Forvis Mazars Wealth Advisors LLC Buys 100 Shares of Blackstone Inc. (NYSE:BX)

Forvis Mazars Wealth Advisors LLC boosted its holdings in shares of Blackstone Inc. (NYSE:BX) by 4.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,365 shares of the asset manager’s stock after buying an additional 100 shares during the period. Forvis Mazars Wealth Advisors LLC’s holdings in Blackstone were worth $408,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Bangor Savings Bank raised its holdings in shares of Blackstone by 187.5% in the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 105 shares during the last quarter. Hager Investment Management Services LLC bought a new position in Blackstone during the fourth quarter valued at about $28,000. Centricity Wealth Management LLC bought a new position in Blackstone during the fourth quarter valued at about $30,000. Berbice Capital Management LLC bought a new position in Blackstone during the fourth quarter valued at about $34,000. Finally, Comprehensive Financial Planning Inc. PA bought a new position in Blackstone during the fourth quarter worth about $34,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Activity at Blackstone

In related news, Director Ruth Porat purchased 301 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $6,071,260.65. The trade was a 0.82 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on BX. JPMorgan Chase & Co. increased their target price on shares of Blackstone from $149.00 to $154.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Piper Sandler raised their price objective on shares of Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a research report on Monday, December 23rd. BMO Capital Markets raised their price objective on shares of Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a research report on Thursday, December 19th. Finally, UBS Group raised their price objective on shares of Blackstone from $170.00 to $180.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Blackstone currently has a consensus rating of “Hold” and a consensus price target of $172.38.

Blackstone Stock Down 0.7 %

Shares of NYSE BX opened at $157.27 on Tuesday. 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 52 week low of $115.82 and a 52 week high of $200.96. The firm’s fifty day moving average is $172.96 and its 200 day moving average is $165.93. The company has a market cap of $113.55 billion, a price-to-earnings ratio of 43.32, a PEG ratio of 1.07 and a beta of 1.53.

Blackstone (NYSE:BX) last issued 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, equities research analysts expect 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 annualized dividend and a yield of 3.66%. This is a boost from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s payout ratio is 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.