Proactive Wealth Strategies LLC Raises Stake in Blackstone Inc. (NYSE:BX)

Proactive Wealth Strategies LLC lifted its holdings in shares of Blackstone Inc. (NYSE:BX) by 0.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 18,902 shares of the asset manager’s stock after purchasing an additional 155 shares during the period. Blackstone comprises about 1.7% of Proactive Wealth Strategies LLC’s investment portfolio, making the stock its 16th biggest position. Proactive Wealth Strategies LLC’s holdings in Blackstone were worth $3,259,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in BX. Bangor Savings Bank raised its stake in shares of 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 during the last quarter. Hager Investment Management Services LLC bought a new position in Blackstone in the fourth quarter worth about $28,000. Roxbury Financial LLC bought a new position in shares of Blackstone in the 4th quarter worth approximately $34,000. Berbice Capital Management LLC purchased a new stake in Blackstone in the fourth quarter worth $34,000. Finally, Comprehensive Financial Planning Inc. PA bought a new stake in shares of Blackstone during the 4th quarter valued at $34,000. 70.00% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on BX. Citigroup raised their price target on Blackstone from $170.00 to $190.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Barclays reduced their price target on shares of Blackstone from $192.00 to $186.00 and set an “equal weight” rating for the company in a research report on Friday, January 31st. Piper Sandler raised their target price on Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a report on Monday, December 23rd. Wells Fargo & Company cut their price objective on 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, BMO Capital Markets boosted their price objective on Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a research report on Thursday, December 19th. Thirteen research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Blackstone currently has an average rating of “Hold” and a consensus target price of $172.38.

Blackstone Stock Performance

Shares of BX stock opened at $165.09 on Tuesday. 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 business has a fifty day moving average of $176.09 and a 200 day moving average of $164.60. The firm has a market capitalization of $119.19 billion, a price-to-earnings ratio of 45.48, a price-to-earnings-growth ratio of 1.13 and a beta of 1.53.

Blackstone (NYSE:BX) last posted its quarterly earnings results on Thursday, January 30th. The asset manager reported $1.69 EPS for the quarter, beating the consensus estimate of $1.50 by $0.19. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. As a group, research analysts expect that Blackstone Inc. will post 5.88 earnings per share for the current year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Monday, February 10th will be paid a $1.44 dividend. The ex-dividend date of this dividend is 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 yield of 3.49%. Blackstone’s dividend payout ratio (DPR) is currently 94.77%.

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.