Walkner Condon Financial Advisors LLC Invests $216,000 in Blackstone Inc. (NYSE:BX)

Walkner Condon Financial Advisors LLC bought 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 (SEC). The fund bought 1,250 shares of the asset manager’s stock, valued at approximately $216,000.

A number of other institutional investors also recently bought and sold shares of BX. Exchange Traded Concepts LLC raised its stake in Blackstone by 2,188.2% during the third quarter. Exchange Traded Concepts LLC now owns 1,167 shares of the asset manager’s stock worth $179,000 after purchasing an additional 1,116 shares during the period. CX Institutional raised its stake in shares of Blackstone by 4.8% in the 3rd quarter. CX Institutional now owns 2,663 shares of the asset manager’s stock valued at $408,000 after acquiring an additional 122 shares during the period. Creative Planning raised its stake in shares of Blackstone by 4.2% in the 3rd quarter. Creative Planning now owns 237,936 shares of the asset manager’s stock valued at $36,435,000 after acquiring an additional 9,668 shares during the period. Asset Dedication LLC raised its stake in shares of Blackstone by 18.9% in the 3rd quarter. Asset Dedication LLC now owns 898 shares of the asset manager’s stock valued at $138,000 after acquiring an additional 143 shares during the period. Finally, Vontobel Holding Ltd. raised its stake in shares of Blackstone by 125.0% in the 3rd quarter. Vontobel Holding Ltd. now owns 27,688 shares of the asset manager’s stock valued at $4,240,000 after acquiring an additional 15,384 shares during the period. 70.00% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on BX. UBS Group boosted their price target on shares of Blackstone from $170.00 to $180.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. boosted their price target 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. BMO Capital Markets lifted their price objective on shares of Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a report on Thursday, December 19th. Keefe, Bruyette & Woods lifted their price objective on shares of Blackstone from $174.00 to $177.00 and gave the company a “market perform” rating in a report on Friday, January 31st. Finally, Piper Sandler lifted 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. Thirteen 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.com, Blackstone has a consensus rating of “Hold” and a consensus price target of $172.38.

Blackstone Stock Up 2.9 %

Shares of NYSE:BX opened at $165.09 on Friday. The company has a market capitalization of $119.20 billion, a PE ratio of 45.48, a P/E/G ratio of 1.13 and a beta of 1.53. The company has a current ratio of 0.67, a quick ratio of 0.71 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 50 day simple moving average of $176.53 and a 200-day simple moving average of $164.11.

Blackstone (NYSE:BX) last issued its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 earnings per share for the quarter, topping 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%. On average, equities analysts predict that Blackstone Inc. will post 5.88 EPS for the current fiscal year.

Blackstone Increases Dividend

The firm also recently declared 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. This is an increase from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date is Monday, February 10th. This represents a $5.76 annualized dividend and a yield of 3.49%. Blackstone’s dividend payout ratio is 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.