Blackstone Inc. (NYSE:BX) Shares Purchased by Westover Capital Advisors LLC

Westover Capital Advisors LLC increased its holdings in shares of Blackstone Inc. (NYSE:BX) by 3.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,876 shares of the asset manager’s stock after acquiring an additional 210 shares during the quarter. Westover Capital Advisors LLC’s holdings in Blackstone were worth $1,186,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Glen Eagle Advisors LLC grew its stake in Blackstone by 1.8% in the 3rd quarter. Glen Eagle Advisors LLC now owns 3,251 shares of the asset manager’s stock valued at $498,000 after buying an additional 59 shares during the last quarter. Avidian Wealth Enterprises LLC grew its stake in 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 stake in 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. McIlrath & Eck LLC grew its stake in Blackstone by 6.5% in the 3rd quarter. McIlrath & Eck LLC now owns 1,019 shares of the asset manager’s stock valued at $156,000 after buying an additional 62 shares during the last quarter. Finally, McAdam LLC grew its position in 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 during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Transactions at Blackstone

In other Blackstone news, Director Ruth Porat purchased 301 shares of the stock in a transaction dated Tuesday, February 18th. The stock was bought 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 in the company, valued at $6,071,260.65. This represents a 0.82 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 1.00% of the stock is owned by corporate insiders.

Blackstone Trading Down 1.7 %

Shares of BX stock opened at $158.36 on Tuesday. Blackstone Inc. has a 12-month low of $115.82 and a 12-month high of $200.96. The company has a market capitalization of $114.34 billion, a P/E ratio of 43.63, a P/E/G ratio of 1.07 and a beta of 1.53. The firm has a 50-day moving average price of $171.49 and a 200 day moving average price of $166.83. 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 announced its earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.19. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. Research analysts forecast that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th were given 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 was Monday, February 10th. This represents a $5.76 annualized dividend and a dividend yield of 3.64%. Blackstone’s payout ratio is currently 158.68%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on BX. Piper Sandler raised their price target on shares of Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a research report on Monday, December 23rd. JPMorgan Chase & Co. raised their price target on shares of Blackstone from $149.00 to $154.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Keefe, Bruyette & Woods raised their price target on shares of Blackstone from $174.00 to $177.00 and gave the stock a “market perform” rating in a research report on Friday, January 31st. StockNews.com lowered shares of Blackstone from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Finally, UBS Group reiterated a “neutral” rating on shares of Blackstone in a research 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 MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $172.38.

Blackstone Company 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.