Catalina Capital Group LLC Buys 65 Shares of Blackstone Inc. (NYSE:BX)

Catalina Capital Group LLC raised its position in Blackstone Inc. (NYSE:BX) by 3.2% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 2,117 shares of the asset manager’s stock after acquiring an additional 65 shares during the period. Catalina Capital Group LLC’s holdings in Blackstone were worth $365,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in the business. Sather Financial Group Inc raised its holdings in shares of Blackstone by 202.5% in the 3rd quarter. Sather Financial Group Inc now owns 6,050 shares of the asset manager’s stock worth $926,000 after purchasing an additional 4,050 shares during the period. Portside Wealth Group LLC bought a new stake in Blackstone in the 3rd quarter worth approximately $201,000. Aljian Capital Management LLC bought a new stake in Blackstone in the third quarter valued at approximately $1,951,000. Icon Wealth Advisors LLC raised its stake in shares of Blackstone by 2,185.4% during the third quarter. Icon Wealth Advisors LLC now owns 18,946 shares of the asset manager’s stock valued at $2,901,000 after acquiring an additional 18,117 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its position in Blackstone by 3.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,169,526 shares of the asset manager’s stock valued at $179,089,000 after purchasing an additional 36,343 shares during the last quarter. 70.00% of the stock is owned by institutional investors.

Blackstone Stock Down 2.0 %

Blackstone stock opened at $173.55 on Tuesday. The stock has a market capitalization of $125.30 billion, a PE ratio of 47.81, a price-to-earnings-growth ratio of 1.18 and a beta of 1.53. The business has a 50 day simple moving average of $180.15 and a 200-day simple moving average of $162.63. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71. Blackstone Inc. has a 12 month low of $115.82 and a 12 month high of $200.96.

Blackstone (NYSE:BX) last issued its earnings results on Thursday, January 30th. The asset manager reported $1.69 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.19. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. On average, analysts anticipate that Blackstone Inc. will post 5.86 EPS for the current fiscal year.

Blackstone Increases Dividend

The company also recently announced 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 an increase from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 annualized dividend and a yield of 3.32%. The ex-dividend date of this dividend is Monday, February 10th. Blackstone’s payout ratio is currently 94.77%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BX. Wells Fargo & Company reduced their price target on Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. Piper Sandler increased their price objective on Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a research report on Monday, December 23rd. Morgan Stanley lifted their target price on shares of Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Evercore ISI raised their price target on Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Finally, Barclays lowered their price objective on shares of Blackstone from $192.00 to $186.00 and set an “equal weight” rating on the stock in a research note on Friday. Thirteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $172.38.

Insider Activity

In other Blackstone news, insider John G. Finley sold 42,249 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $175.94, for a total value of $7,433,289.06. Following the completion of the transaction, the insider now owns 387,137 shares in the company, valued at $68,112,883.78. This represents a 9.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.00% of the company’s stock.

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.