Blackstone Inc. (NYSE:BX) Shares Bought by Intech Investment Management LLC

Intech Investment Management LLC raised its stake in Blackstone Inc. (NYSE:BX) by 60.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,599 shares of the asset manager’s stock after buying an additional 2,480 shares during the quarter. Intech Investment Management LLC’s holdings in Blackstone were worth $1,138,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Glen Eagle Advisors LLC increased its position in shares of Blackstone by 1.8% in the third quarter. Glen Eagle Advisors LLC now owns 3,251 shares of the asset manager’s stock valued at $498,000 after buying an additional 59 shares in the last quarter. Avidian Wealth Enterprises LLC increased its position in Blackstone by 0.4% during the 4th quarter. Avidian Wealth Enterprises LLC now owns 16,184 shares of the asset manager’s stock worth $2,790,000 after purchasing an additional 59 shares in the last quarter. Investmark Advisory Group LLC increased its position in Blackstone by 2.4% during the 3rd quarter. Investmark Advisory Group LLC now owns 2,608 shares of the asset manager’s stock worth $399,000 after purchasing an additional 60 shares in the last quarter. McIlrath & Eck LLC increased its position in Blackstone by 6.5% during the 3rd quarter. McIlrath & Eck LLC now owns 1,019 shares of the asset manager’s stock worth $156,000 after purchasing an additional 62 shares in the last quarter. Finally, McAdam LLC increased its position in Blackstone by 3.9% during the 4th quarter. McAdam LLC now owns 1,687 shares of the asset manager’s stock worth $291,000 after purchasing an additional 63 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Stock Performance

Blackstone stock opened at $148.65 on Friday. The stock’s 50 day moving average price is $163.53 and its 200 day moving average price is $167.28. The firm has a market capitalization of $108.43 billion, a PE ratio of 40.95, 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 quick ratio of 0.71 and a current ratio of 0.67. Blackstone Inc. has a one year low of $115.82 and a one year high of $200.96.

Blackstone (NYSE:BX) last released its quarterly earnings results on Thursday, January 30th. The asset manager reported $1.69 EPS for the quarter, topping the consensus estimate 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, sell-side analysts expect that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 10th were given a dividend of $1.44 per share. The ex-dividend date was Monday, February 10th. 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. Blackstone’s payout ratio is currently 158.68%.

Insider Activity at Blackstone

In other Blackstone news, Director Ruth Porat purchased 301 shares of Blackstone stock in a transaction on Tuesday, February 18th. The stock was bought at an average price of $164.85 per share, for a total transaction of $49,619.85. Following the transaction, the director now owns 36,829 shares of the company’s stock, valued at $6,071,260.65. The trade was a 0.82 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

BX has been the subject of a number of recent research reports. StockNews.com cut Blackstone from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. TD Cowen raised Blackstone from a “hold” rating to a “buy” rating and raised their price target for the stock from $149.00 to $230.00 in a research note on Monday, December 9th. Keefe, Bruyette & Woods raised their price target on Blackstone from $174.00 to $177.00 and gave the stock a “market perform” rating in a research note on Friday, January 31st. Barclays reissued an “equal weight” rating on shares of Blackstone in a research note on Friday, February 7th. Finally, Wells Fargo & Company decreased their price target on Blackstone from $180.00 to $160.00 and set an “equal weight” rating on the stock in a research note on Thursday. Twelve research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $171.13.

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.