Accurate Wealth Management LLC purchased a new position in shares of Blackstone Inc. (NYSE:BX – Get Rating) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 4,472 shares of the asset manager’s stock, valued at approximately $360,000.
Several other hedge funds have also recently added to or reduced their stakes in the company. Mach 1 Financial Group LLC acquired a new stake in Blackstone in the 3rd quarter valued at $25,000. SJS Investment Consulting Inc. purchased a new position in Blackstone during the 3rd quarter worth $26,000. HWG Holdings LP purchased a new position in Blackstone during the 3rd quarter worth $28,000. Ameliora Wealth Management Ltd. purchased a new position in Blackstone during the 3rd quarter worth $29,000. Finally, Trust Co. of Vermont boosted its holdings in Blackstone by 133.3% during the 3rd quarter. Trust Co. of Vermont now owns 350 shares of the asset manager’s stock worth $30,000 after acquiring an additional 200 shares during the last quarter. Institutional investors own 62.39% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts have issued reports on the stock. BMO Capital Markets lifted their price objective on shares of Blackstone from $85.00 to $92.00 and gave the stock a “market perform” rating in a report on Friday, January 27th. The Goldman Sachs Group lifted their target price on Blackstone from $86.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday, January 30th. Wells Fargo & Company lifted their target price on Blackstone from $95.00 to $103.00 and gave the stock an “overweight” rating in a research note on Friday, January 27th. StockNews.com started coverage on Blackstone in a research note on Thursday. They issued a “sell” rating on the stock. Finally, Morgan Stanley boosted their price objective on Blackstone from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Monday, January 30th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $112.33.
Blackstone Price Performance
Blackstone (NYSE:BX – Get Rating) last announced its earnings results on Thursday, January 26th. The asset manager reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.12. The company had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $2.62 billion. Blackstone had a return on equity of 19.43% and a net margin of 20.52%. During the same quarter in the prior year, the company earned $1.71 earnings per share. As a group, equities research analysts forecast that Blackstone Inc. will post 4.66 earnings per share for the current year.
Blackstone Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, February 13th. Shareholders of record on Monday, February 6th were issued a $0.91 dividend. This is an increase from Blackstone’s previous quarterly dividend of $0.90. The ex-dividend date was Friday, February 3rd. This represents a $3.64 dividend on an annualized basis and a yield of 4.29%. Blackstone’s dividend payout ratio is 153.59%.
Insiders Place Their Bets
In other Blackstone news, major shareholder Holdings L.P. Blackstone III sold 205,500 shares of the stock in a transaction on Thursday, January 26th. The stock was sold at an average price of $33.00, for a total value of $6,781,500.00. Following the completion of the transaction, the insider now owns 9,844,228 shares in the company, valued at $324,859,524. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, major shareholder Holdings L.P. Blackstone III sold 205,500 shares of the stock in a transaction on Thursday, January 26th. The stock was sold at an average price of $33.00, for a total value of $6,781,500.00. Following the sale, the insider now directly owns 9,844,228 shares of the company’s stock, valued at $324,859,524. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 11,750,000 shares of the stock in a transaction on Wednesday, March 8th. The stock was sold at an average price of $22.17, for a total value of $260,497,500.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 140,532,616 shares of company stock worth $1,726,902,967. 1.00% of the stock is owned by corporate insiders.
Blackstone Company Profile
Blackstone, Inc engages in the provision of investment and fund management services. It operates through the following segments: Real Estate, Private Equity, Credit and Insurance, and Hedge Fund Solutions. The Real Estate segment includes management of opportunistic real estate funds, Core+ real estate funds, high-yield real estate debt funds, and liquid real estate debt funds.
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