ST Germain D J Co. Inc. Has $15.74 Million Holdings in Blackstone Inc. (NYSE:BX)

ST Germain D J Co. Inc. grew its holdings in shares of Blackstone Inc. (NYSE:BX) by 1.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 91,274 shares of the asset manager’s stock after acquiring an additional 1,205 shares during the period. ST Germain D J Co. Inc.’s holdings in Blackstone were worth $15,737,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. West Financial Advisors LLC bought a new position in shares of Blackstone during the 3rd quarter worth approximately $27,000. Bangor Savings Bank boosted its stake in Blackstone by 187.5% during the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock worth $28,000 after acquiring an additional 105 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in Blackstone in the second quarter valued at $39,000. Raleigh Capital Management Inc. boosted its position in shares of Blackstone by 32.1% during the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after purchasing an additional 62 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. increased its position in Blackstone by 57.7% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 276 shares of the asset manager’s stock valued at $43,000 after buying an additional 101 shares in the last quarter. 70.00% of the stock is owned by institutional investors and hedge funds.

Blackstone Stock Performance

Shares of NYSE BX traded down $8.53 during trading on Friday, reaching $165.44. 1,660,062 shares of the stock traded hands, compared to its average volume of 2,116,207. The company has a 50-day moving average of $180.80 and a 200-day moving average of $156.25. Blackstone Inc. has a 52-week low of $114.88 and a 52-week high of $200.96. The stock has a market capitalization of $119.45 billion, a P/E ratio of 56.85, a price-to-earnings-growth ratio of 1.63 and a beta of 1.53. 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 issued its earnings results on Thursday, October 17th. The asset manager reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.10. The firm had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.37 billion. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. Analysts forecast that Blackstone Inc. will post 4.43 EPS for the current fiscal year.

Blackstone Increases Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Citigroup boosted their price objective on Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Bank of America lifted their price objective on shares of Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a report on Friday, October 18th. BMO Capital Markets raised their price target on shares of Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a research report on Thursday, December 19th. Barclays raised their target price on Blackstone from $174.00 to $199.00 and gave the company an “equal weight” rating in a report on Monday, December 9th. Finally, Keefe, Bruyette & Woods raised their price objective on Blackstone from $169.00 to $175.00 and gave the company a “market perform” rating in a research note on Friday, December 20th. Thirteen analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $171.00.

Insider Buying and Selling at Blackstone

In related news, insider John G. Finley sold 42,249 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $175.94, for a total value of $7,433,289.06. Following the transaction, the insider now owns 387,137 shares of the company’s stock, valued at $68,112,883.78. This represents a 9.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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.