Jessup Wealth Management Inc Takes Position in Blackstone Inc. (NYSE:BX)

Jessup Wealth Management Inc bought a new stake in Blackstone Inc. (NYSE:BX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,439 shares of the asset manager’s stock, valued at approximately $248,000.

A number of other large investors have also made changes to their positions in the company. International Assets Investment Management LLC boosted its position in shares of Blackstone by 15,357.3% in the third quarter. International Assets Investment Management LLC now owns 4,201,150 shares of the asset manager’s stock worth $6,433,220,000 after purchasing an additional 4,173,971 shares during the period. Jennison Associates LLC lifted its stake in shares of Blackstone by 111.1% during the 4th quarter. Jennison Associates LLC now owns 973,348 shares of the asset manager’s stock valued at $167,825,000 after buying an additional 512,165 shares in the last quarter. Castleark Management LLC purchased a new stake in Blackstone in the 3rd quarter worth $67,472,000. State Street Corp lifted its position in shares of Blackstone by 1.2% in the third quarter. State Street Corp now owns 30,020,426 shares of the asset manager’s stock valued at $4,597,028,000 after acquiring an additional 348,751 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Blackstone by 2.3% in the third quarter. Geode Capital Management LLC now owns 14,896,413 shares of the asset manager’s stock worth $2,272,227,000 after acquiring an additional 336,308 shares during the period. 70.00% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on BX shares. UBS Group boosted their price target on Blackstone from $170.00 to $180.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Wells Fargo & Company cut their target price 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. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a report on Monday, November 11th. Barclays decreased their target price on Blackstone from $192.00 to $186.00 and set an “equal weight” rating on the stock in a research report on Friday, January 31st. Finally, StockNews.com cut Blackstone from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $172.38.

Blackstone Stock Up 0.0 %

Shares of NYSE BX opened at $166.81 on Thursday. The company has a market cap of $120.44 billion, a P/E ratio of 45.95, a PEG ratio of 1.07 and a beta of 1.53. The firm has a 50-day simple moving average of $174.71 and a two-hundred day simple moving average of $165.04. 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.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 EPS for the quarter, beating 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%. Research analysts anticipate that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th were given a dividend of $1.44 per share. The ex-dividend date was Monday, February 10th. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.45%. Blackstone’s dividend payout ratio (DPR) is 158.68%.

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.