Blackstone Inc. (NYSE:BX) Shares Purchased by Glenview Trust co

Glenview Trust co lifted its stake in shares of Blackstone Inc. (NYSE:BX) by 4.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 27,065 shares of the asset manager’s stock after acquiring an additional 1,188 shares during the quarter. Glenview Trust co’s holdings in Blackstone were worth $4,667,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Signature Estate & Investment Advisors LLC lifted its stake in Blackstone by 23.6% during the third quarter. Signature Estate & Investment Advisors LLC now owns 3,918 shares of the asset manager’s stock valued at $600,000 after purchasing an additional 748 shares during the last quarter. Empirical Finance LLC boosted its stake in shares of Blackstone by 55.8% during the 3rd quarter. Empirical Finance LLC now owns 4,272 shares of the asset manager’s stock worth $654,000 after acquiring an additional 1,530 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of Blackstone by 12.5% in the 3rd quarter. Empowered Funds LLC now owns 29,148 shares of the asset manager’s stock worth $4,463,000 after acquiring an additional 3,236 shares during the last quarter. Natixis Advisors LLC lifted its holdings in shares of Blackstone by 61.4% during the third quarter. Natixis Advisors LLC now owns 329,139 shares of the asset manager’s stock valued at $50,401,000 after purchasing an additional 125,264 shares during the last quarter. Finally, Sather Financial Group Inc increased its stake in Blackstone by 202.5% in the 3rd 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 in the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Ruth Porat purchased 301 shares of the firm’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 directly owns 36,829 shares in the company, valued at $6,071,260.65. This represents a 0.82 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. TD Cowen raised shares of Blackstone from a “hold” rating to a “buy” rating and lifted their target price for the stock from $149.00 to $230.00 in a research report on Monday, December 9th. Wells Fargo & Company lowered their target price on Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. Piper Sandler lifted their target price on shares of Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a research note on Monday, December 23rd. Barclays reiterated an “equal weight” rating on shares of Blackstone in a report on Friday, February 7th. Finally, StockNews.com lowered Blackstone from a “buy” rating to a “hold” 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. 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 3.3 %

BX stock opened at $141.01 on Monday. The company has a 50-day moving average of $165.90 and a two-hundred day moving average of $167.21. Blackstone Inc. has a 52-week low of $115.82 and a 52-week high of $200.96. The stock has a market capitalization of $102.86 billion, a price-to-earnings ratio of 38.85, a price-to-earnings-growth ratio of 1.07 and a beta of 1.55. 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 (NYSE:BX) last announced its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 earnings per share (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%. As a group, equities research analysts anticipate that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 10th were given a $1.44 dividend. 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%. The ex-dividend date was Monday, February 10th. Blackstone’s dividend payout ratio (DPR) is 158.68%.

About Blackstone

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.