Corps Capital Advisors LLC Acquires New Position in Blackstone Inc. (NYSE:BX)

Corps Capital Advisors LLC purchased a new stake in shares of Blackstone Inc. (NYSE:BX) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 5,000 shares of the asset manager’s stock, valued at approximately $862,000.

A number of other hedge funds also recently added to or reduced their stakes in the company. Bangor Savings Bank increased its holdings in shares of 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 purchasing an additional 105 shares in the last quarter. Hager Investment Management Services LLC purchased a new position in Blackstone in the 4th quarter worth about $28,000. Berbice Capital Management LLC bought a new position in Blackstone during the 4th quarter valued at about $34,000. Comprehensive Financial Planning Inc. PA purchased a new position in shares of Blackstone during the fourth quarter valued at approximately $34,000. Finally, Roxbury Financial LLC purchased a new stake in Blackstone in the fourth quarter worth approximately $34,000. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Blackstone Stock Up 0.0 %

Shares of BX opened at $166.81 on Thursday. The stock has a market capitalization of $120.44 billion, a price-to-earnings ratio of 45.95, a price-to-earnings-growth ratio of 1.07 and a beta of 1.53. The business’s 50 day simple moving average is $174.71 and its 200-day simple moving average is $165.04. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71. Blackstone Inc. has a 1 year low of $115.82 and a 1 year high of $200.96.

Blackstone (NYSE:BX) last posted 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%. As a group, equities analysts expect that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 10th were issued a dividend of $1.44 per share. This represents a $5.76 annualized dividend and a yield of 3.45%. The ex-dividend date was Monday, February 10th. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s dividend payout ratio is presently 158.68%.

Wall Street Analysts Forecast Growth

BX has been the topic of several research analyst reports. StockNews.com cut Blackstone from a “buy” rating to a “hold” rating in a report on Friday, January 31st. 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. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. UBS Group upped their target price on shares of Blackstone from $170.00 to $180.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Finally, Citigroup boosted their price objective on shares of Blackstone from $170.00 to $190.00 and gave the company a “neutral” rating in a research report 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. Based on data from MarketBeat.com, Blackstone has a consensus rating of “Hold” and a consensus price target 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.