3,133 Shares in Blackstone Inc. (NYSE:BX) Acquired by Diversified Enterprises LLC

Diversified Enterprises LLC acquired a new position in Blackstone Inc. (NYSE:BX) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 3,133 shares of the asset manager’s stock, valued at approximately $540,000.

Other hedge funds also recently added to or reduced their stakes in the company. Bangor Savings Bank raised its holdings in 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 acquiring an additional 105 shares during the last quarter. Hager Investment Management Services LLC bought a new stake in Blackstone in the 4th quarter worth approximately $28,000. Centricity Wealth Management LLC bought a new stake in Blackstone in the 4th quarter worth approximately $30,000. Berbice Capital Management LLC bought a new stake in Blackstone in the 4th quarter worth approximately $34,000. Finally, Comprehensive Financial Planning Inc. PA bought a new stake in Blackstone in the 4th quarter worth approximately $34,000. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Blackstone Stock Up 3.3 %

Shares of NYSE BX opened at $141.01 on Friday. The firm’s 50-day moving average price is $165.90 and its 200-day moving average price is $166.84. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $102.86 billion, a price-to-earnings ratio of 38.85, a P/E/G ratio of 1.07 and a beta of 1.55. Blackstone Inc. has a 12-month low of $115.82 and a 12-month high of $200.96.

Blackstone (NYSE:BX) last issued its quarterly 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, equities research analysts anticipate that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were paid a $1.44 dividend. This is an increase from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 dividend on an annualized basis and a yield of 4.08%. The ex-dividend date was Monday, February 10th. Blackstone’s dividend payout ratio is currently 158.68%.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BX. Wells Fargo & Company cut their price objective on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. UBS Group reissued a “neutral” rating on shares of Blackstone in a research report on Monday, March 3rd. Piper Sandler boosted their price objective on shares of Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a research report on Monday, December 23rd. BMO Capital Markets upped their target price on shares of Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a report on Thursday, December 19th. Finally, TD Cowen raised shares of Blackstone from a “hold” rating to a “buy” rating and upped their target price for the stock from $149.00 to $230.00 in a report on Monday, December 9th. Thirteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $172.38.

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.