1,822 Shares in Blackstone Inc. (NYSE:BX) Bought by Flagship Wealth Advisors LLC

Flagship Wealth Advisors LLC purchased a new stake in shares of Blackstone Inc. (NYSE:BX) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,822 shares of the asset manager’s stock, valued at approximately $314,000.

A number of other large investors have also added to or reduced their stakes in BX. Bangor Savings Bank raised its position in Blackstone by 187.5% during 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 in the last quarter. Hager Investment Management Services LLC bought a new position in shares of Blackstone during the fourth quarter valued at about $28,000. Centricity Wealth Management LLC bought a new position in shares of Blackstone during the fourth quarter valued at about $30,000. Berbice Capital Management LLC bought a new position in shares of Blackstone during the fourth quarter valued at about $34,000. Finally, Comprehensive Financial Planning Inc. PA bought a new position in shares of Blackstone during the fourth quarter valued at about $34,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Analyst Upgrades and Downgrades

BX has been the topic of several recent analyst reports. Barclays reissued an “equal weight” rating on shares of Blackstone in a research note on Friday, February 7th. Keefe, Bruyette & Woods raised their target price on Blackstone from $174.00 to $177.00 and gave the stock a “market perform” rating in a research note on Friday, January 31st. BMO Capital Markets raised their target price on Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a research note on Thursday, December 19th. Piper Sandler upped their target price on Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a report on Monday, December 23rd. Finally, TD Cowen upgraded Blackstone from a “hold” rating to a “buy” rating and upped their target price for the stock 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 given a buy rating to the company’s stock. According to data from MarketBeat, Blackstone presently has a consensus rating of “Hold” and an average target price of $172.38.

Blackstone Stock Performance

Shares of BX opened at $141.01 on Monday. The stock has a market cap of $102.86 billion, a P/E ratio of 38.85, a P/E/G ratio of 1.07 and a beta of 1.55. Blackstone Inc. has a 52 week low of $115.82 and a 52 week high of $200.96. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. The business’s 50 day moving average price is $165.90 and its 200-day moving average price is $167.21.

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

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 10th were given a $1.44 dividend. The ex-dividend date of this dividend was Monday, February 10th. This is a boost from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 annualized dividend and a yield of 4.08%. Blackstone’s dividend payout ratio is 158.68%.

Insider Activity at Blackstone

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