Blackstone Inc. (NYSE:BX) Stake Lifted by Fortem Financial Group LLC

Fortem Financial Group LLC raised its position in shares of Blackstone Inc. (NYSE:BX) by 2.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 11,049 shares of the asset manager’s stock after buying an additional 264 shares during the period. Fortem Financial Group LLC’s holdings in Blackstone were worth $1,905,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Glen Eagle Advisors LLC raised its position in Blackstone by 1.8% during 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 during the period. Investmark Advisory Group LLC lifted its position in shares of Blackstone by 2.4% in the third 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. Raleigh Capital Management Inc. grew its position in Blackstone by 32.1% during the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock valued at $39,000 after purchasing an additional 62 shares in the last quarter. Capital Advisors Ltd. LLC lifted its position in Blackstone by 2.3% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 2,787 shares of the asset manager’s stock worth $427,000 after buying an additional 62 shares in the last quarter. Finally, Fidelis Capital Partners LLC boosted its stake in shares of Blackstone by 2.7% during the 3rd quarter. Fidelis Capital Partners LLC now owns 2,374 shares of the asset manager’s stock valued at $396,000 after buying an additional 62 shares during the period. Institutional investors own 70.00% of the company’s stock.

Analyst Ratings Changes

BX has been the subject of several recent research reports. Barclays boosted their price target on Blackstone from $174.00 to $199.00 and gave the company an “equal weight” rating in a research note on Monday, December 9th. Wells Fargo & Company downgraded shares of Blackstone from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $188.00 to $195.00 in a report on Thursday, December 12th. UBS Group boosted their target price on shares of Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Bank of America upped their price target on Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Finally, Citigroup upped their target price on shares of Blackstone from $157.00 to $170.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Fourteen research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Blackstone presently has an average rating of “Hold” and an average target price of $171.00.

Insider Buying and Selling at Blackstone

In related news, insider John G. Finley sold 42,249 shares of Blackstone stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $175.94, for a total value of $7,433,289.06. Following the sale, the insider now owns 387,137 shares of the company’s stock, valued at approximately $68,112,883.78. This trade represents a 9.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.00% of the company’s stock.

Blackstone Trading Down 0.6 %

NYSE BX traded down $1.01 on Monday, reaching $174.90. The company had a trading volume of 1,432,316 shares, compared to its average volume of 1,776,732. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. Blackstone Inc. has a 52 week low of $114.88 and a 52 week high of $200.96. The stock has a market cap of $126.28 billion, a price-to-earnings ratio of 60.10, a PEG ratio of 1.63 and a beta of 1.53. The stock’s 50 day moving average is $180.49 and its 200-day moving average is $155.31.

Blackstone (NYSE:BX) last posted its earnings results on Thursday, October 17th. The asset manager reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.10. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. The company had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.37 billion. Equities analysts predict that Blackstone Inc. will post 4.43 earnings per share for the current year.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Monday, October 28th were paid a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a yield of 1.97%. This is a boost from Blackstone’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend was Monday, October 28th. Blackstone’s dividend payout ratio is presently 118.21%.

Blackstone 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.