Blackstone Inc. (NYSE:BX) Position Increased by RWA Wealth Partners LLC

RWA Wealth Partners LLC lifted its position in Blackstone Inc. (NYSE:BX) by 10.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 13,701 shares of the asset manager’s stock after acquiring an additional 1,313 shares during the quarter. RWA Wealth Partners LLC’s holdings in Blackstone were worth $2,362,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BX. Vanguard Group Inc. raised its position in Blackstone by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 66,894,632 shares of the asset manager’s stock valued at $11,533,972,000 after buying an additional 889,286 shares during the period. State Street Corp increased its holdings in shares of Blackstone by 1.2% in the 3rd quarter. State Street Corp now owns 30,020,426 shares of the asset manager’s stock valued at $4,597,028,000 after purchasing an additional 348,751 shares during the period. Geode Capital Management LLC boosted 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 during the period. Norges Bank acquired a new position in Blackstone in the 4th quarter valued at approximately $974,448,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Blackstone by 2.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,045,143 shares of the asset manager’s stock valued at $697,464,000 after buying an additional 113,732 shares during the period. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on BX shares. Wells Fargo & Company cut their price objective on Blackstone from $180.00 to $160.00 and set an “equal weight” rating for the company in a report on Thursday, March 20th. Citigroup reissued a “hold” rating on shares of Blackstone in a research note on Friday, February 7th. Barclays reissued an “equal weight” rating on shares of Blackstone in a research report on Friday, February 7th. StockNews.com downgraded shares of Blackstone from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Finally, TD Cowen upgraded Blackstone from a “hold” rating to a “buy” rating and upped their price target for the stock from $149.00 to $230.00 in a research note on Monday, December 9th. Twelve equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Blackstone currently has an average rating of “Hold” and a consensus target price of $171.13.

Blackstone Trading Down 4.3 %

Shares of BX opened at $138.26 on Monday. Blackstone Inc. has a 12-month low of $115.82 and a 12-month high of $200.96. The firm has a market capitalization of $100.85 billion, a price-to-earnings ratio of 38.09, a P/E/G ratio of 1.07 and a beta of 1.55. The stock’s 50-day moving average price is $160.86 and its 200 day moving average price is $167.72. 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 announced its quarterly earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, beating 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%. As a group, research analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th were issued a $1.44 dividend. The ex-dividend date was Monday, February 10th. This is a boost from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 dividend on an annualized basis and a dividend yield of 4.17%. Blackstone’s dividend payout ratio is presently 158.68%.

Insider Activity at Blackstone

In other news, Director Ruth Porat purchased 301 shares of Blackstone stock in a transaction on Tuesday, February 18th. The shares were purchased at an average cost of $164.85 per share, for a total transaction of $49,619.85. Following the completion of the transaction, the director now directly owns 36,829 shares in the company, valued at approximately $6,071,260.65. This represents a 0.82 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is owned by insiders.

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.