Runnymede Capital Advisors Inc. Buys New Shares in Blackstone Inc. (NYSE:BX)

Runnymede Capital Advisors Inc. bought a new stake in Blackstone Inc. (NYSE:BX) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 19,773 shares of the asset manager’s stock, valued at approximately $3,409,000. Blackstone accounts for about 3.0% of Runnymede Capital Advisors Inc.’s portfolio, making the stock its 11th largest position.

Several other hedge funds have also recently made changes to their positions in the company. Glen Eagle Advisors LLC boosted its stake in shares of Blackstone by 1.8% during the 3rd quarter. Glen Eagle Advisors LLC now owns 3,251 shares of the asset manager’s stock worth $498,000 after acquiring an additional 59 shares in the last quarter. Avidian Wealth Enterprises LLC boosted its stake in shares of Blackstone by 0.4% during the 4th quarter. Avidian Wealth Enterprises LLC now owns 16,184 shares of the asset manager’s stock worth $2,790,000 after acquiring an additional 59 shares in the last quarter. Investmark Advisory Group LLC boosted its stake in shares of Blackstone by 2.4% during the 3rd quarter. Investmark Advisory Group LLC now owns 2,608 shares of the asset manager’s stock worth $399,000 after acquiring an additional 60 shares in the last quarter. McIlrath & Eck LLC boosted its stake in shares of Blackstone by 6.5% during the 3rd quarter. McIlrath & Eck LLC now owns 1,019 shares of the asset manager’s stock worth $156,000 after acquiring an additional 62 shares in the last quarter. Finally, McAdam LLC boosted its stake in shares of Blackstone by 3.9% during the 4th quarter. McAdam LLC now owns 1,687 shares of the asset manager’s stock worth $291,000 after acquiring an additional 63 shares in the last quarter. 70.00% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Keefe, Bruyette & Woods raised their price target 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. Piper Sandler raised their price target on shares of Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a research note on Monday, December 23rd. TD Cowen raised shares of Blackstone from a “hold” rating to a “buy” rating and raised their price target for the company from $149.00 to $230.00 in a research note on Monday, December 9th. Citigroup reaffirmed a “hold” rating on shares of Blackstone in a research note on Friday, February 7th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Blackstone from $149.00 to $154.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Twelve equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $171.13.

Insider Buying and Selling at Blackstone

In other news, Director Ruth Porat acquired 301 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was acquired at an average cost of $164.85 per share, with a total value of $49,619.85. Following the transaction, the director now owns 36,829 shares in the company, 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 corporate insiders.

Blackstone Stock Down 0.1 %

Shares of NYSE BX opened at $148.65 on Friday. The company has a 50 day simple moving average of $163.53 and a 200-day simple moving average of $167.08. The company has a market capitalization of $108.43 billion, a P/E ratio of 40.95, a P/E/G ratio of 1.07 and a beta of 1.55. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71. Blackstone Inc. has a 1 year low of $115.82 and a 1 year high of $200.96.

Blackstone (NYSE:BX) last posted its earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share 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%. On average, equities research analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were given a $1.44 dividend. This represents a $5.76 annualized dividend and a yield of 3.87%. The ex-dividend date was Monday, February 10th. This is a boost from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s dividend payout ratio (DPR) is currently 158.68%.

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.