1,439 Shares in Blackstone Inc. (NYSE:BX) Purchased by Jessup Wealth Management Inc

Jessup Wealth Management Inc acquired a new position in Blackstone Inc. (NYSE:BX) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,439 shares of the asset manager’s stock, valued at approximately $248,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sather Financial Group Inc grew its holdings in Blackstone by 202.5% in 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. Portside Wealth Group LLC acquired a new position in Blackstone during the 3rd quarter valued at about $201,000. Aljian Capital Management LLC purchased a new stake in Blackstone in the third quarter valued at about $1,951,000. Icon Wealth Advisors LLC grew its stake in shares of Blackstone by 2,185.4% during the third quarter. Icon Wealth Advisors LLC now owns 18,946 shares of the asset manager’s stock worth $2,901,000 after acquiring an additional 18,117 shares during the last quarter. Finally, Wealthcare Capital Partners LLC purchased a new position in shares of Blackstone in the 4th quarter valued at approximately $2,102,000. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Blackstone Stock Performance

Shares of BX stock opened at $166.81 on Thursday. 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 company has a market capitalization of $120.44 billion, a P/E ratio of 45.95, a P/E/G ratio of 1.07 and a beta of 1.53. The business’s 50 day moving average is $174.71 and its two-hundred day moving average is $165.04. 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, topping 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%. Analysts expect that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were issued 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 3.45%. This is a boost from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s dividend payout ratio is presently 158.68%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on BX. JPMorgan Chase & Co. raised their price target on shares of Blackstone from $149.00 to $154.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. 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 research note on Thursday, December 19th. StockNews.com downgraded Blackstone from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Deutsche Bank Aktiengesellschaft raised their price target on shares of Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Finally, Citigroup increased their price objective on shares of Blackstone from $170.00 to $190.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Thirteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $172.38.

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.