Maridea Wealth Management LLC Acquires Shares of 4,333 Blackstone Inc. (NYSE:BX)

Maridea Wealth Management LLC bought a new stake in Blackstone Inc. (NYSE:BX - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 4,333 shares of the asset manager's stock, valued at approximately $747,000.

Other institutional investors have also made changes to their positions in the company. Norges Bank purchased a new position in Blackstone during the 4th quarter valued at about $974,448,000. Raymond James Financial Inc. purchased a new stake in shares of Blackstone during the fourth quarter worth $316,257,000. Vanguard Group Inc. grew its stake in Blackstone by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 66,894,632 shares of the asset manager's stock worth $11,533,972,000 after purchasing an additional 889,286 shares in the last quarter. Proficio Capital Partners LLC raised its position in Blackstone by 2,057.7% in the 4th quarter. Proficio Capital Partners LLC now owns 844,755 shares of the asset manager's stock valued at $145,653,000 after purchasing an additional 805,604 shares in the last quarter. Finally, Jennison Associates LLC grew its position in shares of Blackstone by 111.1% during the fourth quarter. Jennison Associates LLC now owns 973,348 shares of the asset manager's stock worth $167,825,000 after buying an additional 512,165 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Price Performance

BX stock traded up $5.52 on Wednesday, reaching $148.32. 1,532,767 shares of the company's stock were exchanged, compared to its average volume of 3,446,692. 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 twelve month low of $115.82 and a twelve month high of $200.96. The firm has a market cap of $108.19 billion, a PE ratio of 40.86, a P/E/G ratio of 1.07 and a beta of 1.55. The stock has a fifty day moving average of $159.28 and a 200-day moving average of $167.61.

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Blackstone (NYSE:BX - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The asset manager reported $1.69 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 analysts predict that Blackstone Inc. will post 5.87 EPS 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 $1.44 dividend. This is an increase 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 annualized dividend and a yield of 3.88%. Blackstone's payout ratio is presently 158.68%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. BMO Capital Markets boosted their price target on shares of Blackstone from $134.00 to $157.00 and gave the stock a "market perform" rating in a report on Thursday, December 19th. Citigroup reaffirmed a "hold" rating on shares of Blackstone in a report on Friday, February 7th. Barclays reissued an "equal weight" rating on shares of Blackstone in a report on Friday, February 7th. Piper Sandler upped their price target on shares of Blackstone from $168.00 to $179.00 and gave the company a "neutral" rating in a research report on Monday, December 23rd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Blackstone from $149.00 to $154.00 and gave the company a "neutral" rating in a research note on Friday, January 31st. Twelve equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Blackstone currently has an average rating of "Hold" and a consensus price target of $171.13.

Insider Activity at Blackstone

In other Blackstone news, Director Ruth Porat purchased 301 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The shares were purchased at an average price 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 of the company's stock, valued at approximately $6,071,260.65. This represents a 0.82 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.00% of the company's stock.

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.