Hoxton Planning & Management LLC Takes $228,000 Position in Blackstone Inc. (NYSE:BX)

Hoxton Planning & Management LLC acquired a new stake in Blackstone Inc. (NYSE:BX) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,739 shares of the asset manager’s stock, valued at approximately $228,000.

Several other institutional investors and hedge funds have also made changes to their positions in BX. Exchange Traded Concepts LLC grew its position in shares of Blackstone by 763.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 233 shares of the asset manager’s stock worth $31,000 after buying an additional 206 shares in the last quarter. Bruce G. Allen Investments LLC purchased a new position in Blackstone during the 4th quarter valued at about $33,000. Coppell Advisory Solutions LLC purchased a new stake in shares of Blackstone in the 2nd quarter worth approximately $25,000. Family CFO Inc purchased a new position in Blackstone during the third quarter valued at approximately $33,000. Finally, DHJJ Financial Advisors Ltd. purchased a new stake in Blackstone during the third quarter worth $33,000. 70.00% of the stock is currently owned by institutional investors.

Blackstone Trading Down 1.9 %

NYSE BX opened at $121.18 on Tuesday. The company has a fifty day moving average of $126.90 and a 200 day moving average of $117.50. The company has a market capitalization of $86.60 billion, a PE ratio of 66.22, a P/E/G ratio of 1.01 and a beta of 1.51. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.80 and a quick ratio of 0.80. Blackstone Inc. has a 1 year low of $79.92 and a 1 year high of $133.56.

Blackstone (NYSE:BX) last announced 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 company had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $2.48 billion. During the same period last year, the business earned $1.07 earnings per share. Research analysts forecast that Blackstone Inc. will post 4.89 earnings per share for the current year.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 12th. Stockholders of record on Monday, February 5th were given a dividend of $0.94 per share. The ex-dividend date of this dividend was Friday, February 2nd. This is a boost from Blackstone’s previous quarterly dividend of $0.80. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.10%. Blackstone’s dividend payout ratio (DPR) is 205.46%.

Wall Street Analysts Forecast Growth

BX has been the subject of a number of analyst reports. Wells Fargo & Company upped their price objective on Blackstone from $127.00 to $130.00 and gave the stock an “overweight” rating in a research note on Monday, January 22nd. Oppenheimer cut shares of Blackstone from an “outperform” rating to a “market perform” rating in a report on Thursday, January 11th. UBS Group increased their target price on shares of Blackstone from $135.00 to $138.00 and gave the company a “neutral” rating in a research report on Friday. Morgan Stanley upped their price target on Blackstone from $120.00 to $144.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 24th. Finally, BMO Capital Markets boosted their target price on Blackstone from $95.00 to $101.00 and gave the stock a “market perform” rating in a research note on Friday, January 26th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Blackstone has an average rating of “Hold” and a consensus target price of $119.92.

Insider Buying and Selling

In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of Blackstone stock in a transaction on Sunday, March 3rd. The shares were sold at an average price of $11.10, for a total value of $27,853,407.60. Following the sale, the insider now owns 12,802 shares of the company’s stock, valued at approximately $142,102.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Blackstone news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the business’s stock in a transaction that occurred on Sunday, March 3rd. The stock was sold at an average price of $11.10, for a total transaction of $27,853,407.60. Following the completion of the sale, the insider now directly owns 12,802 shares in the company, valued at approximately $142,102.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider John G. Finley sold 49,000 shares of Blackstone stock in a transaction on 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 sale, the insider now directly owns 393,143 shares in the company, valued at approximately $50,294,783.99. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,587,168 shares of company stock valued at $37,816,476. 1.00% of the stock is owned by company 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.