Uniting Wealth Partners LLC Acquires Shares of 6,089 Blackstone Inc. (NYSE:BX)

Uniting Wealth Partners LLC bought a new stake in shares of Blackstone Inc. (NYSE:BX) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,089 shares of the asset manager’s stock, valued at approximately $1,050,000. Blackstone comprises approximately 0.5% of Uniting Wealth Partners LLC’s portfolio, making the stock its 25th largest holding.

Several other large investors also recently bought and sold shares of BX. Glen Eagle Advisors LLC increased its position in shares of Blackstone by 1.8% during the 3rd quarter. Glen Eagle Advisors LLC now owns 3,251 shares of the asset manager’s stock worth $498,000 after purchasing an additional 59 shares during the last quarter. Avidian Wealth Enterprises LLC increased its position in shares of Blackstone by 0.4% during the fourth quarter. Avidian Wealth Enterprises LLC now owns 16,184 shares of the asset manager’s stock worth $2,790,000 after purchasing an additional 59 shares in the last quarter. McIlrath & Eck LLC grew its position in Blackstone by 6.5% during the 3rd quarter. McIlrath & Eck LLC now owns 1,019 shares of the asset manager’s stock worth $156,000 after purchasing an additional 62 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its stake in shares of Blackstone by 0.5% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,426 shares of the asset manager’s stock worth $1,970,000 after purchasing an additional 62 shares during the last quarter. Finally, McAdam LLC lifted its holdings in shares of Blackstone by 3.9% in the 4th quarter. McAdam LLC now owns 1,687 shares of the asset manager’s stock valued at $291,000 after buying an additional 63 shares during the period. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Price Performance

Shares of BX opened at $147.80 on Thursday. The company has a market capitalization of $107.81 billion, a P/E ratio of 40.72, a P/E/G ratio of 1.07 and a beta of 1.61. The business’s 50-day moving average is $158.58 and its two-hundred day moving average is $167.47. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67. Blackstone Inc. has a fifty-two week low of $115.82 and a fifty-two week high of $200.96.

Blackstone (NYSE:BX) last issued its quarterly earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.19. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. Research analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were issued a $1.44 dividend. This is a boost from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.76 annualized dividend and a yield of 3.90%. Blackstone’s payout ratio is 158.68%.

Insider Activity at Blackstone

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

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. JPMorgan Chase & Co. upped their target price on Blackstone from $149.00 to $154.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. BMO Capital Markets boosted their target price on shares of Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a research note on Thursday, December 19th. UBS Group upgraded Blackstone from a “neutral” rating to a “buy” rating and set a $180.00 price objective for the company in a research report on Monday, March 17th. Citigroup restated a “hold” rating on shares of Blackstone in a research report on Friday, February 7th. Finally, Barclays reissued an “equal weight” rating on shares of Blackstone in a research note on Friday, February 7th. Twelve research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Blackstone has a consensus rating of “Hold” and an average target price of $171.13.

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.