Blackstone Inc. (NYSE:BX) Shares Bought by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC increased its holdings in shares of Blackstone Inc. (NYSE:BX) by 8.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 15,344 shares of the asset manager’s stock after acquiring an additional 1,166 shares during the period. Frank Rimerman Advisors LLC’s holdings in Blackstone were worth $2,646,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Catalyst Funds Management Pty Ltd acquired a new stake in shares of Blackstone in the fourth quarter valued at about $345,000. Atala Financial Inc acquired a new stake in Blackstone in the 4th quarter worth about $273,000. LBP AM SA acquired a new position in shares of Blackstone during the fourth quarter valued at approximately $2,191,000. Madison Investment Advisors LLC acquired a new stake in shares of Blackstone in the fourth quarter worth approximately $298,000. Finally, Commonwealth Equity Services LLC raised its stake in Blackstone by 0.8% in the 4th quarter. Commonwealth Equity Services LLC now owns 716,319 shares of the asset manager’s stock valued at $123,508,000 after purchasing an additional 5,951 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Wall Street Analysts Forecast Growth

BX has been the subject of a number of recent research reports. JPMorgan Chase & Co. increased their target price on shares of Blackstone from $149.00 to $154.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Piper Sandler raised their target price on shares of Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a research note on Monday, December 23rd. StockNews.com cut Blackstone from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Barclays restated an “equal weight” rating on shares of Blackstone in a report on Friday, February 7th. Finally, UBS Group reissued a “neutral” rating on shares of Blackstone in a report on Monday, March 3rd. Thirteen equities 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, Blackstone presently has an average rating of “Hold” and an average price target of $172.38.

Insider Buying and Selling at Blackstone

In other Blackstone news, Director Ruth Porat acquired 301 shares of the stock in a transaction dated Tuesday, February 18th. The stock was acquired at an average cost of $164.85 per share, with a total value of $49,619.85. Following the transaction, the director now owns 36,829 shares in the company, valued at $6,071,260.65. The trade was a 0.82 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.00% of the company’s stock.

Blackstone Stock Performance

NYSE BX opened at $141.01 on Friday. The company has a market cap of $102.86 billion, a P/E ratio of 38.85, a P/E/G ratio of 1.07 and a beta of 1.55. Blackstone Inc. has a 1-year low of $115.82 and a 1-year high of $200.96. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71. The stock has a 50-day moving average of $165.90 and a two-hundred day moving average of $166.84.

Blackstone (NYSE:BX) last released its earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, topping 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%. As a group, analysts anticipate that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 10th were issued a $1.44 dividend. This is a boost from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date was Monday, February 10th. This represents a $5.76 annualized dividend and a yield of 4.08%. Blackstone’s dividend payout ratio (DPR) is 158.68%.

Blackstone Company 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.