Silver Oak Securities Incorporated Acquires New Position in Blackstone Inc. (NYSE:BX)

Silver Oak Securities Incorporated purchased a new position in shares of Blackstone Inc. (NYSE:BX) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,659 shares of the asset manager’s stock, valued at approximately $285,000.

Other large investors have also recently added to or reduced their stakes in the company. Bangor Savings Bank raised its holdings in Blackstone by 187.5% in 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 period. Hager Investment Management Services LLC acquired a new position in shares of Blackstone in the 4th quarter worth approximately $28,000. Berbice Capital Management LLC acquired a new stake in Blackstone in the 4th quarter valued at approximately $34,000. Raleigh Capital Management Inc. boosted its position in shares of Blackstone by 32.1% during the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after buying an additional 62 shares during the period. Finally, Kieckhefer Group LLC purchased a new stake in shares of Blackstone in the 4th quarter valued at $39,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have issued reports on BX shares. Bank of America boosted their price target on shares of Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. JPMorgan Chase & Co. raised their price target 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 lifted their target price on Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a report on Monday, December 23rd. Keefe, Bruyette & Woods lifted their price objective on Blackstone from $174.00 to $177.00 and gave the company a “market perform” rating in a research note on Friday, January 31st. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Thirteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $172.38.

Blackstone Price Performance

BX stock opened at $170.11 on Monday. The business has a 50 day simple moving average of $178.36 and a 200-day simple moving average of $163.62. Blackstone Inc. has a twelve month low of $115.82 and a twelve month high of $200.96. The company has a market capitalization of $122.82 billion, a P/E ratio of 46.86, a PEG ratio of 1.13 and a beta of 1.53. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61.

Blackstone (NYSE:BX) last announced its earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share for the quarter, topping 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%. As a group, equities analysts anticipate that Blackstone Inc. will post 5.88 EPS for the current year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th will be paid 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 3.39%. The ex-dividend date of this dividend is Monday, February 10th. Blackstone’s payout ratio is currently 94.77%.

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.