HUB Investment Partners LLC Cuts Position in Blackstone Inc. (NYSE:BX)

HUB Investment Partners LLC trimmed its position in Blackstone Inc. (NYSE:BX) by 0.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,601 shares of the asset manager’s stock after selling 108 shares during the quarter. HUB Investment Partners LLC’s holdings in Blackstone were worth $2,000,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Bangor Savings Bank raised its holdings in shares of Blackstone by 187.5% during the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after buying an additional 105 shares during the period. Hager Investment Management Services LLC purchased a new stake in shares of Blackstone during the 4th quarter valued at about $28,000. Centricity Wealth Management LLC purchased a new stake in shares of Blackstone during the 4th quarter valued at about $30,000. Berbice Capital Management LLC purchased a new stake in shares of Blackstone during the 4th quarter valued at about $34,000. Finally, Comprehensive Financial Planning Inc. PA purchased a new stake in shares of Blackstone during the 4th quarter valued at about $34,000. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Blackstone

In other Blackstone news, Director Ruth Porat bought 301 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were purchased at an average price of $164.85 per share, with a total value of $49,619.85. Following the purchase, 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 ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 1.00% of the stock is owned by company insiders.

Blackstone Trading Down 0.7 %

NYSE:BX opened at $148.72 on Friday. Blackstone Inc. has a 12-month low of $115.82 and a 12-month high of $200.96. The firm has a market capitalization of $108.48 billion, a P/E ratio of 40.97, 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. The business has a 50 day simple moving average of $163.86 and a 200 day simple moving average of $167.04.

Blackstone (NYSE:BX) last released its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.19. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. Equities research analysts predict that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were paid a dividend of $1.44 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.76 annualized dividend and a yield of 3.87%. This is an increase from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s payout ratio is presently 158.68%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. TD Cowen upgraded Blackstone from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $149.00 to $230.00 in a report on Monday, December 9th. Citigroup restated a “hold” rating on shares of Blackstone in a report on Friday, February 7th. Piper Sandler lifted their price objective on Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a report on Monday, December 23rd. Keefe, Bruyette & Woods lifted their price objective on Blackstone from $174.00 to $177.00 and gave the stock a “market perform” rating in a report on Friday, January 31st. Finally, Wells Fargo & Company dropped their price objective on Blackstone from $180.00 to $160.00 and set an “equal weight” rating on the stock in a report on Thursday. Twelve investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $171.13.

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.