Forefront Wealth Management Inc. acquired a new stake in Blackstone Inc. (NYSE:BX - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The fund acquired 2,013 shares of the asset manager's stock, valued at approximately $347,000.
Several other institutional investors have also recently made changes to their positions in the stock. Sei Investments Co. raised its position in shares of Blackstone by 8.7% in the fourth quarter. Sei Investments Co. now owns 441,877 shares of the asset manager's stock worth $76,188,000 after buying an additional 35,500 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Blackstone by 11.8% during the 4th quarter. American Century Companies Inc. now owns 65,513 shares of the asset manager's stock valued at $11,296,000 after acquiring an additional 6,938 shares during the last quarter. Plancorp LLC increased its position in shares of Blackstone by 5.4% in the fourth quarter. Plancorp LLC now owns 1,663 shares of the asset manager's stock worth $287,000 after purchasing an additional 85 shares during the last quarter. Runnymede Capital Advisors Inc. bought a new stake in Blackstone during the fourth quarter valued at approximately $3,409,000. Finally, Mizuho Securities USA LLC increased its holdings in shares of Blackstone by 46.6% in the 4th quarter. Mizuho Securities USA LLC now owns 68,430 shares of the asset manager's stock worth $11,799,000 after buying an additional 21,737 shares during the last quarter. Hedge funds and other institutional investors own 70.00% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms have weighed in on BX. StockNews.com downgraded Blackstone from a "buy" rating to a "hold" rating in a research report on Friday, January 31st. JPMorgan Chase & Co. boosted their target price on Blackstone from $149.00 to $154.00 and gave the stock a "neutral" rating in a research report on Friday, January 31st. Citigroup restated a "hold" rating on shares of Blackstone in a report on Friday, February 7th. Wells Fargo & Company decreased their target price on shares of Blackstone from $180.00 to $160.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 20th. Finally, TD Cowen raised Blackstone from a "hold" rating to a "buy" rating and raised their price objective for the company from $149.00 to $230.00 in a research note on Monday, December 9th. Twelve equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $171.13.
Check Out Our Latest Report on BX
Blackstone Stock Down 0.8 %
Shares of NYSE BX traded down $1.23 on Tuesday, reaching $150.85. 1,111,805 shares of the company's stock traded hands, compared to its average volume of 3,837,632. 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 cap of $110.03 billion, a price-to-earnings ratio of 41.56, a price-to-earnings-growth ratio of 1.07 and a beta of 1.55. The business's 50 day simple moving average is $163.26 and its two-hundred day simple moving average is $167.59. Blackstone Inc. has a 12 month low of $115.82 and a 12 month high of $200.96.
Blackstone (NYSE:BX - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.19. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. As a group, equities research analysts forecast that Blackstone Inc. will post 5.87 EPS for the current fiscal year.
Blackstone Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were issued a dividend of $1.44 per share. This represents a $5.76 annualized dividend and a yield of 3.82%. The ex-dividend date of this dividend was Monday, February 10th. This is a positive change from Blackstone's previous quarterly dividend of $0.86. Blackstone's payout ratio is currently 158.68%.
Insiders Place Their Bets
In related news, Director Ruth Porat purchased 301 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was bought at an average cost of $164.85 per share, for a total transaction of $49,619.85. Following the completion of the transaction, the director now directly owns 36,829 shares in the company, valued at $6,071,260.65. This represents a 0.82 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.00% of the company's stock.
About Blackstone
(
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.
Recommended Stories
Before you consider Blackstone, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Blackstone wasn't on the list.
While Blackstone currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
