Independent Advisor Alliance Has $11.45 Million Stock Holdings in Blackstone Inc. (NYSE:BX)

Independent Advisor Alliance increased its holdings in shares of Blackstone Inc. (NYSE:BX - Free Report) by 6.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 66,418 shares of the asset manager's stock after buying an additional 3,878 shares during the quarter. Independent Advisor Alliance's holdings in Blackstone were worth $11,452,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Equitable Trust Co. raised its holdings in shares of Blackstone by 9.4% in the 3rd quarter. Equitable Trust Co. now owns 3,472 shares of the asset manager's stock worth $532,000 after purchasing an additional 297 shares during the period. Assetmark Inc. raised its holdings in shares of Blackstone by 23.5% in the 3rd quarter. Assetmark Inc. now owns 60,182 shares of the asset manager's stock worth $9,216,000 after purchasing an additional 11,441 shares during the period. Essex Savings Bank raised its holdings in shares of Blackstone by 15.0% in the 3rd quarter. Essex Savings Bank now owns 2,370 shares of the asset manager's stock worth $363,000 after purchasing an additional 310 shares during the period. Mesirow Financial Investment Management Inc. raised its holdings in shares of Blackstone by 5.5% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 20,385 shares of the asset manager's stock worth $3,122,000 after purchasing an additional 1,067 shares during the period. Finally, Baker Avenue Asset Management LP acquired a new stake in shares of Blackstone in the third quarter valued at about $223,000. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Buying and Selling at Blackstone

In other news, Director Ruth Porat purchased 301 shares of the stock in a transaction dated Tuesday, February 18th. The shares were bought at an average cost of $164.85 per share, for a total transaction of $49,619.85. Following the transaction, the director now owns 36,829 shares in the company, valued at $6,071,260.65. This trade represents a 0.82 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on BX. JPMorgan Chase & Co. increased their target price on Blackstone from $149.00 to $154.00 and gave the company a "neutral" rating in a research note on Friday, January 31st. UBS Group reiterated a "neutral" rating on shares of Blackstone in a research note on Monday, March 3rd. Citigroup reiterated a "hold" rating on shares of Blackstone in a research note on Friday, February 7th. TD Cowen upgraded 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. Finally, Wells Fargo & Company lowered 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. Thirteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $172.38.

Blackstone Stock Performance

Shares of NYSE BX traded down $4.07 during mid-day trading on Thursday, hitting $136.47. The company had a trading volume of 4,877,026 shares, compared to its average volume of 3,332,664. The stock has a market cap of $99.54 billion, a price-to-earnings ratio of 37.60, a PEG ratio of 1.07 and a beta of 1.55. Blackstone Inc. has a 12 month low of $115.82 and a 12 month high of $200.96. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71. The firm's 50 day simple moving average is $166.60 and its two-hundred day simple moving average is $166.85.

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, topping 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 earnings per share for the current year.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were paid a dividend of $1.44 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.76 annualized dividend and a yield of 4.22%. This is an increase from Blackstone's previous quarterly dividend of $0.86. Blackstone's payout ratio is presently 158.68%.

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.