ST Germain D J Co. Inc. Purchases 1,205 Shares of Blackstone Inc. (NYSE:BX)

ST Germain D J Co. Inc. raised its holdings in shares of Blackstone Inc. (NYSE:BX) by 1.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 91,274 shares of the asset manager’s stock after acquiring an additional 1,205 shares during the quarter. ST Germain D J Co. Inc.’s holdings in Blackstone were worth $15,737,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in BX. Quest Partners LLC raised its stake in shares of Blackstone by 12,090.0% during the 2nd quarter. Quest Partners LLC now owns 1,219 shares of the asset manager’s stock worth $151,000 after purchasing an additional 1,209 shares in the last quarter. Dorsey & Whitney Trust CO LLC lifted its stake in Blackstone by 23.0% in the second quarter. Dorsey & Whitney Trust CO LLC now owns 2,538 shares of the asset manager’s stock valued at $314,000 after acquiring an additional 474 shares during the last quarter. Andra AP fonden acquired a new position in shares of Blackstone during the 2nd quarter worth about $669,000. MGO One Seven LLC lifted its stake in Blackstone by 4.8% in the 2nd quarter. MGO One Seven LLC now owns 23,369 shares of the asset manager’s stock valued at $2,893,000 after purchasing an additional 1,066 shares during the last quarter. Finally, LPL Financial LLC increased its position in Blackstone by 2.5% during the second quarter. LPL Financial LLC now owns 902,958 shares of the asset manager’s stock worth $111,786,000 after buying an additional 22,233 shares during the last quarter. Institutional investors own 70.00% of the company’s stock.

Insider Activity at Blackstone

In other news, insider John G. Finley sold 42,249 shares of Blackstone stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the transaction, the insider now owns 387,137 shares in the company, valued at approximately $68,112,883.78. The trade was a 9.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on BX. Piper Sandler boosted their target price on Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a report on Monday, December 23rd. The Goldman Sachs Group raised their target price on shares of Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Evercore ISI increased their price target on shares of Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a report on Monday, October 14th. JPMorgan Chase & Co. upped their target price on Blackstone from $125.00 to $146.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Finally, Bank of America lifted their price target on Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Thirteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Blackstone currently has an average rating of “Hold” and an average target price of $171.00.

Blackstone Price Performance

BX traded down $8.53 during trading on Friday, hitting $165.44. 1,660,062 shares of the stock traded hands, compared to its average volume of 2,116,207. The business has a 50 day moving average price of $180.80 and a 200 day moving average price of $156.25. The company has a market cap of $119.45 billion, a price-to-earnings ratio of 56.85, a PEG ratio of 1.63 and a beta of 1.53. Blackstone Inc. has a twelve month low of $114.88 and a twelve month high of $200.96. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71.

Blackstone (NYSE:BX) last released its quarterly earnings data on Thursday, October 17th. The asset manager reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.10. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. The business had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.37 billion. Equities research analysts forecast that Blackstone Inc. will post 4.43 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Monday, October 28th were paid a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.08%. This is a boost from Blackstone’s previous quarterly dividend of $0.82. The ex-dividend date was Monday, October 28th. Blackstone’s dividend payout ratio is presently 118.21%.

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.