Fulton Bank N.A. Increases Holdings in Blackstone Inc. (NYSE:BX)

Fulton Bank N.A. raised its position in shares of Blackstone Inc. (NYSE:BX) by 0.9% in the fourth quarter, HoldingsChannel reports. The firm owned 11,202 shares of the asset manager’s stock after acquiring an additional 103 shares during the period. Fulton Bank N.A.’s holdings in Blackstone were worth $1,931,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. West Financial Advisors LLC purchased a new stake in shares of Blackstone during the 3rd quarter worth $27,000. Bangor Savings Bank lifted its position in shares of Blackstone by 187.5% during the fourth 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 last quarter. Strategic Investment Solutions Inc. IL purchased a new position in shares of Blackstone in the 2nd quarter worth approximately $39,000. Raleigh Capital Management Inc. raised its stake in shares of Blackstone by 32.1% during the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after acquiring an additional 62 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. boosted its stake in Blackstone by 57.7% in the third quarter. Hazlett Burt & Watson Inc. now owns 276 shares of the asset manager’s stock valued at $43,000 after acquiring an additional 101 shares in the last quarter. Institutional investors own 70.00% of the company’s stock.

Insiders Place Their Bets

In other news, insider John G. Finley sold 42,249 shares of Blackstone stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the transaction, the insider now owns 387,137 shares in the company, valued at $68,112,883.78. The trade was a 9.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on BX shares. TD Cowen raised Blackstone from a “hold” rating to a “buy” rating and raised their price objective for the stock from $149.00 to $230.00 in a research report on Monday, December 9th. JPMorgan Chase & Co. boosted their price target on Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. StockNews.com downgraded shares of Blackstone from a “buy” rating to a “hold” rating in a research report on Wednesday, January 1st. Morgan Stanley lifted their price objective on shares of Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Finally, UBS Group upped their target price on Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Fourteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Blackstone has an average rating of “Hold” and a consensus target price of $171.00.

Blackstone Price Performance

Blackstone stock opened at $174.06 on Thursday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71. The company’s fifty day moving average price is $180.67 and its 200 day moving average price is $156.12. The stock has a market capitalization of $125.67 billion, a P/E ratio of 59.81, a P/E/G ratio of 1.63 and a beta of 1.53. Blackstone Inc. has a 1 year low of $114.88 and a 1 year high of $200.96.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, October 17th. The asset manager reported $1.01 EPS for the quarter, topping the consensus estimate of $0.91 by $0.10. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. The company had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.37 billion. As a group, equities research analysts anticipate that Blackstone Inc. will post 4.43 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Monday, October 28th were paid a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend was Monday, October 28th. This is a boost from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s dividend payout ratio is currently 118.21%.

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.