Waldron Private Wealth LLC Boosts Stock Position in Blackstone Inc. (NYSE:BX)

Waldron Private Wealth LLC grew its stake in shares of Blackstone Inc. (NYSE:BX) by 99.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 101,538 shares of the asset manager’s stock after purchasing an additional 50,512 shares during the quarter. Blackstone makes up approximately 0.7% of Waldron Private Wealth LLC’s investment portfolio, making the stock its 29th largest position. Waldron Private Wealth LLC’s holdings in Blackstone were worth $17,507,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BX. West Financial Advisors LLC bought a new position in shares of Blackstone during the 3rd quarter worth approximately $27,000. Bangor Savings Bank lifted its holdings in shares of Blackstone by 187.5% during the 4th 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. Berbice Capital Management LLC purchased a new position in Blackstone during the 4th quarter worth $34,000. Raleigh Capital Management Inc. boosted its holdings in Blackstone by 32.1% in the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after acquiring an additional 62 shares in the last quarter. Finally, Kieckhefer Group LLC acquired a new position in shares of Blackstone during the fourth quarter valued at about $39,000. Institutional investors own 70.00% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Evercore ISI lifted their target price on Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. JPMorgan Chase & Co. boosted their target price on shares of Blackstone from $149.00 to $154.00 and gave the company a “neutral” rating in a research report on Friday. Bank of America boosted their price objective on Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a report on Friday, October 18th. BMO Capital Markets boosted their price target on Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a report on Thursday, December 19th. Finally, TD Cowen upgraded shares of Blackstone from a “hold” rating to a “buy” rating and boosted their target price for the company from $149.00 to $230.00 in a research note on Monday, December 9th. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Blackstone has a consensus rating of “Hold” and an average price target of $171.13.

Insider Activity

In other Blackstone news, insider John G. Finley sold 42,249 shares of Blackstone stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $175.94, for a total value of $7,433,289.06. Following the transaction, the insider now directly owns 387,137 shares in the company, valued at approximately $68,112,883.78. This trade represents a 9.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.00% of the company’s stock.

Blackstone Stock Down 0.5 %

Shares of NYSE BX opened at $176.92 on Friday. 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 0.71 and a debt-to-equity ratio of 0.58. The business’s 50 day moving average is $180.59 and its two-hundred day moving average is $161.95. The firm has a market cap of $127.74 billion, a price-to-earnings ratio of 60.80, a PEG ratio of 1.24 and a beta of 1.53.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.19. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. Research analysts predict that Blackstone Inc. will post 4.41 EPS for the current year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th will be paid a $1.44 dividend. This represents a $5.76 annualized dividend and a yield of 3.26%. The ex-dividend date of this dividend is Monday, February 10th. This is an increase from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s dividend payout ratio is currently 118.21%.

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.