Larson Financial Group LLC Has $1.63 Million Holdings in Blackstone Inc. (NYSE:BX)

Larson Financial Group LLC increased its stake in shares of Blackstone Inc. (NYSE:BX - Free Report) by 83.3% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 9,445 shares of the asset manager's stock after acquiring an additional 4,292 shares during the period. Larson Financial Group LLC's holdings in Blackstone were worth $1,628,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Blankinship & Foster LLC acquired a new position in shares of Blackstone in the fourth quarter worth about $288,000. Bank Julius Baer & Co. Ltd Zurich raised its position in shares of Blackstone by 7.4% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,531 shares of the asset manager's stock valued at $862,000 after purchasing an additional 313 shares in the last quarter. Oak Hill Wealth Advisors LLC grew its position in shares of Blackstone by 243.6% during the fourth quarter. Oak Hill Wealth Advisors LLC now owns 4,112 shares of the asset manager's stock worth $709,000 after buying an additional 6,975 shares in the last quarter. Edgestream Partners L.P. acquired a new stake in Blackstone in the fourth quarter valued at $2,524,000. Finally, Ashton Thomas Private Wealth LLC boosted its stake in Blackstone by 40.9% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 29,609 shares of the asset manager's stock valued at $5,105,000 after acquiring an additional 8,597 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company's stock.

Blackstone Stock Performance

Shares of NYSE BX traded down $0.51 during midday trading on Friday, reaching $145.12. 6,476,692 shares of the company traded hands, compared to its average volume of 3,295,543. The stock has a 50-day moving average price of $169.33 and a 200 day moving average price of $167.23. The company has a market cap of $105.86 billion, a price-to-earnings ratio of 39.98, a PEG ratio of 1.07 and a beta of 1.55. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71. Blackstone Inc. has a 52 week low of $115.82 and a 52 week high of $200.96.

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Blackstone (NYSE:BX - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share for the quarter, topping 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%. Sell-side analysts anticipate that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Investors 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 3.97%. This is a boost from Blackstone's previous quarterly dividend of $0.86. Blackstone's dividend payout ratio (DPR) is currently 158.68%.

Insider Activity at Blackstone

In related news, Director Ruth Porat purchased 301 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The stock was acquired at an average cost of $164.85 per share, for a total transaction of $49,619.85. Following the completion of the acquisition, 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 position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.00% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on BX shares. Deutsche Bank Aktiengesellschaft increased their price target on shares of Blackstone from $172.00 to $182.00 and gave the stock a "buy" rating in a research report on Monday, November 11th. Piper Sandler boosted their price target on Blackstone from $168.00 to $179.00 and gave the company a "neutral" rating in a report on Monday, December 23rd. BMO Capital Markets raised their price objective on Blackstone from $134.00 to $157.00 and gave the stock a "market perform" rating in a research note on Thursday, December 19th. Wells Fargo & Company dropped their target price on shares of Blackstone from $195.00 to $180.00 and set an "equal weight" rating on the stock in a report on Tuesday, January 14th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Blackstone from $174.00 to $177.00 and gave the company a "market perform" rating in a research report on Friday, January 31st. Thirteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $172.38.

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.