ORG Partners LLC Increases Stake in Blackstone Inc. (NYSE:BX)

ORG Partners LLC grew its position in shares of Blackstone Inc. (NYSE:BX) by 232.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 279 shares of the asset manager’s stock after purchasing an additional 195 shares during the quarter. ORG Partners LLC’s holdings in Blackstone were worth $48,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in BX. Bangor Savings Bank grew its position 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 acquiring an additional 105 shares during the period. West Financial Advisors LLC acquired a new stake in Blackstone in the third quarter valued at approximately $27,000. 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 buying an additional 62 shares during the period. Hazlett Burt & Watson Inc. grew its stake in Blackstone by 57.7% in the 3rd 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 during the period. Finally, Strategic Investment Solutions Inc. IL acquired a new position in Blackstone during the second quarter worth $39,000. 70.00% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Blackstone

In other news, insider John G. Finley sold 42,249 shares of Blackstone stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $175.94, for a total value of $7,433,289.06. Following the completion of the transaction, the insider now owns 387,137 shares in the company, valued at approximately $68,112,883.78. This trade represents a 9.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.00% of the stock is currently owned by company insiders.

Blackstone Stock Down 5.2 %

Blackstone stock opened at $165.00 on Friday. Blackstone Inc. has a fifty-two week low of $114.88 and a fifty-two week high of $200.96. The firm has a 50 day moving average price of $180.73 and a 200 day moving average price of $156.75. The company has a market capitalization of $119.13 billion, a PE ratio of 56.70, a price-to-earnings-growth ratio of 1.63 and a beta of 1.53. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71.

Blackstone (NYSE:BX) last announced its earnings results on Thursday, October 17th. The asset manager reported $1.01 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $2.37 billion. Research analysts expect that Blackstone Inc. will post 4.43 earnings per share for the current year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Monday, October 28th were given a dividend of $0.86 per share. The ex-dividend date of this dividend was Monday, October 28th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.08%. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s dividend payout ratio is currently 118.21%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on BX shares. Wells Fargo & Company downgraded shares of Blackstone from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $188.00 to $195.00 in a research report on Thursday, December 12th. The Goldman Sachs Group raised their target price on Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Evercore ISI increased their price objective on Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Finally, UBS Group boosted their price target on shares of Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Twelve equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $171.00.

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.