21,364 Shares in Blackstone Inc. (NYSE:BX) Bought by Allstate Corp

Allstate Corp acquired a new position in Blackstone Inc. (NYSE:BX) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 21,364 shares of the asset manager’s stock, valued at approximately $3,684,000.

Other large investors have also recently bought and sold shares of the company. Bangor Savings Bank raised its stake in shares of Blackstone by 187.5% during the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after buying an additional 105 shares during the last quarter. Hager Investment Management Services LLC acquired a new position in Blackstone in the fourth quarter valued at approximately $28,000. Centricity Wealth Management LLC purchased a new stake in Blackstone in the 4th quarter worth approximately $30,000. Murphy & Mullick Capital Management Corp purchased a new position in shares of Blackstone during the 4th quarter valued at approximately $33,000. Finally, Berbice Capital Management LLC acquired a new stake in Blackstone during the fourth quarter valued at $34,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on BX. BMO Capital Markets increased their target price on shares of Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a research note on Thursday, December 19th. Piper Sandler boosted their price objective on Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a research report on Monday, December 23rd. UBS Group raised shares of Blackstone from a “neutral” rating to a “buy” rating and set a $180.00 price target for the company in a report on Monday, March 17th. Citigroup restated a “hold” rating on shares of Blackstone in a research report on Friday, February 7th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Blackstone from $174.00 to $177.00 and gave the stock a “market perform” rating in a research note on Friday, January 31st. Twelve investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $171.13.

Blackstone Trading Down 4.3 %

Shares of BX stock opened at $138.26 on Friday. Blackstone Inc. has a twelve month low of $115.82 and a twelve month high of $200.96. The stock has a market cap of $100.85 billion, a price-to-earnings ratio of 38.09, a PEG ratio of 1.07 and a beta of 1.55. The company’s 50-day moving average price is $160.86 and its 200-day moving average price is $167.37. 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 released its quarterly earnings results on Thursday, January 30th. The asset manager reported $1.69 EPS for the quarter, beating the consensus estimate of $1.50 by $0.19. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. As a group, equities analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were given a $1.44 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.76 dividend on an annualized basis and a yield of 4.17%. This is a boost from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s dividend payout ratio is presently 158.68%.

Insider Buying and Selling at Blackstone

In other news, Director Ruth Porat purchased 301 shares of the stock in a transaction dated Tuesday, February 18th. The stock was acquired at an average cost of $164.85 per share, for a total transaction of $49,619.85. Following the completion of the transaction, the director now directly owns 36,829 shares in the company, valued at approximately $6,071,260.65. This represents a 0.82 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.00% of the company’s stock.

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.