Lindbrook Capital LLC Has $1.95 Million Position in Blackstone Inc. (NYSE:BX)

Lindbrook Capital LLC boosted its holdings in shares of Blackstone Inc. (NYSE:BX) by 97.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,320 shares of the asset manager’s stock after purchasing an additional 5,577 shares during the period. Lindbrook Capital LLC’s holdings in Blackstone were worth $1,952,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bangor Savings Bank lifted its stake in Blackstone by 187.5% during the fourth 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. Hager Investment Management Services LLC bought a new stake in Blackstone during the fourth quarter worth $28,000. Centricity Wealth Management LLC bought a new stake in Blackstone during the fourth quarter worth $30,000. Berbice Capital Management LLC bought a new position in shares of Blackstone in the 4th quarter valued at $34,000. Finally, Comprehensive Financial Planning Inc. PA bought a new position in shares of Blackstone in the 4th quarter valued at $34,000. 70.00% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on BX. Wells Fargo & Company dropped their price target on Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. Piper Sandler increased their price target on Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a research note on Monday, December 23rd. Deutsche Bank Aktiengesellschaft increased their price target on Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. raised their target price on Blackstone from $149.00 to $154.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Finally, BMO Capital Markets raised their target price on Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a research report on Thursday, December 19th. Thirteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $172.38.

Blackstone Stock Performance

Shares of Blackstone stock opened at $152.08 on Thursday. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. The business has a 50-day moving average price of $170.52 and a two-hundred day moving average price of $166.84. Blackstone Inc. has a 1-year low of $115.82 and a 1-year high of $200.96. The company has a market cap of $109.80 billion, a P/E ratio of 41.90, a PEG ratio of 1.07 and a beta of 1.55.

Blackstone (NYSE:BX) last issued its earnings results 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%. As a group, analysts anticipate that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th were paid a $1.44 dividend. The ex-dividend date was Monday, February 10th. This is an increase from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 annualized dividend and a dividend yield of 3.79%. Blackstone’s dividend payout ratio (DPR) is currently 158.68%.

Insider Activity

In related news, Director Ruth Porat purchased 301 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was acquired at an average price of $164.85 per share, for a total transaction of $49,619.85. Following the purchase, the director now owns 36,829 shares of the company’s stock, valued at approximately $6,071,260.65. This trade represents a 0.82 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.00% of the stock is currently owned by company insiders.

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.