R.H. Investment Group LLC Buys Shares of 1,350 Blackstone Inc. (NYSE:BX)

R.H. Investment Group LLC purchased a new stake in shares of Blackstone Inc. (NYSE:BX) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 1,350 shares of the asset manager’s stock, valued at approximately $233,000.

Several other hedge funds also recently added to or reduced their stakes in BX. State Street Corp grew its holdings in shares of Blackstone by 1.2% during the 3rd quarter. State Street Corp now owns 30,020,426 shares of the asset manager’s stock worth $4,597,028,000 after purchasing an additional 348,751 shares during the period. Geode Capital Management LLC boosted its stake in Blackstone by 2.3% during 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 buying an additional 336,308 shares during the period. Wulff Hansen & CO. increased its position in shares of Blackstone by 12,192.7% during the second quarter. Wulff Hansen & CO. now owns 7,340,845 shares of the asset manager’s stock valued at $908,797,000 after acquiring an additional 7,281,128 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Blackstone by 2.3% during the 2nd quarter. Legal & General Group Plc now owns 6,266,207 shares of the asset manager’s stock worth $775,758,000 after purchasing an additional 141,616 shares during the period. Finally, International Assets Investment Management LLC increased its holdings in Blackstone by 15,357.3% in the 3rd quarter. International Assets Investment Management LLC now owns 4,201,150 shares of the asset manager’s stock valued at $6,433,220,000 after purchasing an additional 4,173,971 shares during the last quarter. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Blackstone

In related news, insider John G. Finley sold 42,249 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $175.94, for a total value of $7,433,289.06. Following the transaction, the insider now owns 387,137 shares in the company, valued at $68,112,883.78. The trade was a 9.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.00% of the company’s stock.

Blackstone Stock Performance

Shares of Blackstone stock opened at $169.27 on Wednesday. The firm’s 50 day moving average is $180.70 and its two-hundred day moving average is $157.59. Blackstone Inc. has a 52 week low of $114.88 and a 52 week high of $200.96. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $122.21 billion, a P/E ratio of 58.17, a P/E/G ratio of 1.63 and a beta of 1.53.

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

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Monday, October 28th were paid a $0.86 dividend. The ex-dividend date was Monday, October 28th. This represents a $3.44 dividend on an annualized basis and a yield of 2.03%. This is a boost from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s payout ratio is currently 118.21%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods dropped their price objective on Blackstone from $175.00 to $174.00 and set a “market perform” rating for the company in a research note on Monday. StockNews.com upgraded shares of Blackstone from a “hold” rating to a “buy” rating in a research note on Thursday, January 9th. Bank of America lifted their price objective on shares of Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a report on Friday, October 18th. The Goldman Sachs Group raised their price target on shares of Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Finally, Evercore ISI increased their price objective on Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Twelve investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $169.56.

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.