PKS Advisory Services LLC Acquires New Shares in Blackstone Inc. (NYSE:BX)

PKS Advisory Services LLC purchased a new position in shares of Blackstone Inc. (NYSE:BX) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 12,467 shares of the asset manager’s stock, valued at approximately $2,150,000.

A number of other large investors have also added to or reduced their stakes in BX. Bangor Savings Bank raised 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 buying an additional 105 shares during the last quarter. Hager Investment Management Services LLC bought a new position in shares of Blackstone in the 4th quarter worth about $28,000. Centricity Wealth Management LLC bought a new stake in shares of Blackstone during the 4th quarter valued at about $30,000. Berbice Capital Management LLC bought a new stake in Blackstone in the fourth quarter worth approximately $34,000. Finally, Comprehensive Financial Planning Inc. PA bought a new position in shares of Blackstone during the 4th quarter worth approximately $34,000. Institutional investors own 70.00% of the company’s stock.

Insiders Place Their Bets

In other news, Director Ruth Porat acquired 301 shares of the stock in a transaction dated Tuesday, February 18th. The stock was purchased at an average cost of $164.85 per share, with a total value of $49,619.85. Following the completion of the purchase, the director now owns 36,829 shares in the company, valued at approximately $6,071,260.65. The trade was a 0.82 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.00% of the company’s stock.

Blackstone Price Performance

Shares of Blackstone stock opened at $152.13 on Tuesday. The business’s 50-day moving average price is $163.26 and its 200-day moving average price is $167.59. The firm has a market capitalization of $110.97 billion, a PE ratio of 41.91, a price-to-earnings-growth ratio of 1.07 and a beta of 1.55. Blackstone Inc. has a 12 month low of $115.82 and a 12 month high of $200.96. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61.

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, beating analysts’ consensus estimates of $1.50 by $0.19. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. Sell-side analysts forecast that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The business also recently declared 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. This represents a $5.76 annualized dividend and a yield of 3.79%. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date was Monday, February 10th. Blackstone’s dividend payout ratio (DPR) is presently 158.68%.

Analysts Set New Price Targets

Several research firms have weighed in on BX. TD Cowen raised shares of Blackstone from a “hold” rating to a “buy” rating and lifted their price target for the company from $149.00 to $230.00 in a research note on Monday, December 9th. Barclays reiterated an “equal weight” rating on shares of Blackstone in a research note on Friday, February 7th. Wells Fargo & Company lowered their target price on shares of Blackstone from $180.00 to $160.00 and set an “equal weight” rating for the company in a report on Thursday, March 20th. Keefe, Bruyette & Woods boosted their price objective on Blackstone from $174.00 to $177.00 and gave the stock a “market perform” rating in a research report on Friday, January 31st. Finally, StockNews.com cut shares of Blackstone from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Twelve research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $171.13.

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.