Kirtland Hills Capital Management LLC Has $1.68 Million Holdings in Blackstone Inc. (NYSE:BX)

Kirtland Hills Capital Management LLC boosted its holdings in shares of Blackstone Inc. (NYSE:BX) by 9.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,765 shares of the asset manager’s stock after buying an additional 830 shares during the period. Blackstone makes up about 1.1% of Kirtland Hills Capital Management LLC’s holdings, making the stock its 25th biggest position. Kirtland Hills Capital Management LLC’s holdings in Blackstone were worth $1,684,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in BX. TruNorth Capital Management LLC acquired a new position in Blackstone in the fourth quarter worth approximately $414,000. Sentry Investment Management LLC acquired a new position in Blackstone during the fourth quarter worth $510,000. BankPlus Trust Department acquired a new position in Blackstone during the fourth quarter worth $3,052,000. IFP Advisors Inc increased its holdings in shares of Blackstone by 190.4% during the 4th quarter. IFP Advisors Inc now owns 7,181 shares of the asset manager’s stock valued at $1,238,000 after acquiring an additional 4,708 shares during the last quarter. Finally, J. W. Coons Advisors LLC acquired a new position in shares of Blackstone during the 4th quarter valued at about $416,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on BX. UBS Group raised their target price on shares of Blackstone from $170.00 to $180.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Deutsche Bank Aktiengesellschaft raised their price target on Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a research report on Monday, November 11th. StockNews.com lowered Blackstone from a “buy” rating to a “hold” rating in a report on Friday, January 31st. BMO Capital Markets raised their price objective on shares of Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a research note on Thursday, December 19th. Finally, Wells Fargo & Company decreased their price target on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $172.38.

Blackstone Stock Up 0.1 %

NYSE:BX opened at $157.22 on Wednesday. The stock’s fifty day moving average price is $172.44 and its two-hundred day moving average price is $166.12. Blackstone Inc. has a 52-week low of $115.82 and a 52-week high of $200.96. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67. The company has a market cap of $113.51 billion, a price-to-earnings ratio of 43.31, a P/E/G ratio of 1.07 and a beta of 1.53.

Blackstone (NYSE:BX) last released its earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, beating 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%. On average, analysts anticipate that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th were paid a $1.44 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.66%. This is an increase from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s dividend payout ratio is 158.68%.

Insider Buying and Selling at Blackstone

In other Blackstone news, Director Ruth Porat acquired 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 purchase, the director now owns 36,829 shares of the company’s stock, valued at $6,071,260.65. This represents a 0.82 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.00% of the company’s stock.

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.