Leo Wealth LLC Has $1.21 Million Stock Holdings in Blackstone Inc. (NYSE:BX)

Leo Wealth LLC increased its position in shares of Blackstone Inc. (NYSE:BX) by 8.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,041 shares of the asset manager’s stock after purchasing an additional 557 shares during the period. Leo Wealth LLC’s holdings in Blackstone were worth $1,214,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bangor Savings Bank lifted its holdings in shares of Blackstone by 187.5% during 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 bought a new position in Blackstone during the fourth quarter worth about $28,000. West Financial Advisors LLC bought a new stake in shares of Blackstone in the 3rd quarter valued at approximately $27,000. Berbice Capital Management LLC bought a new position in shares of Blackstone during the 4th quarter worth approximately $34,000. Finally, Kieckhefer Group LLC acquired a new position in Blackstone during the fourth quarter worth $39,000. 70.00% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. UBS Group increased their target price on shares of Blackstone from $170.00 to $180.00 and gave the stock a “neutral” rating in a research report on Monday. JPMorgan Chase & Co. lifted their target price 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. Evercore ISI lifted their price objective on Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Cowen restated a “hold” rating on shares of Blackstone in a research note on Friday, October 18th. Finally, The Goldman Sachs Group increased 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. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $172.38.

Blackstone Stock Performance

BX stock opened at $174.50 on Friday. The business’s fifty day moving average is $179.07 and its 200-day moving average is $163.20. The company has a market cap of $125.99 billion, a P/E ratio of 48.07, a price-to-earnings-growth ratio of 1.18 and a beta of 1.53. 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.

Blackstone (NYSE:BX) last announced its quarterly earnings results on Thursday, January 30th. The asset manager reported $1.69 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.19. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. Equities research analysts forecast that Blackstone Inc. will post 5.86 EPS for the current year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Monday, February 10th will be given a $1.44 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.30%. This is a boost from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s dividend payout ratio is currently 158.68%.

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.