Blackstone Inc. (NYSE:BX) Stock Holdings Raised by Spirit of America Management Corp NY

Spirit of America Management Corp NY raised its stake in Blackstone Inc. (NYSE:BX) by 11.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 13,100 shares of the asset manager’s stock after acquiring an additional 1,350 shares during the period. Spirit of America Management Corp NY’s holdings in Blackstone were worth $2,259,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Bangor Savings Bank grew its position in shares of Blackstone by 187.5% during the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after buying an additional 105 shares during the last quarter. Hager Investment Management Services LLC acquired a new position in Blackstone during the 4th quarter valued at about $28,000. West Financial Advisors LLC acquired a new position in Blackstone during the 3rd quarter valued at about $27,000. Berbice Capital Management LLC acquired a new position in Blackstone during the 4th quarter valued at about $34,000. Finally, Kieckhefer Group LLC acquired a new position in Blackstone during the 4th quarter valued at about $39,000. Institutional investors own 70.00% of the company’s stock.

Blackstone Stock Down 1.5 %

Blackstone stock opened at $170.86 on Wednesday. The firm has a market cap of $123.36 billion, a PE ratio of 47.07, a P/E/G ratio of 1.18 and a beta of 1.53. 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 firm’s 50 day moving average price is $179.76 and its two-hundred day moving average price is $162.89. Blackstone Inc. has a twelve month low of $115.82 and a twelve month high of $200.96.

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

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th will be paid a dividend of $1.44 per share. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend is Monday, February 10th. This represents a $5.76 annualized dividend and a dividend yield of 3.37%. Blackstone’s dividend payout ratio is 94.77%.

Analysts Set New Price Targets

A number of research analysts have issued reports on BX shares. StockNews.com lowered shares of Blackstone from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Wells Fargo & Company reduced their price target on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. Morgan Stanley upped their price target on shares of Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. UBS Group upped their price target on shares of Blackstone from $170.00 to $180.00 and gave the stock a “neutral” rating in a research note on Monday. Finally, Keefe, Bruyette & Woods upped their price target on shares of Blackstone from $174.00 to $177.00 and gave the stock a “market perform” rating in a research note on Friday, January 31st. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $172.38.

Insider Transactions at Blackstone

In other news, insider John G. Finley sold 42,249 shares of the stock in a transaction 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 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.00% of the stock is currently 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.