Blackstone Inc. (NYSE:BX) Shares Purchased by Cooper Financial Group

Cooper Financial Group raised its position in shares of Blackstone Inc. (NYSE:BX) by 4.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,716 shares of the asset manager’s stock after acquiring an additional 222 shares during the quarter. Cooper Financial Group’s holdings in Blackstone were worth $986,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Bangor Savings Bank boosted its stake in Blackstone by 187.5% during the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock worth $28,000 after purchasing an additional 105 shares during the last quarter. West Financial Advisors LLC acquired a new position in Blackstone during the third quarter worth about $27,000. Kieckhefer Group LLC acquired a new stake in Blackstone in the 4th quarter valued at about $39,000. Raleigh Capital Management Inc. boosted its holdings in shares of Blackstone by 32.1% during the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after purchasing an additional 62 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. increased its holdings in shares of Blackstone by 57.7% in the third quarter. Hazlett Burt & Watson Inc. now owns 276 shares of the asset manager’s stock valued at $43,000 after purchasing an additional 101 shares during the last quarter. 70.00% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on BX. Bank of America upped their target price on Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a report on Friday, October 18th. Piper Sandler lifted 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. Keefe, Bruyette & Woods cut their price target on shares of Blackstone from $175.00 to $174.00 and set a “market perform” rating for the company in a report on Monday. Cowen reiterated a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. Finally, JPMorgan Chase & Co. upped their price target on Blackstone from $125.00 to $146.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Twelve equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Blackstone presently has a consensus rating of “Hold” and an average target price of $170.50.

Blackstone Price Performance

BX stock opened at $165.70 on Tuesday. The business’s 50-day moving average is $180.71 and its two-hundred day moving average is $157.27. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71. Blackstone Inc. has a 1 year low of $114.88 and a 1 year high of $200.96. The firm has a market capitalization of $119.64 billion, a P/E ratio of 56.94, a P/E/G ratio of 1.63 and a beta of 1.53.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Thursday, October 17th. The asset manager reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.10. The company had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.37 billion. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. Analysts anticipate that Blackstone Inc. will post 4.43 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Monday, October 28th were issued a $0.86 dividend. The ex-dividend date was Monday, October 28th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.08%. This is an increase from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s dividend payout ratio is presently 118.21%.

Insider Buying and Selling

In other Blackstone news, insider John G. Finley sold 42,249 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $175.94, for a total value of $7,433,289.06. Following the completion of the transaction, the insider now owns 387,137 shares in the company, valued at $68,112,883.78. This represents a 9.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.00% of the stock is owned by company insiders.

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.