Paragon Private Wealth Management LLC Has $811,000 Stock Position in Blackstone Inc. (NYSE:BX)

Paragon Private Wealth Management LLC lifted its holdings in Blackstone Inc. (NYSE:BX) by 2.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,705 shares of the asset manager’s stock after acquiring an additional 118 shares during the quarter. Paragon Private Wealth Management LLC’s holdings in Blackstone were worth $811,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Bangor Savings Bank boosted its holdings in shares of Blackstone by 187.5% in the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock worth $28,000 after acquiring an additional 105 shares in the last quarter. Hager Investment Management Services LLC acquired a new position in shares of Blackstone in the 4th quarter worth approximately $28,000. Centricity Wealth Management LLC acquired a new position in shares of Blackstone in the 4th quarter worth approximately $30,000. Roxbury Financial LLC bought a new position in Blackstone in the 4th quarter worth approximately $34,000. Finally, Berbice Capital Management LLC bought a new position in Blackstone in the 4th quarter worth approximately $34,000. 70.00% of the stock is owned by institutional investors and hedge funds.

Blackstone Trading Down 0.3 %

NYSE BX opened at $145.12 on Monday. The firm has a market cap of $105.86 billion, a P/E ratio of 39.98, a P/E/G 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’s 50-day moving average is $169.33 and its 200-day moving average is $167.23. Blackstone Inc. has a one year low of $115.82 and a one year high of $200.96.

Blackstone (NYSE:BX) last posted its quarterly earnings data 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 return on equity of 19.58% and a net margin of 20.99%. Sell-side analysts anticipate that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend was Monday, February 10th. This is an increase from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.97%. Blackstone’s dividend payout ratio (DPR) is presently 158.68%.

Analyst Ratings Changes

BX has been the topic of several research reports. Citigroup reaffirmed a “hold” rating on shares of Blackstone in a research note on Friday, February 7th. BMO Capital Markets upped their price target on Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a research note on Thursday, December 19th. Keefe, Bruyette & Woods upped their price target on Blackstone from $174.00 to $177.00 and gave the company a “market perform” rating in a research note on Friday, January 31st. StockNews.com lowered Blackstone from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Finally, TD Cowen raised Blackstone from a “hold” rating to a “buy” rating and upped their price target for the company from $149.00 to $230.00 in a research note on Monday, December 9th. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Blackstone has an average rating of “Hold” and an average price target of $172.38.

Insider Buying and Selling

In related news, Director Ruth Porat purchased 301 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was purchased at an average cost of $164.85 per share, for a total transaction of $49,619.85. Following the completion of the purchase, the director now directly owns 36,829 shares in the company, valued at $6,071,260.65. This trade represents a 0.82 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.00% of the stock is owned by corporate 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.