PKS Advisory Services LLC Makes New $2.15 Million Investment in Blackstone Inc. (NYSE:BX)

PKS Advisory Services LLC purchased a new position in Blackstone Inc. (NYSE:BX) in the fourth quarter, HoldingsChannel reports. The fund purchased 12,467 shares of the asset manager’s stock, valued at approximately $2,150,000.

Other large investors have also bought and sold shares of the company. Glen Eagle Advisors LLC grew its stake in Blackstone by 1.8% in the third quarter. Glen Eagle Advisors LLC now owns 3,251 shares of the asset manager’s stock worth $498,000 after purchasing an additional 59 shares during the period. Avidian Wealth Enterprises LLC increased its stake 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 worth $2,790,000 after acquiring an additional 59 shares in the last quarter. Investmark Advisory Group LLC boosted its stake in Blackstone by 2.4% during the third quarter. Investmark Advisory Group LLC now owns 2,608 shares of the asset manager’s stock worth $399,000 after acquiring an additional 60 shares in the last quarter. McIlrath & Eck LLC increased its stake in shares of Blackstone by 6.5% during the third quarter. McIlrath & Eck LLC now owns 1,019 shares of the asset manager’s stock valued at $156,000 after purchasing an additional 62 shares in the last quarter. Finally, McAdam LLC boosted its position in shares of Blackstone by 3.9% in the 4th quarter. McAdam LLC now owns 1,687 shares of the asset manager’s stock worth $291,000 after purchasing an additional 63 shares in the last quarter. 70.00% of the stock is owned by institutional investors.

Blackstone Stock Performance

Shares of BX opened at $152.13 on Tuesday. Blackstone Inc. has a 52 week low of $115.82 and a 52 week high of $200.96. 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 stock has a market cap of $110.97 billion, a price-to-earnings ratio of 41.91, a PEG ratio of 1.07 and a beta of 1.55. The business has a 50-day simple moving average of $163.26 and a two-hundred day simple moving average of $167.59.

Blackstone (NYSE:BX) last issued its quarterly earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share 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%. On average, analysts expect that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 10th were paid a dividend of $1.44 per share. This represents a $5.76 annualized dividend and a yield of 3.79%. The ex-dividend date of this dividend was Monday, February 10th. This is an increase from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s dividend payout ratio (DPR) is 158.68%.

Insiders Place Their Bets

In other news, Director Ruth Porat acquired 301 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was purchased at an average price of $164.85 per share, for a total transaction of $49,619.85. Following the completion of the transaction, the director now directly owns 36,829 shares in the company, valued at approximately $6,071,260.65. This trade represents a 0.82 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on BX shares. StockNews.com downgraded Blackstone from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Keefe, Bruyette & Woods boosted their price objective on shares of Blackstone from $174.00 to $177.00 and gave the stock a “market perform” rating in a report on Friday, January 31st. Piper Sandler boosted their price target on Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a research note on Monday, December 23rd. BMO Capital Markets lifted their price objective on Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a report on Thursday, December 19th. Finally, UBS Group raised shares of Blackstone from a “neutral” rating to a “buy” rating and set a $180.00 price target on the stock in a report on Monday, March 17th. Twelve equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $171.13.

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.