Wealth Alliance Boosts Stock Holdings in Blackstone Inc. (NYSE:BX)

Wealth Alliance grew its position in shares of Blackstone Inc. (NYSE:BX) by 64.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,187 shares of the asset manager’s stock after acquiring an additional 2,037 shares during the quarter. Wealth Alliance’s holdings in Blackstone were worth $894,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of BX. Bangor Savings Bank boosted its holdings in 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 last quarter. Hager Investment Management Services LLC purchased a new position in Blackstone during the 4th quarter worth $28,000. Berbice Capital Management LLC purchased a new position in shares of Blackstone in the 4th quarter worth about $34,000. Comprehensive Financial Planning Inc. PA purchased a new position in shares of Blackstone in the 4th quarter worth about $34,000. Finally, Roxbury Financial LLC purchased a new position in shares of Blackstone in the 4th quarter worth about $34,000. 70.00% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BX has been the topic of a number of research analyst reports. Barclays cut their price target on shares of Blackstone from $192.00 to $186.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. UBS Group boosted their price target on shares of Blackstone from $170.00 to $180.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. BMO Capital Markets boosted their price target 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. StockNews.com cut Blackstone from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Thirteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $172.38.

Blackstone Trading Down 1.8 %

Shares of BX opened at $163.83 on Friday. The business’s 50-day moving average price is $174.18 and its 200-day moving average price is $165.03. Blackstone Inc. has a twelve month low of $115.82 and a twelve month high of $200.96. The stock has a market cap of $118.28 billion, a PE ratio of 45.13, a P/E/G ratio of 1.09 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 (NYSE:BX) last posted 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 forecast 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. Investors of record on Monday, February 10th were given a $1.44 dividend. This represents a $5.76 annualized dividend and a dividend yield of 3.52%. This is a boost from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Monday, February 10th. Blackstone’s dividend payout ratio is 158.68%.

Insider Buying and Selling

In other news, Director Ruth Porat bought 301 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was acquired at an average price of $164.85 per share, with a total value of $49,619.85. Following the completion of the purchase, the director now directly owns 36,829 shares in the company, valued at $6,071,260.65. This represents a 0.82 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.00% of the stock is owned by company insiders.

About Blackstone

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.