Foundation Wealth Management LLC PA Invests $250,000 in Blackstone Inc. (NYSE:BX)

Foundation Wealth Management LLC PA acquired a new position in shares of Blackstone Inc. (NYSE:BX) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 1,450 shares of the asset manager’s stock, valued at approximately $250,000.

Several other institutional investors and hedge funds also recently made changes to their positions in BX. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund increased its position in shares of Blackstone by 20.5% in the 4th quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund now owns 220,202 shares of the asset manager’s stock worth $37,967,000 after purchasing an additional 37,487 shares during the last quarter. Ausdal Financial Partners Inc. raised its stake in Blackstone by 118.2% during the fourth quarter. Ausdal Financial Partners Inc. now owns 13,924 shares of the asset manager’s stock valued at $2,401,000 after buying an additional 7,544 shares in the last quarter. Financial Engines Advisors L.L.C. acquired a new position in shares of Blackstone in the 4th quarter worth approximately $537,000. UNIVEST FINANCIAL Corp increased its holdings in shares of Blackstone by 4.3% in the 4th quarter. UNIVEST FINANCIAL Corp now owns 30,535 shares of the asset manager’s stock valued at $5,265,000 after acquiring an additional 1,257 shares during the last quarter. Finally, Trust Investment Advisors lifted its stake in Blackstone by 69.6% during the fourth quarter. Trust Investment Advisors now owns 2,968 shares of the asset manager’s stock worth $512,000 after purchasing an additional 1,218 shares during the last quarter. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Ruth Porat acquired 301 shares of the stock in a transaction on Tuesday, February 18th. The shares were purchased at an average cost of $164.85 per share, for a total transaction of $49,619.85. Following the transaction, the director now owns 36,829 shares in the company, valued at approximately $6,071,260.65. This trade represents a 0.82 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is currently owned by company insiders.

Blackstone Trading Down 2.9 %

Shares of Blackstone stock opened at $146.76 on Thursday. The business has a fifty day simple moving average of $162.33 and a 200-day simple moving average of $167.54. The firm has a market cap of $107.05 billion, a price-to-earnings ratio of 40.43, a price-to-earnings-growth ratio of 1.07 and a beta of 1.55. Blackstone Inc. has a fifty-two week low of $115.82 and a fifty-two 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.

Blackstone (NYSE:BX) last released its earnings results on Thursday, January 30th. The asset manager reported $1.69 EPS for the quarter, topping analysts’ consensus estimates 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 analysts forecast that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th were given a dividend of $1.44 per share. The ex-dividend date of this dividend was Monday, February 10th. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.92%. Blackstone’s payout ratio is 158.68%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised their price target 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. TD Cowen raised Blackstone from a “hold” rating to a “buy” rating and upped their target price for the company from $149.00 to $230.00 in a report on Monday, December 9th. Keefe, Bruyette & Woods raised their price target on Blackstone from $174.00 to $177.00 and gave the stock a “market perform” rating in a report on Friday, January 31st. UBS Group raised shares of Blackstone from a “neutral” rating to a “buy” rating and set a $180.00 price target for the company in a report on Monday, March 17th. Finally, StockNews.com downgraded shares of Blackstone from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Twelve investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $171.13.

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.