Trek Financial LLC Makes New $849,000 Investment in Blackstone Inc. (NYSE:BX)

Trek Financial LLC purchased a new position in shares of Blackstone Inc. (NYSE:BX) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 4,922 shares of the asset manager’s stock, valued at approximately $849,000.

A number of other hedge funds have also added to or reduced their stakes in the company. Bangor Savings Bank increased its stake in shares of Blackstone by 187.5% in the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 105 shares during the last quarter. Hager Investment Management Services LLC acquired a new position in Blackstone during the fourth quarter worth about $28,000. Centricity Wealth Management LLC acquired a new stake in shares of Blackstone in the 4th quarter valued at approximately $30,000. Murphy & Mullick Capital Management Corp bought a new stake in shares of Blackstone during the 4th quarter valued at approximately $33,000. Finally, Berbice Capital Management LLC bought a new position in Blackstone in the 4th quarter valued at approximately $34,000. 70.00% of the stock is owned by institutional investors.

Blackstone Price Performance

Shares of BX opened at $124.68 on Monday. The firm has a market cap of $90.94 billion, a PE ratio of 34.35, a price-to-earnings-growth ratio of 1.07 and a beta of 1.61. Blackstone Inc. has a 52-week low of $115.24 and a 52-week high of $200.96. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67. The business’s 50 day moving average price is $156.29 and its two-hundred day moving average price is $167.20.

Blackstone (NYSE:BX) last posted its quarterly earnings results on Thursday, January 30th. The asset manager reported $1.69 EPS for the quarter, topping analysts’ consensus estimates 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 analysts anticipate that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were paid a $1.44 dividend. This represents a $5.76 dividend on an annualized basis and a yield of 4.62%. 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 158.68%.

Analyst Ratings Changes

Several brokerages have recently issued reports on BX. Keefe, Bruyette & Woods upped their price target on shares of Blackstone from $174.00 to $177.00 and gave the stock a “market perform” rating in a report on Friday, January 31st. JPMorgan Chase & Co. increased their target price on Blackstone from $149.00 to $154.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Citigroup reaffirmed a “hold” rating on shares of Blackstone in a research note on Friday, February 7th. Piper Sandler lifted their target price on shares of Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a research report on Monday, December 23rd. Finally, 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. Twelve analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Blackstone currently has a consensus rating of “Hold” and a consensus target price of $172.06.

Insider Transactions at Blackstone

In other Blackstone news, Director Ruth Porat bought 301 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were bought at an average price of $164.85 per share, for a total transaction of $49,619.85. Following the acquisition, the director now directly owns 36,829 shares of the company’s stock, valued at approximately $6,071,260.65. The trade was a 0.82 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is owned by insiders.

Blackstone 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.