Financial Advocates Investment Management Increases Stock Holdings in Blackstone Inc. (NYSE:BX)

Financial Advocates Investment Management boosted its position in Blackstone Inc. (NYSE:BX) by 2.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 6,852 shares of the asset manager’s stock after purchasing an additional 171 shares during the quarter. Financial Advocates Investment Management’s holdings in Blackstone were worth $1,182,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Brookstone Capital Management increased its holdings in shares of Blackstone by 4.2% in the 3rd quarter. Brookstone Capital Management now owns 5,994 shares of the asset manager’s stock worth $918,000 after buying an additional 244 shares during the last quarter. CWM LLC increased its stake in Blackstone by 5.2% in the third quarter. CWM LLC now owns 40,876 shares of the asset manager’s stock valued at $6,259,000 after acquiring an additional 2,031 shares during the last quarter. Wedmont Private Capital lifted its stake in Blackstone by 23.2% during the third quarter. Wedmont Private Capital now owns 7,324 shares of the asset manager’s stock worth $1,092,000 after purchasing an additional 1,377 shares during the last quarter. Quotient Wealth Partners LLC increased its position in shares of Blackstone by 43.3% during the 3rd quarter. Quotient Wealth Partners LLC now owns 2,599 shares of the asset manager’s stock valued at $398,000 after purchasing an additional 785 shares during the last quarter. Finally, Constellation Investimentos e Participacoes Ltda bought a new stake in Blackstone in the 3rd quarter worth approximately $442,000. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BX has been the topic of several research reports. Piper Sandler lifted their price target on shares of Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a research note on Monday, December 23rd. TD Cowen upgraded shares of Blackstone from a “hold” rating to a “buy” rating and upped their price target for the company from $149.00 to $230.00 in a research report on Monday, December 9th. StockNews.com downgraded Blackstone from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Evercore ISI raised their price target on Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Finally, Wells Fargo & Company dropped 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. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Blackstone presently has a consensus rating of “Hold” and an average target price of $172.38.

Blackstone Stock Down 2.5 %

BX stock opened at $170.11 on Friday. 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 price of $178.78 and a 200-day moving average price of $163.28. The stock has a market capitalization of $122.82 billion, a P/E ratio of 46.86, a P/E/G ratio of 1.18 and a beta of 1.53. 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 (NYSE:BX) last released its quarterly earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share (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%. Equities analysts forecast that Blackstone Inc. will post 5.86 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th will be paid a dividend of $1.44 per share. This is a boost from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend is Monday, February 10th. This represents a $5.76 dividend on an annualized basis and a yield of 3.39%. Blackstone’s dividend payout ratio (DPR) is presently 94.77%.

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.