Bourgeon Capital Management LLC Increases Position in Blackstone Inc. (NYSE:BX)

Bourgeon Capital Management LLC lifted its stake in shares of Blackstone Inc. (NYSE:BX) by 86.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 216 shares of the asset manager’s stock after purchasing an additional 100 shares during the period. Bourgeon Capital Management LLC’s holdings in Blackstone were worth $28,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BX. Fairfield Bush & CO. boosted its holdings in shares of Blackstone by 56.1% in the 1st quarter. Fairfield Bush & CO. now owns 4,255 shares of the asset manager’s stock valued at $540,000 after buying an additional 1,530 shares during the period. United Bank grew its holdings in shares of Blackstone by 34.2% during the first quarter. United Bank now owns 8,441 shares of the asset manager’s stock valued at $1,072,000 after purchasing an additional 2,153 shares during the last quarter. Yousif Capital Management LLC lifted its holdings in shares of Blackstone by 10.4% in the 1st quarter. Yousif Capital Management LLC now owns 10,969 shares of the asset manager’s stock worth $1,392,000 after purchasing an additional 1,034 shares during the last quarter. Insight Advisors LLC PA grew its stake in Blackstone by 1.6% during the 1st quarter. Insight Advisors LLC PA now owns 18,446 shares of the asset manager’s stock worth $2,341,000 after buying an additional 286 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. lifted its stake in Blackstone by 12.8% in the first quarter. Candriam Luxembourg S.C.A. now owns 38,429 shares of the asset manager’s stock valued at $4,878,000 after buying an additional 4,366 shares during the last quarter. 70.00% of the stock is owned by institutional investors.

Insider Buying and Selling at Blackstone

In other news, insider John G. Finley sold 49,000 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $127.93, for a total transaction of $6,268,570.00. Following the completion of the sale, the insider now directly owns 393,143 shares of the company’s stock, valued at approximately $50,294,783.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider John G. Finley sold 49,000 shares of Blackstone stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $127.93, for a total value of $6,268,570.00. Following the completion of the sale, the insider now owns 393,143 shares of the company’s stock, valued at approximately $50,294,783.99. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ruth Porat bought 232 shares of the business’s stock in a transaction on Monday, February 12th. The shares were bought at an average price of $127.08 per share, for a total transaction of $29,482.56. Following the completion of the acquisition, the director now owns 34,225 shares of the company’s stock, valued at $4,349,313. The disclosure for this purchase can be found here. Insiders sold 2,587,168 shares of company stock valued at $37,816,476 in the last quarter. Company insiders own 1.00% of the company’s stock.

Blackstone Trading Down 0.1 %

NYSE BX opened at $121.00 on Tuesday. The firm’s 50 day moving average price is $126.90 and its two-hundred day moving average price is $117.50. The stock has a market cap of $86.47 billion, a price-to-earnings ratio of 66.22, a PEG ratio of 1.01 and a beta of 1.51. Blackstone Inc. has a twelve month low of $79.92 and a twelve month high of $133.56. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.80 and a current ratio of 0.80.

Blackstone (NYSE:BX) last posted its quarterly earnings results on Thursday, January 25th. The asset manager reported $1.11 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.16. Blackstone had a return on equity of 17.30% and a net margin of 17.34%. The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $2.48 billion. During the same period in the previous year, the firm earned $1.07 earnings per share. Equities analysts anticipate that Blackstone Inc. will post 4.89 EPS for the current year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 12th. Shareholders of record on Monday, February 5th were paid a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 3.11%. The ex-dividend date of this dividend was Friday, February 2nd. This is a positive change from Blackstone’s previous quarterly dividend of $0.80. Blackstone’s dividend payout ratio is currently 205.46%.

Analysts Set New Price Targets

BX has been the topic of several recent research reports. The Goldman Sachs Group downgraded shares of Blackstone from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $115.00 to $128.00 in a research report on Wednesday, January 3rd. BMO Capital Markets increased their price objective on Blackstone from $95.00 to $101.00 and gave the stock a “market perform” rating in a report on Friday, January 26th. Bank of America lifted their target price on Blackstone from $146.00 to $147.00 and gave the company a “buy” rating in a research note on Monday, March 4th. UBS Group raised their price target on Blackstone from $135.00 to $138.00 and gave the company a “neutral” rating in a report on Friday. Finally, TD Cowen began coverage on shares of Blackstone in a research report on Thursday, January 4th. They issued a “market perform” rating and a $118.00 target price for the company. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Blackstone currently has an average rating of “Hold” and a consensus price target of $119.92.

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.