Lbp Am Sa Makes New Investment in Blackstone Inc. (NYSE:BX)

Lbp Am Sa purchased a new position in shares of Blackstone Inc. (NYSE:BX) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 12,708 shares of the asset manager’s stock, valued at approximately $2,191,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Sather Financial Group Inc lifted its stake in Blackstone by 202.5% during the third quarter. Sather Financial Group Inc now owns 6,050 shares of the asset manager’s stock worth $926,000 after purchasing an additional 4,050 shares during the last quarter. Aljian Capital Management LLC bought a new stake in shares of Blackstone in the 3rd quarter valued at about $1,951,000. Icon Wealth Advisors LLC lifted its stake in shares of Blackstone by 2,185.4% in the 3rd quarter. Icon Wealth Advisors LLC now owns 18,946 shares of the asset manager’s stock valued at $2,901,000 after acquiring an additional 18,117 shares during the last quarter. Wealthcare Capital Partners LLC bought a new stake in shares of Blackstone in the 4th quarter valued at about $2,102,000. Finally, Highland Capital Management LLC lifted its stake in shares of Blackstone by 214.2% in the 4th quarter. Highland Capital Management LLC now owns 22,303 shares of the asset manager’s stock valued at $3,845,000 after acquiring an additional 15,205 shares during the last quarter. Institutional investors own 70.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on BX. Citigroup reissued a “hold” rating on shares of Blackstone in a research note on Friday, February 7th. Keefe, Bruyette & Woods boosted their price target on Blackstone from $174.00 to $177.00 and gave the company a “market perform” rating in a report on Friday, January 31st. TD Cowen upgraded Blackstone from a “hold” rating to a “buy” rating and boosted their price target for the company from $149.00 to $230.00 in a report on Monday, December 9th. StockNews.com downgraded Blackstone from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Finally, BMO Capital Markets boosted their price target on Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a report on Thursday, December 19th. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $172.38.

Blackstone Stock Performance

Blackstone stock opened at $141.01 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $102.86 billion, a P/E ratio of 38.85, a PEG ratio of 1.07 and a beta of 1.55. The stock’s 50 day moving average is $165.90 and its 200 day moving average is $167.02. Blackstone Inc. has a twelve month low of $115.82 and a twelve month high of $200.96.

Blackstone (NYSE:BX) last posted its quarterly earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share 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%. On average, equities research analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 10th were given a $1.44 dividend. The ex-dividend date of this dividend was Monday, February 10th. This is a boost from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 annualized dividend and a yield of 4.08%. Blackstone’s dividend payout ratio is 158.68%.

Insider Activity at Blackstone

In other news, Director Ruth Porat purchased 301 shares of the stock in a transaction dated Tuesday, February 18th. The shares were purchased at an average cost of $164.85 per share, with a total value of $49,619.85. Following the acquisition, the director now directly owns 36,829 shares of the company’s stock, valued at $6,071,260.65. This represents a 0.82 % increase in their ownership of the stock. The acquisition 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 insiders.

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.