Hemington Wealth Management Buys 98 Shares of Blackstone Inc. (NYSE:BX)

Hemington Wealth Management boosted its position in Blackstone Inc. (NYSE:BX) by 16.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 679 shares of the asset manager’s stock after acquiring an additional 98 shares during the quarter. Hemington Wealth Management’s holdings in Blackstone were worth $117,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Clarity Capital Partners LLC increased its stake in shares of Blackstone by 26.4% in the 4th quarter. Clarity Capital Partners LLC now owns 2,004 shares of the asset manager’s stock valued at $346,000 after acquiring an additional 419 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of Blackstone by 22.2% in the fourth quarter. Van ECK Associates Corp now owns 24,563 shares of the asset manager’s stock valued at $4,235,000 after acquiring an additional 4,469 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Blackstone by 16.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 168,201 shares of the asset manager’s stock valued at $29,225,000 after buying an additional 23,420 shares during the period. Avidian Wealth Enterprises LLC grew its holdings in Blackstone by 0.4% during the fourth quarter. Avidian Wealth Enterprises LLC now owns 16,184 shares of the asset manager’s stock valued at $2,790,000 after purchasing an additional 59 shares during the period. Finally, Great Lakes Retirement Inc. boosted its holdings in Blackstone by 2.8% in the 4th quarter. Great Lakes Retirement Inc. now owns 18,815 shares of the asset manager’s stock worth $3,244,000 after buying an additional 509 shares during the period. Institutional investors own 70.00% of the company’s stock.

Analyst Upgrades and Downgrades

BX has been the subject of several analyst reports. Bank of America raised their price target on shares of Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a report on Friday, October 18th. Keefe, Bruyette & Woods boosted their price objective on Blackstone from $174.00 to $177.00 and gave the company a “market perform” rating in a research report on Friday, January 31st. Barclays lowered their price target on Blackstone from $192.00 to $186.00 and set an “equal weight” rating for the company in a research report on Friday, January 31st. Wells Fargo & Company decreased their price target on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. Finally, Cowen reaffirmed a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. Thirteen analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $172.38.

Blackstone Trading Down 2.4 %

Shares of NYSE:BX opened at $160.90 on Thursday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71. Blackstone Inc. has a 1 year low of $115.82 and a 1 year high of $200.96. The firm has a market capitalization of $116.17 billion, a P/E ratio of 44.33, a P/E/G ratio of 1.13 and a beta of 1.53. The business’s 50-day moving average is $177.56 and its 200 day moving average is $164.16.

Blackstone (NYSE:BX) last announced its quarterly earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share for the quarter, topping 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%. On average, research analysts predict that Blackstone Inc. will post 5.88 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th will be paid a dividend of $1.44 per share. This is a boost from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date is Monday, February 10th. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.58%. Blackstone’s dividend payout ratio (DPR) is presently 94.77%.

Blackstone Company 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.