Linscomb Wealth Inc. Has $1.23 Million Position in Blackstone Inc. (NYSE:BX)

Linscomb Wealth Inc. lifted its position in Blackstone Inc. (NYSE:BX) by 4.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 7,111 shares of the asset manager’s stock after purchasing an additional 271 shares during the period. Linscomb Wealth Inc.’s holdings in Blackstone were worth $1,226,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Glen Eagle Advisors LLC lifted its holdings in Blackstone by 1.8% during the third 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 in the last quarter. Avidian Wealth Enterprises LLC raised its position in shares of Blackstone by 0.4% during the fourth quarter. Avidian Wealth Enterprises LLC now owns 16,184 shares of the asset manager’s stock worth $2,790,000 after purchasing an additional 59 shares during the period. 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 purchasing an additional 60 shares during the period. McIlrath & Eck LLC raised its holdings in Blackstone by 6.5% during the 3rd quarter. McIlrath & Eck LLC now owns 1,019 shares of the asset manager’s stock worth $156,000 after buying an additional 62 shares during the period. Finally, McAdam LLC boosted its holdings in shares of Blackstone by 3.9% in the fourth quarter. McAdam LLC now owns 1,687 shares of the asset manager’s stock valued at $291,000 after buying an additional 63 shares during the period. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Analyst Ratings Changes

Several research firms recently commented on BX. BMO Capital Markets boosted their price objective on shares of Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a research report on Thursday, December 19th. Deutsche Bank Aktiengesellschaft upped their price objective on Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. UBS Group boosted their target price on Blackstone from $170.00 to $180.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Wells Fargo & Company lowered their price objective on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. Finally, Piper Sandler raised their target price on shares of Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a research report on Monday, December 23rd. Thirteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Blackstone has an average rating of “Hold” and an average price target of $172.38.

Blackstone Stock Performance

BX opened at $161.01 on Friday. 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 $116.25 billion, a price-to-earnings ratio of 44.35, a PEG ratio of 1.07 and a beta of 1.53. Blackstone Inc. has a 12-month low of $115.82 and a 12-month high of $200.96. The business has a 50 day moving average of $171.77 and a 200-day moving average of $166.23.

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

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th were given a $1.44 dividend. This is an increase from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.76 annualized dividend and a dividend yield of 3.58%. Blackstone’s dividend payout ratio is presently 158.68%.

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.