Lindbrook Capital LLC Purchases 5,577 Shares of Blackstone Inc. (NYSE:BX)

Lindbrook Capital LLC grew its position in shares of Blackstone Inc. (NYSE:BX) by 97.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,320 shares of the asset manager’s stock after buying an additional 5,577 shares during the quarter. Lindbrook Capital LLC’s holdings in Blackstone were worth $1,952,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the company. Van ECK Associates Corp raised its holdings in shares of Blackstone by 19.4% in the 3rd quarter. Van ECK Associates Corp now owns 20,094 shares of the asset manager’s stock worth $3,355,000 after purchasing an additional 3,271 shares during the period. Robeco Institutional Asset Management B.V. raised its holdings in shares of Blackstone by 27.5% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 17,438 shares of the asset manager’s stock worth $2,670,000 after purchasing an additional 3,762 shares during the period. Catalyst Capital Advisors LLC bought a new stake in shares of Blackstone in the 3rd quarter worth approximately $68,000. Pittenger & Anderson Inc. raised its holdings in shares of Blackstone by 4.5% in the 3rd quarter. Pittenger & Anderson Inc. now owns 14,970 shares of the asset manager’s stock worth $2,292,000 after purchasing an additional 645 shares during the period. Finally, JFG Wealth Management LLC raised its holdings in shares of Blackstone by 11.4% in the 3rd quarter. JFG Wealth Management LLC now owns 2,356 shares of the asset manager’s stock worth $361,000 after purchasing an additional 242 shares during the period. Institutional investors own 70.00% of the company’s stock.

Blackstone Stock Performance

Blackstone stock opened at $152.08 on Thursday. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $109.80 billion, a PE ratio of 41.90, a P/E/G ratio of 1.07 and a beta of 1.55. The firm has a fifty day simple moving average of $170.52 and a two-hundred day simple moving average of $166.84. Blackstone Inc. has a twelve month low of $115.82 and a twelve month high of $200.96.

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

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th were paid a dividend of $1.44 per share. This represents a $5.76 annualized dividend and a dividend yield of 3.79%. This is an increase from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Monday, February 10th. Blackstone’s dividend payout ratio is 158.68%.

Insider Activity

In related news, Director Ruth Porat purchased 301 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was bought at an average cost of $164.85 per share, with a total value of $49,619.85. Following the completion of the purchase, the director now directly owns 36,829 shares in the company, valued at approximately $6,071,260.65. This represents a 0.82 % increase 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.

Analyst Ratings Changes

A number of research firms recently weighed in on BX. StockNews.com lowered shares of Blackstone from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Barclays restated an “equal weight” rating on shares of Blackstone in a research report on Friday, February 7th. JPMorgan Chase & Co. upped their target price on shares of Blackstone from $149.00 to $154.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. 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 research report on Monday, November 11th. Finally, UBS Group reiterated a “neutral” rating on shares of Blackstone in a research report on Monday. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Blackstone presently has an average rating of “Hold” and a consensus target price of $172.38.

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.