Blackstone Inc. (NYSE:BX) Holdings Raised by Mission Wealth Management LP

Mission Wealth Management LP boosted its stake in shares of Blackstone Inc. (NYSE:BX) by 2.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,440 shares of the asset manager’s stock after buying an additional 160 shares during the period. Mission Wealth Management LP’s holdings in Blackstone were worth $1,283,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in BX. Sather Financial Group Inc boosted its stake in Blackstone by 202.5% in the 3rd quarter. Sather Financial Group Inc now owns 6,050 shares of the asset manager’s stock worth $926,000 after purchasing an additional 4,050 shares during the period. Portside Wealth Group LLC purchased a new stake in shares of Blackstone in the third quarter valued at $201,000. Aljian Capital Management LLC purchased a new position in shares of Blackstone during the third quarter valued at $1,951,000. Icon Wealth Advisors LLC lifted its stake in Blackstone by 2,185.4% in the 3rd quarter. Icon Wealth Advisors LLC now owns 18,946 shares of the asset manager’s stock worth $2,901,000 after acquiring an additional 18,117 shares in the last quarter. Finally, Wealthcare Capital Partners LLC acquired a new stake in Blackstone during the 4th quarter worth about $2,102,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on BX shares. StockNews.com lowered shares of Blackstone from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Citigroup reiterated a “hold” rating on shares of Blackstone in a report on Friday, February 7th. TD Cowen upgraded Blackstone from a “hold” rating to a “buy” rating and boosted their target price for the company from $149.00 to $230.00 in a research note on Monday, December 9th. Finally, UBS Group reiterated a “neutral” rating on shares of Blackstone in a report on Monday. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $172.38.

Blackstone Stock Performance

NYSE:BX opened at $158.36 on Tuesday. The firm has a market capitalization of $114.34 billion, a PE ratio of 43.63, a PEG ratio of 1.07 and a beta of 1.53. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. Blackstone Inc. has a 1 year low of $115.82 and a 1 year high of $200.96. The firm’s fifty day simple moving average is $171.49 and its 200 day simple moving average is $166.83.

Blackstone (NYSE:BX) last posted 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%. On average, sell-side analysts anticipate that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

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

Insider Buying and Selling at Blackstone

In other news, Director Ruth Porat purchased 301 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was purchased at an average price of $164.85 per share, with a total value of $49,619.85. Following the acquisition, the director now directly owns 36,829 shares in the company, valued at approximately $6,071,260.65. The trade was a 0.82 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.00% of the company’s stock.

Blackstone 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.