Integrated Wealth Concepts LLC Increases Stock Position in Blackstone Inc. (NYSE:BX)

Integrated Wealth Concepts LLC raised its position in shares of Blackstone Inc. (NYSE:BX - Free Report) by 8.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 33,344 shares of the asset manager's stock after buying an additional 2,673 shares during the period. Integrated Wealth Concepts LLC's holdings in Blackstone were worth $5,749,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of BX. Burling Wealth Partners LLC purchased a new position in Blackstone during the 4th quarter valued at $16,503,000. Tenere Capital LLC raised its stake in Blackstone by 24.6% in the fourth quarter. Tenere Capital LLC now owns 112,300 shares of the asset manager's stock worth $19,363,000 after buying an additional 22,180 shares in the last quarter. Coppell Advisory Solutions LLC grew its holdings in shares of Blackstone by 60.8% during the 4th quarter. Coppell Advisory Solutions LLC now owns 426 shares of the asset manager's stock worth $73,000 after acquiring an additional 161 shares during the period. GMT Capital Corp purchased a new position in Blackstone during the 4th quarter valued at about $1,086,000. Finally, MGO One Seven LLC raised its stake in Blackstone by 12.8% during the fourth quarter. MGO One Seven LLC now owns 26,381 shares of the asset manager's stock valued at $4,549,000 after buying an additional 2,988 shares during the last quarter. Hedge funds and other institutional investors own 70.00% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on BX shares. UBS Group reduced their price target on Blackstone from $180.00 to $175.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Citigroup decreased their target price on shares of Blackstone from $190.00 to $137.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Piper Sandler decreased their price objective on shares of Blackstone from $182.00 to $140.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Citizens Jmp raised Blackstone from a "market perform" rating to an "outperform" rating and set a $165.00 target price for the company in a report on Tuesday, April 8th. Finally, TD Cowen dropped their price objective on Blackstone from $233.00 to $147.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Ten investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $154.82.

Blackstone Stock Performance

Shares of Blackstone stock traded down $0.13 on Tuesday, hitting $133.45. 2,270,363 shares of the company's stock were exchanged, compared to its average volume of 3,763,535. Blackstone Inc. has a 1 year low of $115.66 and a 1 year high of $200.96. The company has a 50-day simple moving average of $140.89 and a 200-day simple moving average of $164.05. The stock has a market capitalization of $97.34 billion, a PE ratio of 36.76, a PEG ratio of 1.07 and a beta of 1.61. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67.

Blackstone (NYSE:BX - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The asset manager reported $1.09 EPS for the quarter, missing the consensus estimate of $1.22 by ($0.13). The company had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.95 billion. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. During the same period last year, the business earned $0.98 EPS. As a group, equities analysts anticipate that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Monday, April 28th will be paid a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date of this dividend is Monday, April 28th. Blackstone's dividend payout ratio (DPR) is 112.05%.

Insiders Place Their Bets

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

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.