Centerpoint Advisory Group Invests $275,000 in Blackstone Inc. (NYSE:BX)

Centerpoint Advisory Group purchased a new position in shares of Blackstone Inc. (NYSE:BX) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,597 shares of the asset manager’s stock, valued at approximately $275,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BX. International Assets Investment Management LLC grew its position in Blackstone by 15,357.3% in the 3rd quarter. International Assets Investment Management LLC now owns 4,201,150 shares of the asset manager’s stock valued at $6,433,220,000 after buying an additional 4,173,971 shares during the last quarter. Jennison Associates LLC boosted its holdings in shares of Blackstone by 111.1% in the fourth quarter. Jennison Associates LLC now owns 973,348 shares of the asset manager’s stock valued at $167,825,000 after acquiring an additional 512,165 shares in the last quarter. Castleark Management LLC purchased a new position in Blackstone during the third quarter worth about $67,472,000. State Street Corp boosted its holdings in Blackstone by 1.2% in the 3rd quarter. State Street Corp now owns 30,020,426 shares of the asset manager’s stock valued at $4,597,028,000 after purchasing an additional 348,751 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Blackstone by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 14,896,413 shares of the asset manager’s stock worth $2,272,227,000 after buying an additional 336,308 shares in the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Analyst Ratings Changes

BX has been the topic of a number of recent analyst reports. TD Cowen raised Blackstone from a “hold” rating to a “buy” rating and upped their price objective for the stock from $149.00 to $230.00 in a report on Monday, December 9th. BMO Capital Markets increased their price target on shares of Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a report on Thursday, December 19th. Piper Sandler upped their target price on shares of Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a research report on Monday, December 23rd. Keefe, Bruyette & Woods boosted their price target on Blackstone from $174.00 to $177.00 and gave the stock a “market perform” rating in a research note on Friday, January 31st. Finally, StockNews.com cut Blackstone from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Thirteen research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $172.38.

Blackstone Stock Up 2.9 %

Shares of BX opened at $165.09 on Friday. The firm has a market cap of $119.19 billion, a PE ratio of 45.48, a price-to-earnings-growth ratio of 1.13 and a beta of 1.53. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. The company’s fifty day moving average is $176.09 and its two-hundred day moving average is $164.28. Blackstone Inc. has a fifty-two week low of $115.82 and a fifty-two week high of $200.96.

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 return on equity of 19.58% and a net margin of 20.99%. Analysts forecast that Blackstone Inc. will post 5.88 earnings per share for the current year.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th will be paid a $1.44 dividend. The ex-dividend date is Monday, February 10th. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.49%. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s dividend payout ratio (DPR) is 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.