Flagship Wealth Advisors LLC purchased a new position in Blackstone Inc. (NYSE:BX - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,822 shares of the asset manager's stock, valued at approximately $314,000.
Other institutional investors have also modified their holdings of the company. Signature Estate & Investment Advisors LLC boosted its stake in Blackstone by 23.6% in the third quarter. Signature Estate & Investment Advisors LLC now owns 3,918 shares of the asset manager's stock valued at $600,000 after acquiring an additional 748 shares in the last quarter. Empirical Finance LLC raised its holdings in Blackstone by 55.8% during the third quarter. Empirical Finance LLC now owns 4,272 shares of the asset manager's stock worth $654,000 after purchasing an additional 1,530 shares in the last quarter. Empowered Funds LLC raised its holdings in Blackstone by 12.5% during the third quarter. Empowered Funds LLC now owns 29,148 shares of the asset manager's stock worth $4,463,000 after purchasing an additional 3,236 shares in the last quarter. Natixis Advisors LLC raised its holdings in Blackstone by 61.4% during the third quarter. Natixis Advisors LLC now owns 329,139 shares of the asset manager's stock worth $50,401,000 after purchasing an additional 125,264 shares in the last quarter. Finally, Sather Financial Group Inc increased its holdings in Blackstone by 202.5% in the third quarter. Sather Financial Group Inc now owns 6,050 shares of the asset manager's stock valued at $926,000 after buying an additional 4,050 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company's stock.
Insider Buying and Selling
In other news, Director Ruth Porat acquired 301 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The stock was bought at an average price of $164.85 per share, with a total value of $49,619.85. Following the acquisition, the director now owns 36,829 shares in the company, valued at $6,071,260.65. The trade was a 0.82 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.00% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
Several analysts have recently commented on the stock. StockNews.com lowered shares of Blackstone from a "buy" rating to a "hold" rating in a research report on Friday, January 31st. Wells Fargo & Company lowered their price objective on shares of Blackstone from $195.00 to $180.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 14th. Keefe, Bruyette & Woods lifted their target price on shares of Blackstone from $174.00 to $177.00 and gave the company a "market perform" rating in a report on Friday, January 31st. Piper Sandler boosted their price objective on shares of Blackstone from $168.00 to $179.00 and gave the stock a "neutral" rating in a report on Monday, December 23rd. Finally, Citigroup restated a "hold" rating on shares of Blackstone in a research note on Friday, February 7th. 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, the stock currently has a consensus rating of "Hold" and a consensus price target of $172.38.
Check Out Our Latest Report on BX
Blackstone Stock Performance
Shares of NYSE:BX traded up $3.47 on Wednesday, hitting $149.66. The company had a trading volume of 2,210,571 shares, compared to its average volume of 3,255,313. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. The stock has a 50 day moving average price of $164.85 and a 200 day moving average price of $167.29. Blackstone Inc. has a 1-year low of $115.82 and a 1-year high of $200.96. The stock has a market cap of $109.17 billion, a price-to-earnings ratio of 41.43, a P/E/G ratio of 1.07 and a beta of 1.55.
Blackstone (NYSE:BX - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 earnings per share for the quarter, topping 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%. Analysts expect that Blackstone Inc. will post 5.87 EPS for the current year.
Blackstone Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th were given a dividend of $1.44 per share. This is an increase from Blackstone's previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.76 annualized dividend and a dividend yield of 3.85%. Blackstone's dividend payout ratio (DPR) is 158.68%.
Blackstone Profile
(
Free Report)
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.
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