Corps Capital Advisors LLC Acquires New Stake in Blackstone Inc. (NYSE:BX)

Corps Capital Advisors LLC purchased a new stake in shares of Blackstone Inc. (NYSE:BX) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 5,000 shares of the asset manager’s stock, valued at approximately $862,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cumberland Partners Ltd boosted its position in Blackstone by 25.0% during the fourth quarter. Cumberland Partners Ltd now owns 12,500 shares of the asset manager’s stock worth $2,155,000 after purchasing an additional 2,500 shares during the period. Private Wealth Partners LLC boosted its holdings in Blackstone by 3.3% in the 4th quarter. Private Wealth Partners LLC now owns 36,806 shares of the asset manager’s stock worth $6,346,000 after buying an additional 1,172 shares during the period. Jessup Wealth Management Inc bought a new stake in Blackstone during the 4th quarter valued at $248,000. Bigelow Investment Advisors LLC grew its position in shares of Blackstone by 7.0% in the fourth quarter. Bigelow Investment Advisors LLC now owns 4,024 shares of the asset manager’s stock valued at $694,000 after purchasing an additional 263 shares in the last quarter. Finally, Atlas Legacy Advisors LLC bought a new stake in Blackstone during the 4th quarter worth approximately $526,000. Institutional investors own 70.00% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on BX. Piper Sandler upped their price target on shares of Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a report on Monday, December 23rd. Wells Fargo & Company lowered their price target on Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. Keefe, Bruyette & Woods upped their price objective on shares of Blackstone from $174.00 to $177.00 and gave the stock a “market perform” rating in a research report on Friday, January 31st. Barclays lowered their price target on shares of Blackstone from $192.00 to $186.00 and set an “equal weight” rating for the company in a research note on Friday, January 31st. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Thirteen research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Blackstone has an average rating of “Hold” and an average price target of $172.38.

Blackstone Stock Performance

Blackstone stock opened at $166.81 on Thursday. Blackstone Inc. has a fifty-two week low of $115.82 and a fifty-two week high of $200.96. The stock has a market cap of $120.44 billion, a price-to-earnings ratio of 45.95, a PEG ratio of 1.07 and a beta of 1.53. The stock’s 50 day simple moving average is $174.71 and its two-hundred day simple moving average is $165.04. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67.

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 analysts’ consensus estimates 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, analysts expect that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th were given a $1.44 dividend. This is a boost 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%. The ex-dividend date of this dividend was Monday, February 10th. Blackstone’s payout ratio is currently 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.