Mission Wealth Management LP Acquires 160 Shares of Blackstone Inc. (NYSE:BX)

Mission Wealth Management LP boosted its holdings in shares of Blackstone Inc. (NYSE:BX) by 2.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,440 shares of the asset manager’s stock after purchasing an additional 160 shares during the period. Mission Wealth Management LP’s holdings in Blackstone were worth $1,283,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Bangor Savings Bank boosted its stake in Blackstone by 187.5% in the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after buying an additional 105 shares in the last quarter. Hager Investment Management Services LLC acquired a new stake in shares of Blackstone during the fourth quarter worth approximately $28,000. Centricity Wealth Management LLC bought a new stake in Blackstone during the 4th quarter worth approximately $30,000. Berbice Capital Management LLC bought a new position in Blackstone in the 4th quarter valued at $34,000. Finally, Comprehensive Financial Planning Inc. PA bought a new stake in shares of Blackstone during the fourth quarter worth $34,000. 70.00% of the stock is currently owned by institutional investors.

Blackstone Price Performance

NYSE:BX opened at $158.36 on Tuesday. 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 Inc. has a 12-month low of $115.82 and a 12-month high of $200.96. The stock’s 50 day moving average price is $171.49 and its two-hundred day moving average price is $166.83. The firm has a market capitalization of $114.34 billion, a price-to-earnings ratio of 43.63, a P/E/G ratio of 1.07 and a beta of 1.53.

Blackstone (NYSE:BX) last released its quarterly earnings data 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, analysts anticipate that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were given a dividend of $1.44 per share. The ex-dividend date was Monday, February 10th. This is an increase from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 annualized dividend and a yield of 3.64%. Blackstone’s dividend payout ratio (DPR) is 158.68%.

Analysts Set New Price Targets

BX has been the topic of several analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Blackstone from $149.00 to $154.00 and gave the company a “neutral” rating in a report on Friday, January 31st. UBS Group reaffirmed a “neutral” rating on shares of Blackstone in a research note on Monday. Keefe, Bruyette & Woods upped their price objective on shares of Blackstone from $174.00 to $177.00 and gave the company a “market perform” rating in a research report on Friday, January 31st. Deutsche Bank Aktiengesellschaft increased their price target on Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Finally, Barclays reaffirmed an “equal weight” rating on shares of Blackstone in a research note on Friday, February 7th. Thirteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Blackstone presently has a consensus rating of “Hold” and an average price target of $172.38.

Insider Activity

In other Blackstone news, Director Ruth Porat bought 301 shares of Blackstone stock in a transaction dated Tuesday, February 18th. The stock was bought at an average price of $164.85 per share, with a total value of $49,619.85. Following the completion of the transaction, the director now owns 36,829 shares in the company, valued at $6,071,260.65. The trade was a 0.82 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.00% of the stock is owned by company 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.