Romano Brothers AND Company grew its position in shares of Blackstone Inc. (NYSE:BX – Get Rating) by 5.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,353 shares of the asset manager’s stock after buying an additional 221 shares during the period. Romano Brothers AND Company’s holdings in Blackstone were worth $323,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Whalerock Point Partners LLC bought a new position in Blackstone during the 3rd quarter worth approximately $282,571,000. Mach 1 Financial Group LLC bought a new position in Blackstone during the 3rd quarter worth approximately $25,000. SJS Investment Consulting Inc. bought a new position in Blackstone during the 3rd quarter worth approximately $26,000. HWG Holdings LP acquired a new stake in shares of Blackstone during the 3rd quarter worth approximately $28,000. Finally, Trust Co. of Vermont raised its position in shares of Blackstone by 133.3% during the 3rd quarter. Trust Co. of Vermont now owns 350 shares of the asset manager’s stock worth $30,000 after purchasing an additional 200 shares during the period. Institutional investors own 62.39% of the company’s stock.
Blackstone Stock Down 0.6 %
Shares of BX stock opened at $83.94 on Friday. The stock has a market cap of $59.29 billion, a PE ratio of 35.42, a price-to-earnings-growth ratio of 1.83 and a beta of 1.52. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.97 and a current ratio of 0.97. The business’s fifty day moving average is $90.08 and its 200-day moving average is $87.69. Blackstone Inc. has a 1 year low of $71.72 and a 1 year high of $132.93.
Blackstone Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, February 13th. Stockholders of record on Monday, February 6th were paid a dividend of $0.91 per share. The ex-dividend date was Friday, February 3rd. This is a positive change from Blackstone’s previous quarterly dividend of $0.90. This represents a $3.64 annualized dividend and a dividend yield of 4.34%. Blackstone’s dividend payout ratio (DPR) is currently 153.59%.
Insider Transactions at Blackstone
In other news, major shareholder Holdings L.P. Blackstone III sold 99,889,464 shares of the firm’s stock in a transaction on Friday, March 10th. The stock was sold at an average price of $12.00, for a total value of $1,198,673,568.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, major shareholder Holdings L.P. Blackstone III sold 99,889,464 shares of the firm’s stock in a transaction on Friday, March 10th. The stock was sold at an average price of $12.00, for a total value of $1,198,673,568.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ruth Porat bought 277 shares of the firm’s stock in a transaction dated Monday, February 13th. The stock was acquired at an average cost of $92.61 per share, with a total value of $25,652.97. Following the transaction, the director now owns 30,851 shares of the company’s stock, valued at $2,857,111.11. The disclosure for this purchase can be found here. Insiders sold a total of 140,532,616 shares of company stock valued at $1,726,902,967 in the last three months. 1.00% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on the company. Morgan Stanley increased their price target on Blackstone from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Monday, January 30th. The Goldman Sachs Group increased their price target on Blackstone from $86.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday, January 30th. BMO Capital Markets raised their target price on Blackstone from $85.00 to $92.00 and gave the company a “market perform” rating in a research report on Friday, January 27th. StockNews.com initiated coverage on Blackstone in a research report on Thursday, March 16th. They issued a “sell” rating on the stock. Finally, JPMorgan Chase & Co. upgraded Blackstone from a “neutral” rating to an “overweight” rating and raised their target price for the company from $104.00 to $105.00 in a research report on Tuesday, January 24th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $112.33.
Blackstone Profile
Blackstone, Inc engages in the provision of investment and fund management services. It operates through the following segments: Real Estate, Private Equity, Credit and Insurance, and Hedge Fund Solutions. The Real Estate segment includes management of opportunistic real estate funds, Core+ real estate funds, high-yield real estate debt funds, and liquid real estate debt funds.
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