McAdam LLC Purchases 63 Shares of Blackstone Inc. (NYSE:BX)

McAdam LLC lifted its position in shares of Blackstone Inc. (NYSE:BX) by 3.9% during the 4th quarter, Holdings Channel reports. The firm owned 1,687 shares of the asset manager’s stock after purchasing an additional 63 shares during the quarter. McAdam LLC’s holdings in Blackstone were worth $291,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of BX. International Assets Investment Management LLC lifted its position in shares of Blackstone by 15,357.3% in the third quarter. International Assets Investment Management LLC now owns 4,201,150 shares of the asset manager’s stock valued at $6,433,220,000 after buying an additional 4,173,971 shares during the last quarter. Castleark Management LLC acquired a new stake in Blackstone during the 3rd quarter valued at $67,472,000. State Street Corp increased its holdings in shares of Blackstone by 1.2% in the third quarter. State Street Corp now owns 30,020,426 shares of the asset manager’s stock valued at $4,597,028,000 after purchasing an additional 348,751 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Blackstone by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 14,896,413 shares of the asset manager’s stock worth $2,272,227,000 after buying an additional 336,308 shares during the last quarter. Finally, Pathway Financial Advisers LLC grew its stake in Blackstone by 15,294.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 236,453 shares of the asset manager’s stock valued at $36,208,000 after buying an additional 234,917 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Evercore ISI boosted their price objective on Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. JPMorgan Chase & Co. increased their price objective on Blackstone from $149.00 to $154.00 and gave the stock a “neutral” rating in a research report on Friday. Wells Fargo & Company decreased their price target on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. Keefe, Bruyette & Woods boosted 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. Finally, UBS Group raised their target price on shares of Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Thirteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $171.13.

Blackstone Price Performance

Shares of NYSE:BX opened at $176.92 on Monday. The firm has a 50 day simple moving average of $180.15 and a 200 day simple moving average of $162.43. The company has a market cap of $127.74 billion, a price-to-earnings ratio of 60.80, a PEG ratio of 1.24 and a beta of 1.53. 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 0.58, a current ratio of 0.71 and a quick ratio of 0.71.

Blackstone (NYSE:BX) last issued its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.19. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. Research analysts predict that Blackstone Inc. will post 4.41 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th will be given a $1.44 dividend. This is a boost from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 annualized dividend and a yield of 3.26%. The ex-dividend date is Monday, February 10th. Blackstone’s dividend payout ratio is 158.68%.

Insider Transactions at Blackstone

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