F m Investments LLC Increases Stock Position in Blackstone Inc. $BX

F m Investments LLC increased its stake in shares of Blackstone Inc. (NYSE:BXFree Report) by 46.2% in the 3rd quarter, Holdings Channel reports. The firm owned 76,353 shares of the asset manager’s stock after buying an additional 24,112 shares during the period. F m Investments LLC’s holdings in Blackstone were worth $13,045,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in BX. REAP Financial Group LLC bought a new position in shares of Blackstone during the 3rd quarter valued at $26,000. Traub Capital Management LLC bought a new stake in shares of Blackstone in the second quarter worth $27,000. Redmont Wealth Advisors LLC bought a new position in Blackstone in the third quarter valued at about $30,000. Parvin Asset Management LLC bought a new stake in shares of Blackstone during the 2nd quarter valued at about $35,000. Finally, Rexford Capital Inc. purchased a new position in shares of Blackstone in the second quarter worth approximately $35,000. Institutional investors own 70.00% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on BX. Weiss Ratings reiterated a “hold (c)” rating on shares of Blackstone in a research note on Wednesday, January 21st. Piper Sandler cut their price target on Blackstone from $168.00 to $158.00 and set a “neutral” rating for the company in a report on Monday, February 2nd. Royal Bank Of Canada began coverage on Blackstone in a research note on Monday, February 23rd. They issued an “outperform” rating and a $179.00 price objective on the stock. Citizens Jmp reiterated a “market outperform” rating and set a $195.00 price objective on shares of Blackstone in a research note on Friday, January 30th. Finally, Bank of America decreased their target price on shares of Blackstone from $199.00 to $189.00 in a research note on Wednesday, December 10th. Eleven research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, Blackstone currently has an average rating of “Moderate Buy” and a consensus target price of $165.86.

Read Our Latest Stock Report on BX

Insider Activity

In related news, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of the stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $10.00, for a total transaction of $15,961,420.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Holdings Iv Gp Mana Blackstone acquired 1,146,789 shares of Blackstone stock in a transaction on Monday, February 23rd. The stock was purchased at an average cost of $26.16 per share, for a total transaction of $30,000,000.24. Following the purchase, the insider owned 16,716,249 shares in the company, valued at approximately $437,297,073.84. The trade was a 7.37% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 1.00% of the company’s stock.

Blackstone Stock Performance

NYSE:BX opened at $106.62 on Friday. The stock has a 50-day moving average price of $134.85 and a 200 day moving average price of $150.59. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.61. Blackstone Inc. has a 12-month low of $101.73 and a 12-month high of $190.09. The stock has a market capitalization of $79.13 billion, a P/E ratio of 27.48, a P/E/G ratio of 0.81 and a beta of 1.79.

Blackstone (NYSE:BXGet Free Report) last announced its quarterly earnings data on Thursday, January 29th. The asset manager reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.21. Blackstone had a net margin of 20.89% and a return on equity of 22.17%. The business had revenue of $4.36 billion during the quarter, compared to analyst estimates of $3.69 billion. During the same period last year, the firm posted $1.69 EPS. The company’s revenue was up 41.4% on a year-over-year basis. Equities research analysts forecast that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 17th. Shareholders of record on Monday, February 9th were issued a dividend of $1.49 per share. This is a boost from Blackstone’s previous quarterly dividend of $1.29. The ex-dividend date of this dividend was Monday, February 9th. This represents a $5.96 annualized dividend and a dividend yield of 5.6%. Blackstone’s payout ratio is currently 153.61%.

Blackstone News Roundup

Here are the key news stories impacting Blackstone this week:

Blackstone Company Profile

(Free Report)

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.

Further Reading

Want to see what other hedge funds are holding BX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Blackstone Inc. (NYSE:BXFree Report).

Institutional Ownership by Quarter for Blackstone (NYSE:BX)

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