F M Investments LLC Buys 18,376 Shares of Blackstone Inc. (NYSE:BX)
F M Investments LLC increased its stake in Blackstone Inc. (NYSE:BX) by 53.1% in Q4, acquiring 18,376 shares, bringing its total to 52,973 shares valued at $9.13 million. Other institutional investors also raised their positions. Blackstone's stock opened at $137.94, with a market cap of $100.62 billion. The company recently declared a quarterly dividend of $1.44 per share, up from $0.86, with a yield of 4.18%. Analysts have set new price targets, with ratings ranging from "buy" to "neutral."
F M Investments LLC lifted its stake in Blackstone Inc. (NYSE:BX - Free Report) by 53.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,973 shares of the asset manager's stock after purchasing an additional 18,376 shares during the quarter. F M Investments LLC's holdings in Blackstone were worth $9,134,000 as of its most recent filing with the Securities & Exchange Commission.
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Several other institutional investors also recently bought and sold shares of the company. Bangor Savings Bank raised its position 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 buying an additional 105 shares during the last quarter. Hager Investment Management Services LLC purchased a new stake in Blackstone during the 4th quarter valued at $28,000. Centricity Wealth Management LLC purchased a new position in shares of Blackstone in the 4th quarter worth $30,000. Murphy & Mullick Capital Management Corp purchased a new stake in Blackstone in the 4th quarter worth approximately $33,000. Finally, Berbice Capital Management LLC purchased a new position in shares of Blackstone during the fourth quarter valued at about $34,000. 70.00% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, Director Ruth Porat bought 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 completion of the transaction, the director now owns 36,829 shares of the company's stock, valued at $6,071,260.65. The trade was a 0.82 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.00% of the stock is currently owned by company insiders.
Blackstone Stock Up 14.9 %
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Shares of NYSE:BX opened at $137.94 on Thursday. The business has a 50-day moving average price of $150.91 and a 200 day moving average price of $166.02. The company has a market capitalization of $100.62 billion, a price-to-earnings ratio of 38.00, a PEG ratio of 1.07 and a beta of 1.61. 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 12-month low of $115.66 and a 12-month high of $200.96.
Blackstone (NYSE:BX - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The asset manager reported $1.69 EPS for the quarter, topping the consensus estimate of $1.50 by $0.19. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. Sell-side analysts expect that Blackstone Inc. will post 5.87 EPS for the current year.
Blackstone Increases Dividend
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The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders 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 dividend on an annualized basis and a dividend yield of 4.18%. This is an increase from Blackstone's previous quarterly dividend of $0.86. Blackstone's dividend payout ratio (DPR) is presently 158.68%.
Analysts Set New Price Targets
A number of equities analysts have recently issued reports on BX shares. Piper Sandler dropped their price target on Blackstone from $182.00 to $140.00 and set a "neutral" rating on the stock in a research report on Tuesday. Wells Fargo & Company lowered their target price on shares of Blackstone from $160.00 to $139.00 and set an "equal weight" rating for the company in a research note on Tuesday. Barclays reduced their target price on shares of Blackstone from $186.00 to $129.00 and set an "equal weight" rating for the company in a report on Monday. UBS Group raised shares of Blackstone from a "neutral" rating to a "buy" rating and set a $180.00 target price for the company in a report on Monday, March 17th. Finally, JMP Securities upgraded Blackstone from a "market perform" rating to a "market outperform" rating and set a $165.00 price objective for the company in a research report on Tuesday. Eleven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Blackstone has an average rating of "Hold" and a consensus price target of $157.22.
Read Our Latest Research Report on BX
Blackstone Profile
(Free Report)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.
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