Kensington Investment Counsel LLC Has $2.35 Million Stock Position in Blackstone Inc. (NYSE:BX)

Kensington Investment Counsel LLC boosted its stake in Blackstone Inc. (NYSE:BX) by 80.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 13,639 shares of the asset manager’s stock after buying an additional 6,080 shares during the period. Kensington Investment Counsel LLC’s holdings in Blackstone were worth $2,352,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of BX. Bangor Savings Bank grew its position in shares of 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 in the last quarter. Hager Investment Management Services LLC acquired a new position in shares of Blackstone during the 4th quarter worth approximately $28,000. Centricity Wealth Management LLC acquired a new position in shares of Blackstone during the 4th quarter worth approximately $30,000. Roxbury Financial LLC acquired a new position in shares of Blackstone during the 4th quarter worth approximately $34,000. Finally, Berbice Capital Management LLC acquired a new position in shares of Blackstone during the 4th quarter worth approximately $34,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Trading Up 4.8 %

BX opened at $147.67 on Tuesday. Blackstone Inc. has a twelve month low of $115.82 and a twelve month high of $200.96. 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 fifty day moving average of $165.35 and a 200-day moving average of $167.26. The stock has a market cap of $107.72 billion, a PE ratio of 40.68, a price-to-earnings-growth ratio of 1.07 and a beta of 1.55.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 earnings per share for the quarter, topping 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%. On average, sell-side analysts predict that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were issued a $1.44 dividend. This represents a $5.76 dividend on an annualized basis and a yield of 3.90%. This is a boost from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date was Monday, February 10th. Blackstone’s dividend payout ratio (DPR) is presently 158.68%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on BX shares. Wells Fargo & Company decreased their target price on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. Barclays reaffirmed an “equal weight” rating on shares of Blackstone in a report on Friday, February 7th. UBS Group raised shares of Blackstone from a “neutral” rating to a “buy” rating and set a $180.00 price target for the company in a report on Monday. 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. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Blackstone from $174.00 to $177.00 and gave the company a “market perform” rating in a research note on Friday, January 31st. Twelve research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $172.38.

Insiders Place Their Bets

In related news, Director Ruth Porat purchased 301 shares of Blackstone stock in a transaction on Tuesday, February 18th. The stock was acquired at an average cost of $164.85 per share, for a total transaction of $49,619.85. Following the completion of the acquisition, the director now owns 36,829 shares of the company’s stock, valued at $6,071,260.65. This trade represents a 0.82 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.00% of the company’s stock.

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.