Blackstone Inc. (NYSE:BX) Shares Bought by Hemington Wealth Management

Hemington Wealth Management boosted its stake in Blackstone Inc. (NYSE:BX) by 16.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 679 shares of the asset manager’s stock after acquiring an additional 98 shares during the quarter. Hemington Wealth Management’s holdings in Blackstone were worth $117,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the stock. Bangor Savings Bank boosted its holdings in shares of Blackstone by 187.5% during the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock worth $28,000 after purchasing an additional 105 shares during the last quarter. Hager Investment Management Services LLC acquired a new position in shares of Blackstone in the 4th quarter valued at $28,000. Berbice Capital Management LLC acquired a new position in Blackstone in the fourth quarter valued at about $34,000. Comprehensive Financial Planning Inc. PA purchased a new position in Blackstone during the fourth quarter worth about $34,000. Finally, Raleigh Capital Management Inc. boosted its stake in Blackstone by 32.1% during the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after buying an additional 62 shares during the period. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Stock Performance

Shares of NYSE:BX opened at $160.90 on Thursday. Blackstone Inc. has a one year low of $115.82 and a one year high of $200.96. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67. The company has a market cap of $116.17 billion, a P/E ratio of 44.33, a PEG ratio of 1.13 and a beta of 1.53. The business’s 50-day simple moving average is $177.56 and its 200 day simple moving average is $164.16.

Blackstone (NYSE:BX) last announced its earnings results 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 return on equity of 19.58% and a net margin of 20.99%. On average, sell-side analysts forecast that Blackstone Inc. will post 5.88 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th will be given a $1.44 dividend. This represents a $5.76 annualized dividend and a dividend yield of 3.58%. The ex-dividend date is Monday, February 10th. This is a boost from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s dividend payout ratio (DPR) is 94.77%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Deutsche Bank Aktiengesellschaft raised their target price on Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a report on Monday, November 11th. Keefe, Bruyette & Woods boosted their target price on Blackstone from $174.00 to $177.00 and gave the company a “market perform” rating in a report on Friday, January 31st. BMO Capital Markets lifted their price objective on shares of Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a research note on Thursday, December 19th. Bank of America upped their price target on Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Finally, Cowen reissued a “hold” rating on shares of Blackstone in a research note on Friday, October 18th. Thirteen research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $172.38.

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.