Everence Capital Management Inc. Has $1.25 Million Stock Holdings in Blackstone Inc. (NYSE:BX)

Everence Capital Management Inc. raised its holdings in Blackstone Inc. (NYSE:BX) by 120.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,510 shares of the asset manager’s stock after purchasing an additional 5,190 shares during the quarter. Everence Capital Management Inc.’s holdings in Blackstone were worth $1,245,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Coppell Advisory Solutions LLC bought a new position in shares of Blackstone in the 2nd quarter valued at $25,000. Bourgeon Capital Management LLC raised its position in Blackstone by 86.2% during the 4th quarter. Bourgeon Capital Management LLC now owns 216 shares of the asset manager’s stock worth $28,000 after purchasing an additional 100 shares during the last quarter. Exchange Traded Concepts LLC raised its position in 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 purchasing an additional 206 shares during the last quarter. DHJJ Financial Advisors Ltd. bought a new position in Blackstone during the 3rd quarter worth $33,000. Finally, Family CFO Inc bought a new position in Blackstone during the 3rd quarter worth $33,000. 70.00% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on BX shares. Bank of America raised their target price on Blackstone from $146.00 to $147.00 and gave the stock a “buy” rating in a research report on Monday, March 4th. Oppenheimer lowered Blackstone from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 11th. Barclays lifted their price objective on Blackstone from $126.00 to $129.00 and gave the stock an “equal weight” rating in a research report on Monday, April 8th. TD Cowen began coverage on Blackstone in a research report on Thursday, January 4th. They issued a “market perform” rating and a $118.00 price objective for the company. Finally, Citigroup lowered Blackstone from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $116.00 to $124.00 in a research report on Friday, January 19th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $119.92.

Blackstone Price Performance

BX stock opened at $121.88 on Wednesday. The company has a market capitalization of $87.10 billion, a P/E ratio of 66.61, a price-to-earnings-growth ratio of 0.99 and a beta of 1.51. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.80 and a current ratio of 0.80. Blackstone Inc. has a 52-week low of $79.92 and a 52-week high of $133.56. The business has a 50-day simple moving average of $126.87 and a two-hundred day simple moving average of $117.60.

Blackstone (NYSE:BX) last released its quarterly earnings results on Thursday, January 25th. The asset manager reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.16. Blackstone had a return on equity of 17.30% and a net margin of 17.34%. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $2.48 billion. During the same quarter in the previous year, the business earned $1.07 EPS. Research analysts expect that Blackstone Inc. will post 4.88 EPS for the current fiscal year.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 12th. Shareholders of record on Monday, February 5th were given a dividend of $0.94 per share. The ex-dividend date was Friday, February 2nd. This represents a $3.76 annualized dividend and a dividend yield of 3.09%. This is a boost from Blackstone’s previous quarterly dividend of $0.80. Blackstone’s dividend payout ratio (DPR) is currently 205.46%.

Insiders Place Their Bets

In related news, Director Joseph Baratta sold 28,852 shares of Blackstone stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $128.05, for a total value of $3,694,498.60. Following the sale, the director now owns 982,221 shares of the company’s stock, valued at approximately $125,773,399.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Blackstone news, insider John G. Finley sold 49,000 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $127.93, for a total transaction of $6,268,570.00. Following the sale, the insider now owns 393,143 shares of the company’s stock, valued at approximately $50,294,783.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Joseph Baratta sold 28,852 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $128.05, for a total transaction of $3,694,498.60. Following the sale, the director now directly owns 982,221 shares in the company, valued at approximately $125,773,399.05. The disclosure for this sale can be found here. Insiders have sold a total of 2,587,168 shares of company stock valued at $37,816,476 in the last 90 days. 1.00% of the stock is currently owned by corporate 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.