Blackstone Inc. (NYSE:BX) Shares Sold by HUB Investment Partners LLC

HUB Investment Partners LLC decreased its position in shares of Blackstone Inc. (NYSE:BX) by 0.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,601 shares of the asset manager’s stock after selling 108 shares during the period. HUB Investment Partners LLC’s holdings in Blackstone were worth $2,000,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in BX. Whittier Trust Co. increased its holdings in shares of Blackstone by 0.8% in the fourth quarter. Whittier Trust Co. now owns 321,846 shares of the asset manager’s stock valued at $55,492,000 after purchasing an additional 2,541 shares during the period. iA Global Asset Management Inc. acquired a new position in shares of Blackstone in the fourth quarter valued at approximately $88,000. Teacher Retirement System of Texas increased its holdings in shares of Blackstone by 1,283.0% in the fourth quarter. Teacher Retirement System of Texas now owns 66,175 shares of the asset manager’s stock valued at $11,410,000 after purchasing an additional 61,390 shares during the period. Sandy Spring Bank increased its holdings in shares of Blackstone by 0.4% in the fourth quarter. Sandy Spring Bank now owns 96,629 shares of the asset manager’s stock valued at $16,661,000 after purchasing an additional 345 shares during the period. Finally, GM Advisory Group LLC increased its holdings in shares of Blackstone by 26.7% in the fourth quarter. GM Advisory Group LLC now owns 2,807 shares of the asset manager’s stock valued at $484,000 after purchasing an additional 592 shares during the period. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Stock Down 0.7 %

BX opened at $148.72 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. The firm has a market cap of $108.48 billion, a P/E ratio of 40.97, a PEG ratio of 1.07 and a beta of 1.55. Blackstone Inc. has a 52 week low of $115.82 and a 52 week high of $200.96. The business’s fifty day simple moving average is $163.86 and its 200 day simple moving average is $167.04.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.19. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. As a group, equities research analysts anticipate that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were paid a $1.44 dividend. This represents a $5.76 dividend on an annualized basis and a yield of 3.87%. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Monday, February 10th. Blackstone’s dividend payout ratio (DPR) is presently 158.68%.

Insiders Place Their Bets

In other Blackstone news, Director Ruth Porat purchased 301 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were purchased at an average cost of $164.85 per share, with a total value of $49,619.85. Following the purchase, the director now owns 36,829 shares in the company, valued at approximately $6,071,260.65. This represents a 0.82 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

BX has been the topic of a number of recent research reports. TD Cowen raised Blackstone from a “hold” rating to a “buy” rating and boosted their target price for the company from $149.00 to $230.00 in a report on Monday, December 9th. JPMorgan Chase & Co. upped their price objective on Blackstone from $149.00 to $154.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. BMO Capital Markets upped their price objective on Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a report on Thursday, December 19th. Barclays reaffirmed an “equal weight” rating on shares of Blackstone in a report on Friday, February 7th. Finally, Keefe, Bruyette & Woods upped their price objective on Blackstone from $174.00 to $177.00 and gave the stock a “market perform” rating in a report on Friday, January 31st. Twelve research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $171.13.

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.