Blackstone Inc. (NYSE:BX) Shares Bought by King Luther Capital Management Corp

King Luther Capital Management Corp lifted its position in Blackstone Inc. (NYSE:BX) by 39.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,103 shares of the asset manager’s stock after acquiring an additional 3,985 shares during the period. King Luther Capital Management Corp’s holdings in Blackstone were worth $2,432,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the company. Sather Financial Group Inc raised its position in shares of Blackstone by 202.5% in the third quarter. Sather Financial Group Inc now owns 6,050 shares of the asset manager’s stock valued at $926,000 after buying an additional 4,050 shares during the last quarter. Aljian Capital Management LLC purchased a new position in Blackstone in the 3rd quarter worth approximately $1,951,000. Icon Wealth Advisors LLC increased its holdings in shares of Blackstone by 2,185.4% in the third quarter. Icon Wealth Advisors LLC now owns 18,946 shares of the asset manager’s stock valued at $2,901,000 after purchasing an additional 18,117 shares during the last quarter. Wealthcare Capital Partners LLC acquired a new position in Blackstone during the fourth quarter worth $2,102,000. Finally, Highland Capital Management LLC increased its stake in shares of Blackstone by 214.2% in the 4th quarter. Highland Capital Management LLC now owns 22,303 shares of the asset manager’s stock worth $3,845,000 after acquiring an additional 15,205 shares during the last quarter. 70.00% of the stock is owned by institutional investors and hedge funds.

Blackstone Stock Up 1.7 %

Blackstone stock opened at $140.46 on Thursday. The firm has a market capitalization of $102.46 billion, a P/E ratio of 38.70, a P/E/G ratio of 1.07 and a beta of 1.55. The stock’s fifty day simple moving average is $167.34 and its 200-day simple moving average is $167.06. Blackstone Inc. has a twelve month low of $115.82 and a twelve month high of $200.96. 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 announced its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.19. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. As a group, equities analysts expect that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th were given a dividend of $1.44 per share. This is a boost from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 annualized dividend and a dividend yield of 4.10%. The ex-dividend date of this dividend was Monday, February 10th. Blackstone’s payout ratio is 158.68%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Keefe, Bruyette & Woods upped their price objective on shares of Blackstone from $174.00 to $177.00 and gave the company a “market perform” rating in a report on Friday, January 31st. TD Cowen raised shares of Blackstone from a “hold” rating to a “buy” rating and lifted their price target for the company from $149.00 to $230.00 in a research report on Monday, December 9th. StockNews.com cut Blackstone from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Piper Sandler upped their price target on Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a research note on Monday, December 23rd. Finally, Wells Fargo & Company reduced their price objective on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $172.38.

Insider Activity at Blackstone

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

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.