Golden State Wealth Management LLC Purchases Shares of 58,272 Blackstone Inc. (NYSE:BX)

Golden State Wealth Management LLC acquired a new position in shares of Blackstone Inc. (NYSE:BX) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 58,272 shares of the asset manager’s stock, valued at approximately $10,047,000. Blackstone comprises about 1.5% of Golden State Wealth Management LLC’s portfolio, making the stock its 14th biggest holding.

Other institutional investors also recently modified their holdings of the company. State Street Corp lifted its holdings in shares of Blackstone by 1.2% in the third quarter. State Street Corp now owns 30,020,426 shares of the asset manager’s stock worth $4,597,028,000 after buying an additional 348,751 shares in the last quarter. Geode Capital Management LLC grew its position in Blackstone by 2.3% during the third quarter. Geode Capital Management LLC now owns 14,896,413 shares of the asset manager’s stock valued at $2,272,227,000 after acquiring an additional 336,308 shares during the last quarter. International Assets Investment Management LLC lifted its stake in shares of Blackstone by 15,357.3% in the 3rd quarter. International Assets Investment Management LLC now owns 4,201,150 shares of the asset manager’s stock valued at $6,433,220,000 after acquiring an additional 4,173,971 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Blackstone by 1.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,931,411 shares of the asset manager’s stock worth $602,017,000 after acquiring an additional 61,739 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Blackstone by 3.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,430,909 shares of the asset manager’s stock worth $525,375,000 after buying an additional 116,367 shares during the last quarter. 70.00% of the stock is owned by institutional investors.

Blackstone Stock Down 0.2 %

BX opened at $174.50 on Friday. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. The firm’s 50 day simple moving average is $179.07 and its two-hundred day simple moving average is $163.20. The company has a market capitalization of $125.99 billion, a PE ratio of 48.07, a PEG ratio of 1.18 and a beta of 1.53. Blackstone Inc. has a 1-year low of $115.82 and a 1-year high of $200.96.

Blackstone (NYSE:BX) last issued 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 net margin of 20.99% and a return on equity of 19.58%. As a group, equities analysts forecast that Blackstone Inc. will post 5.86 EPS for the current year.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Monday, February 10th will be given a dividend of $1.44 per share. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date is Monday, February 10th. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.30%. Blackstone’s dividend payout ratio is currently 94.77%.

Analysts Set New Price Targets

Several analysts have commented on BX shares. The Goldman Sachs Group raised their price objective on shares of Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a research report on Monday, November 11th. StockNews.com lowered shares of Blackstone from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Citigroup increased their price objective on shares of Blackstone from $170.00 to $190.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Finally, Cowen reaffirmed a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Blackstone presently 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.