Center for Financial Planning Inc. Purchases 120 Shares of Blackstone Inc. (NYSE:BX)

Center for Financial Planning Inc. increased its position in shares of Blackstone Inc. (NYSE:BX) by 18.5% during the fourth quarter, HoldingsChannel reports. The fund owned 770 shares of the asset manager’s stock after buying an additional 120 shares during the quarter. Center for Financial Planning Inc.’s holdings in Blackstone were worth $133,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Glen Eagle Advisors LLC grew its position in Blackstone by 1.8% during the 3rd quarter. Glen Eagle Advisors LLC now owns 3,251 shares of the asset manager’s stock worth $498,000 after acquiring an additional 59 shares during the last quarter. Avidian Wealth Enterprises LLC grew its position in shares of Blackstone by 0.4% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 16,184 shares of the asset manager’s stock valued at $2,790,000 after buying an additional 59 shares during the last quarter. Investmark Advisory Group LLC grew its position in shares of Blackstone by 2.4% in the 3rd quarter. Investmark Advisory Group LLC now owns 2,608 shares of the asset manager’s stock valued at $399,000 after buying an additional 60 shares during the last quarter. Raleigh Capital Management Inc. grew its position in shares of Blackstone by 32.1% in the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock valued at $39,000 after buying an additional 62 shares during the last quarter. Finally, Capital Advisors Ltd. LLC grew its position in shares of Blackstone by 2.3% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 2,787 shares of the asset manager’s stock valued at $427,000 after buying an additional 62 shares during the last quarter. Institutional investors own 70.00% of the company’s stock.

Blackstone Stock Performance

Shares of Blackstone stock opened at $165.09 on Friday. The company has a market cap of $119.20 billion, a PE ratio of 45.48, a price-to-earnings-growth ratio of 1.13 and a beta of 1.53. Blackstone Inc. has a 52 week low of $115.82 and a 52 week high of $200.96. The business has a 50 day moving average price of $176.53 and a 200-day moving average price of $164.11. 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 (NYSE:BX) last issued its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 EPS for the quarter, topping the consensus estimate of $1.50 by $0.19. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. Equities analysts anticipate that Blackstone Inc. will post 5.88 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Monday, February 10th will be given a dividend of $1.44 per share. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.49%. This is an increase from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend is Monday, February 10th. Blackstone’s dividend payout ratio (DPR) is presently 158.68%.

Analyst Ratings Changes

A number of equities research analysts have commented on BX shares. Piper Sandler upped their price target on Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a research report on Monday, December 23rd. Bank of America upped their target price on Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a research report on Friday, October 18th. TD Cowen upgraded Blackstone from a “hold” rating to a “buy” rating and upped their target price for the company from $149.00 to $230.00 in a research report on Monday, December 9th. BMO Capital Markets upped their target price on Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a research report on Thursday, December 19th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Thirteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $172.38.

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.