Wealth Alliance Has $894,000 Stock Position in Blackstone Inc. (NYSE:BX)

Wealth Alliance boosted its stake in shares of Blackstone Inc. (NYSE:BX - Free Report) by 64.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,187 shares of the asset manager's stock after purchasing an additional 2,037 shares during the quarter. Wealth Alliance's holdings in Blackstone were worth $894,000 at the end of the most recent reporting period.

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

Blackstone Trading Down 3.5 %

Blackstone stock traded down $5.69 during midday trading on Friday, reaching $158.21. The stock had a trading volume of 4,662,276 shares, compared to its average volume of 3,336,160. The firm's fifty day simple moving average is $174.18 and its two-hundred day simple moving average is $165.03. 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 twelve month low of $115.82 and a twelve month high of $200.96. The firm has a market cap of $114.23 billion, a price-to-earnings ratio of 43.58, a PEG ratio of 1.09 and a beta of 1.53.

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

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were paid a $1.44 dividend. This represents a $5.76 annualized dividend and a yield of 3.64%. The ex-dividend date was Monday, February 10th. This is a positive change from Blackstone's previous quarterly dividend of $0.86. Blackstone's dividend payout ratio is currently 158.68%.

Insiders Place Their Bets

In other news, Director Ruth Porat acquired 301 shares of the business'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 approximately $6,071,260.65. The trade was a 0.82 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.00% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on BX shares. BMO Capital Markets upped their price objective 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. Piper Sandler increased their price objective on shares of Blackstone from $168.00 to $179.00 and gave the company a "neutral" rating in a report on Monday, December 23rd. JPMorgan Chase & Co. boosted their target price on Blackstone from $149.00 to $154.00 and gave the stock a "neutral" rating in a report on Friday, January 31st. Barclays lowered their price target on Blackstone from $192.00 to $186.00 and set an "equal weight" rating on the stock in a research report on Friday, January 31st. Finally, TD Cowen raised Blackstone from a "hold" rating to a "buy" rating and raised their target price for the company from $149.00 to $230.00 in a research note on Monday, December 9th. Thirteen research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, Blackstone presently 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.