Tradewinds LLC. Invests $447,000 in Blackstone Inc. (NYSE:BX)

Tradewinds LLC. bought a new position in shares of Blackstone Inc. (NYSE:BX) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,723 shares of the asset manager’s stock, valued at approximately $447,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bangor Savings Bank increased its position in shares of Blackstone by 187.5% during the fourth 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 period. Hager Investment Management Services LLC bought a new stake in Blackstone during the 4th quarter worth 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 $33,000. Finally, Berbice Capital Management LLC bought a new stake in Blackstone during the fourth quarter valued at $34,000. Institutional investors own 70.00% of the company’s stock.

Insider Buying and Selling

In other Blackstone news, Director Ruth Porat acquired 301 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were acquired at an average price of $164.85 per share, for a total transaction of $49,619.85. Following the completion of the acquisition, the director now owns 36,829 shares in the company, valued at $6,071,260.65. This trade represents a 0.82 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.00% of the stock is owned by insiders.

Blackstone Stock Up 2.1 %

Shares of NYSE:BX opened at $142.77 on Wednesday. The company has a market cap of $104.14 billion, a PE ratio of 39.33, a P/E/G ratio of 1.07 and a beta of 1.55. Blackstone Inc. has a 1 year low of $115.82 and a 1 year high of $200.96. The stock’s 50-day moving average is $159.28 and its 200 day moving average is $167.61. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71.

Blackstone (NYSE:BX) last issued 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 anticipate that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th were paid a $1.44 dividend. This represents a $5.76 dividend on an annualized basis and a dividend yield of 4.03%. The ex-dividend date was Monday, February 10th. This is a boost from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s dividend payout ratio (DPR) is presently 158.68%.

Analysts Set New Price Targets

BX has been the topic of several recent analyst reports. Keefe, Bruyette & Woods raised their price target on Blackstone from $174.00 to $177.00 and gave the company a “market perform” rating in a report on Friday, January 31st. StockNews.com cut shares of Blackstone from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. UBS Group raised shares of Blackstone from a “neutral” rating to a “buy” rating and set a $180.00 price objective for the company in a report on Monday, March 17th. Barclays reissued an “equal weight” rating on shares of Blackstone in a research note on Friday, February 7th. Finally, TD Cowen upgraded Blackstone from a “hold” rating to a “buy” rating and upped their price objective for the stock from $149.00 to $230.00 in a report on Monday, December 9th. Twelve analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target 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.