SLT Holdings LLC Makes New $223,000 Investment in Blackstone Inc. (NYSE:BX)

SLT Holdings LLC purchased a new position in shares of Blackstone Inc. (NYSE:BX) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,294 shares of the asset manager’s stock, valued at approximately $223,000.

Several other large investors have also recently made changes to their positions in the business. Bangor Savings Bank grew its holdings in shares of Blackstone by 187.5% in 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 position in shares of Blackstone in the fourth quarter worth approximately $28,000. Centricity Wealth Management LLC bought a new position in shares of Blackstone in the fourth quarter worth approximately $30,000. Roxbury Financial LLC bought a new position in shares of Blackstone in the fourth quarter worth approximately $34,000. Finally, Berbice Capital Management LLC bought a new position in shares of Blackstone in the fourth quarter worth approximately $34,000. 70.00% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Blackstone

In related news, Director Ruth Porat acquired 301 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was bought at an average cost of $164.85 per share, for a total transaction of $49,619.85. Following the purchase, the director now owns 36,829 shares in the company, valued at $6,071,260.65. The trade was a 0.82 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.00% of the stock is currently owned by corporate insiders.

Blackstone Price Performance

NYSE BX opened at $145.12 on Friday. Blackstone Inc. has a 52 week low of $115.82 and a 52 week high of $200.96. The firm has a market capitalization of $105.86 billion, a P/E ratio of 39.98, a PEG ratio of 1.07 and a beta of 1.55. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. The company has a 50-day moving average price of $169.33 and a 200-day moving average price of $167.00.

Blackstone (NYSE:BX) last released its quarterly 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 net margin of 20.99% and a return on equity of 19.58%. Equities research analysts anticipate that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 10th were paid a dividend of $1.44 per share. 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 dividend on an annualized basis and a dividend yield of 3.97%. Blackstone’s payout ratio is 158.68%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on BX shares. Piper Sandler lifted their price target on shares of Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a report on Monday, December 23rd. Citigroup reiterated a “hold” rating on shares of Blackstone in a report on Friday, February 7th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a report on Monday, November 11th. JPMorgan Chase & Co. boosted their target price on shares of Blackstone from $149.00 to $154.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Finally, TD Cowen upgraded shares of Blackstone from a “hold” rating to a “buy” rating and boosted their target price for the company from $149.00 to $230.00 in a report on Monday, December 9th. Thirteen investment analysts have rated the stock with a hold rating and six have given 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.

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.