Somerset Group LLC Has $3.92 Million Stake in Blackstone Inc. (NYSE:BX)

Somerset Group LLC lowered its stake in Blackstone Inc. (NYSE:BX) by 1.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 22,758 shares of the asset manager’s stock after selling 439 shares during the period. Blackstone accounts for approximately 3.6% of Somerset Group LLC’s holdings, making the stock its 7th biggest holding. Somerset Group LLC’s holdings in Blackstone were worth $3,924,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Icon Wealth Advisors LLC boosted its holdings in shares of Blackstone by 2,185.4% in the 3rd quarter. Icon Wealth Advisors LLC now owns 18,946 shares of the asset manager’s stock valued at $2,901,000 after buying an additional 18,117 shares during the period. Wealthcare Capital Partners LLC acquired a new position in Blackstone in the fourth quarter valued at approximately $2,102,000. Highland Capital Management LLC raised its position in shares of Blackstone by 214.2% during the 4th quarter. Highland Capital Management LLC now owns 22,303 shares of the asset manager’s stock worth $3,845,000 after purchasing an additional 15,205 shares during the period. Nordea Investment Management AB boosted its position in Blackstone by 8.8% during the 4th quarter. Nordea Investment Management AB now owns 58,229 shares of the asset manager’s stock valued at $10,053,000 after purchasing an additional 4,688 shares during the period. Finally, Dynamic Technology Lab Private Ltd increased its position in Blackstone by 260.0% in the third quarter. Dynamic Technology Lab Private Ltd now owns 8,305 shares of the asset manager’s stock worth $1,272,000 after buying an additional 5,998 shares during the period. Institutional investors own 70.00% of the company’s stock.

Insider Activity

In related news, Director Ruth Porat purchased 301 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was acquired at an average cost of $164.85 per share, for a total transaction of $49,619.85. Following the completion of the acquisition, the director now owns 36,829 shares in the company, valued at $6,071,260.65. This trade represents a 0.82 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

Blackstone Stock Performance

BX opened at $148.65 on Friday. The business has a fifty day simple moving average of $163.53 and a 200-day simple moving average of $167.08. The firm has a market cap of $108.43 billion, a PE ratio of 40.95, a P/E/G ratio of 1.07 and a beta of 1.55. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. Blackstone Inc. has a fifty-two week low of $115.82 and a fifty-two week high of $200.96.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.19. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. As a group, equities analysts predict that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th were issued a $1.44 dividend. The ex-dividend date was Monday, February 10th. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.87%. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s dividend payout ratio is presently 158.68%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. BMO Capital Markets increased their price objective on shares of Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a report on Thursday, December 19th. Piper Sandler boosted their price objective on Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a research report on Monday, December 23rd. StockNews.com cut Blackstone from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Wells Fargo & Company decreased their price target on Blackstone from $180.00 to $160.00 and set an “equal weight” rating for the company in a research note on Thursday. Finally, UBS Group raised shares of Blackstone from a “neutral” rating to a “buy” rating and set a $180.00 price objective for the company in a report on Monday, March 17th. Twelve equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Blackstone currently has a consensus rating of “Hold” and an average target price of $171.13.

About Blackstone

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.