Blackstone Inc. (NYSE:BX) Shares Bought by Balboa Wealth Partners

Balboa Wealth Partners increased its position in shares of Blackstone Inc. (NYSE:BX) by 20.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 4,208 shares of the asset manager’s stock after buying an additional 706 shares during the quarter. Balboa Wealth Partners’ holdings in Blackstone were worth $726,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of BX. Glen Eagle Advisors LLC increased its holdings in Blackstone by 1.8% in the 3rd quarter. Glen Eagle Advisors LLC now owns 3,251 shares of the asset manager’s stock valued at $498,000 after purchasing an additional 59 shares in the last quarter. Avidian Wealth Enterprises LLC increased its holdings in Blackstone by 0.4% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 16,184 shares of the asset manager’s stock valued at $2,790,000 after purchasing an additional 59 shares in the last quarter. Investmark Advisory Group LLC grew its holdings in Blackstone by 2.4% during the 3rd quarter. Investmark Advisory Group LLC now owns 2,608 shares of the asset manager’s stock valued at $399,000 after purchasing an additional 60 shares in the last quarter. McIlrath & Eck LLC lifted its holdings in Blackstone by 6.5% in the 3rd quarter. McIlrath & Eck LLC now owns 1,019 shares of the asset manager’s stock worth $156,000 after buying an additional 62 shares in the last quarter. Finally, McAdam LLC grew its stake in shares of Blackstone by 3.9% during the fourth quarter. McAdam LLC now owns 1,687 shares of the asset manager’s stock valued at $291,000 after acquiring an additional 63 shares in the last quarter. 70.00% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on BX shares. Wells Fargo & Company reduced their price target on Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. StockNews.com lowered shares of Blackstone from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. UBS Group reiterated a “neutral” rating on shares of Blackstone in a research note on Monday, March 3rd. Piper Sandler upped their target price on shares of Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a research note on Monday, December 23rd. Finally, TD Cowen raised Blackstone from a “hold” rating to a “buy” rating and boosted their price objective for the company from $149.00 to $230.00 in a report on Monday, December 9th. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $172.38.

Blackstone Price Performance

Shares of BX opened at $140.46 on Thursday. Blackstone Inc. has a 12 month low of $115.82 and a 12 month high of $200.96. The company has a market cap of $102.46 billion, a P/E ratio of 38.70, a PEG ratio of 1.07 and a beta of 1.55. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71. The stock has a fifty day moving average price of $167.34 and a 200 day moving average price of $167.06.

Blackstone (NYSE:BX) last posted its earnings results on Thursday, January 30th. The asset manager reported $1.69 EPS 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, research analysts forecast that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 10th were issued a dividend of $1.44 per share. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 dividend on an annualized basis and a yield of 4.10%. The ex-dividend date of this dividend was Monday, February 10th. Blackstone’s payout ratio is presently 158.68%.

Insider Buying and Selling

In other news, Director Ruth Porat purchased 301 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were acquired at an average price of $164.85 per share, for a total transaction of $49,619.85. Following the completion of the acquisition, the director now directly owns 36,829 shares of the company’s stock, valued at $6,071,260.65. The trade was a 0.82 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is currently owned by 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.