TFB Advisors LLC Has $1.13 Million Position in Blackstone Inc. (NYSE:BX)

TFB Advisors LLC grew its holdings in Blackstone Inc. (NYSE:BX) by 15.5% during the 4th quarter, HoldingsChannel reports. The firm owned 6,572 shares of the asset manager’s stock after acquiring an additional 880 shares during the quarter. TFB Advisors LLC’s holdings in Blackstone were worth $1,133,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in BX. Bangor Savings Bank grew its position in Blackstone by 187.5% during 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. Hager Investment Management Services LLC acquired a new stake in Blackstone during the fourth quarter worth about $28,000. Berbice Capital Management LLC acquired a new stake in Blackstone during the fourth quarter worth about $34,000. Comprehensive Financial Planning Inc. PA acquired a new stake in Blackstone during the fourth quarter worth about $34,000. Finally, Raleigh Capital Management Inc. boosted its holdings in Blackstone by 32.1% during the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock valued at $39,000 after purchasing an additional 62 shares in the last quarter. 70.00% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. BMO Capital Markets lifted their price objective on Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a report on Thursday, December 19th. Citigroup lifted their price objective on Blackstone from $170.00 to $190.00 and gave the company a “neutral” rating in a report on Friday, January 31st. UBS Group lifted their price objective on Blackstone from $170.00 to $180.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, TD Cowen upgraded shares of Blackstone from a “hold” rating to a “buy” rating and lifted their target price for the company from $149.00 to $230.00 in a research note on Monday, December 9th. Thirteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Blackstone currently has a consensus rating of “Hold” and an average price target of $172.38.

Blackstone Price Performance

BX opened at $164.80 on Wednesday. The company has a fifty day moving average price of $177.99 and a two-hundred day moving average price of $164.00. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67. Blackstone Inc. has a 52 week low of $115.82 and a 52 week high of $200.96. The firm has a market capitalization of $118.98 billion, a PE ratio of 45.40, a P/E/G ratio of 1.13 and a beta of 1.53.

Blackstone (NYSE:BX) last released its earnings results on Thursday, January 30th. The asset manager reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.19. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. As a group, analysts anticipate that Blackstone Inc. will post 5.88 earnings per share for the current year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th will be issued a $1.44 dividend. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend is Monday, February 10th. This represents a $5.76 annualized dividend and a dividend yield of 3.50%. Blackstone’s payout ratio is 94.77%.

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.