Bouchey Financial Group Ltd Buys Shares of 1,271 Blackstone Inc. (NYSE:BX)

Bouchey Financial Group Ltd bought a new stake in shares of Blackstone Inc. (NYSE:BX) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,271 shares of the asset manager’s stock, valued at approximately $219,000.

A number of other hedge funds have also added to or reduced their stakes in BX. Proficio Capital Partners LLC grew its holdings in Blackstone by 2,057.7% during the 4th quarter. Proficio Capital Partners LLC now owns 844,755 shares of the asset manager’s stock valued at $145,653,000 after buying an additional 805,604 shares in the last quarter. Jennison Associates LLC grew its holdings in shares of Blackstone by 111.1% during the fourth quarter. Jennison Associates LLC now owns 973,348 shares of the asset manager’s stock worth $167,825,000 after purchasing an additional 512,165 shares in the last quarter. Castleark Management LLC purchased a new position in shares of Blackstone during the third quarter worth about $67,472,000. State Street Corp grew its holdings in shares of Blackstone by 1.2% during the third quarter. State Street Corp now owns 30,020,426 shares of the asset manager’s stock worth $4,597,028,000 after purchasing an additional 348,751 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Blackstone by 2.3% during the third quarter. Geode Capital Management LLC now owns 14,896,413 shares of the asset manager’s stock worth $2,272,227,000 after purchasing an additional 336,308 shares in the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insider Buying and Selling

In other news, Director Ruth Porat purchased 301 shares of Blackstone stock in a transaction that occurred on Tuesday, February 18th. The shares were bought at an average cost 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 approximately $6,071,260.65. This trade represents a 0.82 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

BX has been the subject of several recent analyst reports. Barclays reissued an “equal weight” rating on shares of Blackstone in a report on Friday, February 7th. Deutsche Bank Aktiengesellschaft upped their target price on Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Citigroup reaffirmed a “hold” rating on shares of Blackstone in a research note on Friday, February 7th. Piper Sandler upped their target price on Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a research note on Monday, December 23rd. Finally, Wells Fargo & Company cut their target price on Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. Thirteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $172.38.

Blackstone Price Performance

Shares of Blackstone stock opened at $157.52 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. The company has a market cap of $113.73 billion, a PE ratio of 43.39, a P/E/G ratio of 1.07 and a beta of 1.53. The business has a 50 day moving average of $171.97 and a 200 day moving average of $166.01. Blackstone Inc. has a 52 week low of $115.82 and a 52 week high of $200.96.

Blackstone (NYSE:BX) last announced its 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%. As a group, equities research analysts forecast that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 10th were paid a $1.44 dividend. This represents a $5.76 annualized dividend and a yield of 3.66%. 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 presently 158.68%.

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.