Ashton Thomas Private Wealth LLC Has $5.11 Million Position in Blackstone Inc. (NYSE:BX)

Ashton Thomas Private Wealth LLC boosted its stake in Blackstone Inc. (NYSE:BX - Free Report) by 40.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 29,609 shares of the asset manager's stock after purchasing an additional 8,597 shares during the quarter. Ashton Thomas Private Wealth LLC's holdings in Blackstone were worth $5,105,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in BX. Bangor Savings Bank boosted its position in shares of Blackstone by 187.5% in 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 during the period. Hager Investment Management Services LLC acquired a new position in Blackstone in the 4th quarter worth $28,000. Centricity Wealth Management LLC acquired a new position in shares of Blackstone in the fourth quarter worth about $30,000. Berbice Capital Management LLC purchased a new stake in Blackstone during the 4th quarter worth approximately $34,000. Finally, Comprehensive Financial Planning Inc. PA acquired a new stake in shares of Blackstone during the fourth quarter worth approximately $34,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on BX shares. UBS Group reissued a "neutral" rating on shares of Blackstone in a research report on Monday, March 3rd. JPMorgan Chase & Co. boosted their price target on Blackstone from $149.00 to $154.00 and gave the company a "neutral" rating in a report on Friday, January 31st. Barclays reiterated an "equal weight" rating on shares of Blackstone in a research note on Friday, February 7th. StockNews.com lowered shares of Blackstone from a "buy" rating to a "hold" rating in a research note on Friday, January 31st. Finally, BMO Capital Markets increased their price target on Blackstone from $134.00 to $157.00 and gave the stock a "market perform" rating in a research report on Thursday, December 19th. Thirteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, Blackstone currently has an average rating of "Hold" and a consensus price target of $172.38.

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Insider Buying and Selling

In other Blackstone news, Director Ruth Porat bought 301 shares of the firm's stock in a transaction dated Tuesday, February 18th. The stock was acquired at an average price of $164.85 per share, with a total value of $49,619.85. Following the completion of the transaction, 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 position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.00% of the stock is currently owned by company insiders.

Blackstone Price Performance

NYSE:BX traded down $0.51 during mid-day trading on Friday, reaching $145.12. 6,476,692 shares of the stock were exchanged, compared to its average volume of 3,295,543. Blackstone Inc. has a 1-year low of $115.82 and a 1-year high of $200.96. 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 firm has a market capitalization of $105.86 billion, a PE ratio of 39.98, a PEG ratio of 1.07 and a beta of 1.55. The business has a fifty day moving average price of $169.33 and a 200 day moving average price of $167.00.

Blackstone (NYSE:BX - Get Free Report) last released its earnings results 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 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 10th were given 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 was Monday, February 10th. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.97%. Blackstone's dividend payout ratio (DPR) is 158.68%.

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.