Modera Wealth Management LLC Has $2.85 Million Stock Holdings in Blackstone Inc. (NYSE:BX)

Modera Wealth Management LLC boosted its stake in Blackstone Inc. (NYSE:BX) by 3.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,545 shares of the asset manager’s stock after buying an additional 529 shares during the quarter. Modera Wealth Management LLC’s holdings in Blackstone were worth $2,853,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. 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 acquiring an additional 105 shares in the last quarter. Hager Investment Management Services LLC bought a new stake in Blackstone during the fourth quarter valued at about $28,000. Centricity Wealth Management LLC acquired a new stake in Blackstone in the 4th quarter valued at approximately $30,000. Roxbury Financial LLC bought a new position in Blackstone during the fourth quarter worth $34,000. Finally, Berbice Capital Management LLC acquired a new position in shares of Blackstone during the fourth quarter valued at about $34,000. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BX. UBS Group upped their target price on Blackstone from $170.00 to $180.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Wells Fargo & Company decreased their price target on Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. BMO Capital Markets boosted their target price on shares of Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a research note on Thursday, December 19th. TD Cowen upgraded Blackstone from a “hold” rating to a “buy” rating and raised their price target for the company from $149.00 to $230.00 in a report on Monday, December 9th. Finally, Citigroup reaffirmed a “hold” rating on shares of Blackstone in a report on Friday, February 7th. Thirteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $172.38.

Blackstone Price Performance

BX stock opened at $161.01 on Monday. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. The stock has a market cap of $116.25 billion, a PE ratio of 44.35, a price-to-earnings-growth ratio of 1.07 and a beta of 1.53. Blackstone Inc. has a 1 year low of $115.82 and a 1 year high of $200.96. The stock has a 50-day moving average price of $171.77 and a two-hundred day moving average price of $166.67.

Blackstone (NYSE:BX) last released its earnings results 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 20.99% and a return on equity of 19.58%. Equities analysts forecast that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The company also recently declared 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. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 annualized dividend and a yield of 3.58%. The ex-dividend date of this dividend was Monday, February 10th. Blackstone’s dividend payout ratio is 158.68%.

Insider Activity at Blackstone

In related news, Director Ruth Porat bought 301 shares of Blackstone stock in a transaction that occurred on Tuesday, February 18th. The stock was acquired at an average price of $164.85 per share, with a total value of $49,619.85. Following the acquisition, the director now owns 36,829 shares of the company’s stock, valued at approximately $6,071,260.65. This represents a 0.82 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.00% of the stock is currently owned by company insiders.

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.