Centerpoint Advisory Group Makes New Investment in Blackstone Inc. (NYSE:BX)

Centerpoint Advisory Group purchased a new stake in shares of Blackstone Inc. (NYSE:BX - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 1,597 shares of the asset manager's stock, valued at approximately $275,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bangor Savings Bank grew its holdings in shares of Blackstone by 187.5% during the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager's stock worth $28,000 after purchasing an additional 105 shares during the period. Hager Investment Management Services LLC purchased a new position in Blackstone during the fourth quarter worth about $28,000. Berbice Capital Management LLC purchased a new stake in shares of Blackstone in the 4th quarter valued at approximately $34,000. Comprehensive Financial Planning Inc. PA acquired a new position in shares of Blackstone in the 4th quarter worth approximately $34,000. Finally, Roxbury Financial LLC purchased a new stake in Blackstone in the fourth quarter valued at approximately $34,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Price Performance

Shares of Blackstone stock traded up $0.07 during trading on Wednesday, reaching $166.81. The company's stock had a trading volume of 3,162,580 shares, compared to its average volume of 3,299,386. The business has a 50 day moving average price of $175.23 and a 200-day moving average price of $165.03. The company has a market capitalization of $120.44 billion, a P/E ratio of 45.95, a price-to-earnings-growth ratio of 1.07 and a beta of 1.53. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. 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 announced its quarterly earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, beating 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, sell-side analysts anticipate that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 10th were paid a $1.44 dividend. This is an increase from Blackstone's previous quarterly dividend of $0.86. This represents a $5.76 annualized dividend and a yield of 3.45%. The ex-dividend date was Monday, February 10th. Blackstone's dividend payout ratio (DPR) is presently 158.68%.

Wall Street Analysts Forecast Growth

BX has been the subject of a number of research reports. Wells Fargo & Company dropped their price objective on 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 price target on Blackstone from $174.00 to $177.00 and gave the stock a "market perform" rating in a report on Friday, January 31st. TD Cowen upgraded shares of Blackstone from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $149.00 to $230.00 in a research report on Monday, December 9th. JPMorgan Chase & Co. increased their target price on shares of Blackstone from $149.00 to $154.00 and gave the company a "neutral" rating in a research report on Friday, January 31st. Finally, StockNews.com downgraded shares of Blackstone from a "buy" rating to a "hold" rating in a research note on Friday, January 31st. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $172.38.

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.