Tcfg Wealth Management LLC Has $412,000 Holdings in Blackstone Inc. (NYSE:BX)

Tcfg Wealth Management LLC increased its stake in shares of Blackstone Inc. (NYSE:BX) by 4.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,389 shares of the asset manager’s stock after purchasing an additional 101 shares during the period. Tcfg Wealth Management LLC’s holdings in Blackstone were worth $412,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Bangor Savings Bank grew its stake in Blackstone by 187.5% in the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 105 shares during the period. Hager Investment Management Services LLC acquired a new position in Blackstone in the fourth quarter valued at about $28,000. Roxbury Financial LLC acquired a new position in Blackstone in the fourth quarter valued at about $34,000. Berbice Capital Management LLC acquired a new position in Blackstone in the fourth quarter valued at about $34,000. Finally, Comprehensive Financial Planning Inc. PA acquired a new position in Blackstone in the fourth quarter valued at about $34,000. 70.00% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on BX. Citigroup boosted their price target on Blackstone from $170.00 to $190.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Barclays cut their price target on Blackstone from $192.00 to $186.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. StockNews.com lowered Blackstone from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Wells Fargo & Company cut their price target on Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. Finally, BMO Capital Markets upped their target price on Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a report on Thursday, December 19th. Thirteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $172.38.

Blackstone Price Performance

Blackstone stock opened at $165.09 on Friday. Blackstone Inc. has a 12 month low of $115.82 and a 12 month high of $200.96. The stock’s 50 day moving average is $176.09 and its 200-day moving average is $164.28. 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 company has a market capitalization of $119.19 billion, a price-to-earnings ratio of 45.48, a PEG ratio of 1.13 and a beta of 1.53.

Blackstone (NYSE:BX) last posted its earnings results on Thursday, January 30th. The asset manager reported $1.69 EPS 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 research analysts expect that Blackstone Inc. will post 5.88 EPS for the current year.

Blackstone Increases Dividend

The business 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 dividend of $1.44 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $5.76 dividend on an annualized basis and a yield of 3.49%. This is an increase from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s dividend payout ratio is currently 94.77%.

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.