of $164.85 per share, for a total transaction of $49,619.85. Following the purchase, the director now directly owns 36,829 shares in the company, valued at approximately $6,071,260.65. This represents a 0.82 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

BX has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their target price on Blackstone from $149.00 to $154.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Barclays reaffirmed an “equal weight” rating on shares of Blackstone in a research report on Friday, February 7th. Wells Fargo & Company reduced their price objective on Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. TD Cowen raised Blackstone from a “hold” rating to a “buy” rating and lifted their price objective for the company from $149.00 to $230.00 in a research report on Monday, December 9th. Finally, Citigroup reissued a “hold” rating on shares of Blackstone in a research report on Friday, February 7th. Thirteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $172.38.

Blackstone Price Performance

BX opened at $138.02 on Wednesday. The stock has a market cap of $100.67 billion, a P/E ratio of 38.02, a P/E/G ratio of 1.07 and a beta of 1.55. 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 Inc. has a 12 month low of $115.82 and a 12 month high of $200.96. The company has a fifty day simple moving average of $167.98 and a 200 day simple moving average of $167.25.

Blackstone (NYSE:BX) last announced its earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share for the quarter, topping 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 5.87 EPS for the current year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th were paid a dividend of $1.44 per share. This represents a $5.76 dividend on an annualized basis and a dividend yield of 4.17%. This is an increase from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date was Monday, February 10th. Blackstone’s dividend payout ratio is currently 158.68%.

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.