Fulton Bank N.A. Purchases 103 Shares of Blackstone Inc. (NYSE:BX)

Fulton Bank N.A. raised its holdings in Blackstone Inc. (NYSE:BX) by 0.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of BX. Bangor Savings Bank boosted its stake in Blackstone by 187.5% in the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock worth $28,000 after buying an additional 105 shares in the last quarter. West Financial Advisors LLC bought a new stake in shares of Blackstone during the third quarter valued at approximately $27,000. Raleigh Capital Management Inc. raised its holdings in Blackstone by 32.1% in the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after purchasing an additional 62 shares in the last quarter. Hazlett Burt & Watson Inc. boosted its holdings in shares of Blackstone by 57.7% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 276 shares of the asset manager’s stock valued at $43,000 after buying an additional 101 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in Blackstone in the second quarter worth about $39,000. 70.00% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on BX. Deutsche Bank Aktiengesellschaft upped their price target on Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. The Goldman Sachs Group upped their price target on shares of Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Evercore ISI lifted their target price on shares of Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Bank of America raised their price target on Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a report on Friday, October 18th. Finally, BMO Capital Markets increased their target price on Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a research report on Thursday, December 19th. Fourteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $171.00.

Insider Activity

In other Blackstone news, insider John G. Finley sold 42,249 shares of the stock in a transaction on 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 sale, the insider now owns 387,137 shares in the company, valued at $68,112,883.78. This trade represents a 9.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.00% of the company’s stock.

Blackstone Stock Up 1.6 %

Shares of NYSE:BX opened at $174.06 on Thursday. Blackstone Inc. has a 12 month low of $114.88 and a 12 month high of $200.96. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The company has a 50-day moving average price of $180.67 and a 200 day moving average price of $156.12. The company has a market cap of $125.67 billion, a price-to-earnings ratio of 59.81, a PEG ratio of 1.63 and a beta of 1.53.

Blackstone (NYSE:BX) last released its quarterly earnings results on Thursday, October 17th. The asset manager reported $1.01 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $2.37 billion. As a group, equities research analysts predict that Blackstone Inc. will post 4.43 earnings per share for the current year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Monday, October 28th were paid a $0.86 dividend. The ex-dividend date of this dividend was Monday, October 28th. This represents a $3.44 annualized dividend and a yield of 1.98%. This is an increase from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s dividend payout ratio (DPR) is presently 118.21%.

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.