Triad Wealth Partners LLC Takes $469,000 Position in Blackstone Inc. (NYSE:BX)

Triad Wealth Partners LLC acquired a new stake in Blackstone Inc. (NYSE:BX) during the 4th quarter, Holdings Channel.com reports. The firm acquired 2,720 shares of the asset manager’s stock, valued at approximately $469,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Bangor Savings Bank raised its stake 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 buying an additional 105 shares in the last quarter. Hager Investment Management Services LLC acquired a new position in Blackstone during the fourth quarter worth approximately $28,000. Centricity Wealth Management LLC purchased a new stake in shares of Blackstone during the 4th quarter worth about $30,000. Roxbury Financial LLC acquired a new stake in shares of Blackstone in the fourth quarter valued at about $34,000. Finally, Berbice Capital Management LLC acquired a new position in Blackstone in the 4th quarter worth $34,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insider Transactions at Blackstone

In other news, Director Ruth Porat bought 301 shares of the stock in a transaction on Tuesday, February 18th. The stock was purchased 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 owns 36,829 shares of the company’s stock, valued at approximately $6,071,260.65. This trade represents a 0.82 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.00% of the stock is currently owned by corporate insiders.

Blackstone Stock Down 5.0 %

BX stock opened at $150.59 on Wednesday. The company has a market cap of $108.73 billion, a PE ratio of 41.49, a price-to-earnings-growth ratio of 1.07 and a beta of 1.55. 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. The business’s 50-day simple moving average is $170.99 and its 200 day simple moving average is $166.94.

Blackstone (NYSE:BX) last released its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, topping 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%. On average, research analysts anticipate that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 10th were issued a $1.44 dividend. The ex-dividend date was Monday, February 10th. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.82%. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s dividend payout ratio (DPR) is currently 158.68%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on BX. Barclays reaffirmed an “equal weight” rating on shares of Blackstone in a report on Friday, February 7th. TD Cowen raised Blackstone from a “hold” rating to a “buy” rating and lifted their target price for the company from $149.00 to $230.00 in a research note on Monday, December 9th. Keefe, Bruyette & Woods raised their price target on Blackstone from $174.00 to $177.00 and gave the company a “market perform” rating in a report on Friday, January 31st. Deutsche Bank Aktiengesellschaft raised their target price on shares of Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, Citigroup reaffirmed a “hold” rating on shares of Blackstone in a research note on Friday, February 7th. Thirteen research 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.com, Blackstone has a consensus rating of “Hold” and an average target price of $172.38.

Blackstone 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.