Blackstone Inc. (NYSE:BX) Shares Acquired by Modern Wealth Management LLC

Modern Wealth Management LLC grew its holdings in shares of Blackstone Inc. (NYSE:BX) by 2.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 12,800 shares of the asset manager’s stock after acquiring an additional 285 shares during the quarter. Modern Wealth Management LLC’s holdings in Blackstone were worth $2,158,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Wealthcare Capital Partners LLC acquired a new position in shares of Blackstone in the 4th quarter worth approximately $2,102,000. Highland Capital Management LLC raised its holdings in shares of Blackstone by 214.2% during the fourth quarter. Highland Capital Management LLC now owns 22,303 shares of the asset manager’s stock valued at $3,845,000 after acquiring an additional 15,205 shares during the period. Nordea Investment Management AB boosted its stake in Blackstone by 8.8% in the 4th quarter. Nordea Investment Management AB now owns 58,229 shares of the asset manager’s stock worth $10,053,000 after purchasing an additional 4,688 shares during the period. Dynamic Technology Lab Private Ltd raised its stake in Blackstone by 260.0% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 8,305 shares of the asset manager’s stock valued at $1,272,000 after purchasing an additional 5,998 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in shares of Blackstone by 6.1% in the third quarter. Principal Financial Group Inc. now owns 909,698 shares of the asset manager’s stock valued at $139,302,000 after purchasing an additional 51,897 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BX. JPMorgan Chase & Co. increased their price objective on Blackstone from $149.00 to $154.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. UBS Group upgraded shares of Blackstone from a “neutral” rating to a “buy” rating and set a $180.00 price target for the company in a report on Monday, March 17th. Keefe, Bruyette & Woods increased their target price 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. Barclays reaffirmed an “equal weight” rating on shares of Blackstone in a research note on Friday, February 7th. Finally, TD Cowen raised Blackstone from a “hold” rating to a “buy” rating and upped their target price for the stock from $149.00 to $230.00 in a research report on Monday, December 9th. Twelve investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Blackstone currently has an average rating of “Hold” and a consensus price target of $171.13.

Insider Activity

In other news, Director Ruth Porat acquired 301 shares of Blackstone stock in a transaction on 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 owns 36,829 shares of the company’s stock, valued at $6,071,260.65. The trade was a 0.82 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 1.00% of the stock is owned by company insiders.

Blackstone Stock Down 0.5 %

BX stock opened at $151.29 on Wednesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71. The company has a 50-day moving average of $162.90 and a two-hundred day moving average of $167.69. The stock has a market capitalization of $110.35 billion, a price-to-earnings ratio of 41.68, a price-to-earnings-growth ratio of 1.07 and a beta of 1.55. Blackstone Inc. has a 52-week low of $115.82 and a 52-week high of $200.96.

Blackstone (NYSE:BX) last issued its quarterly earnings results 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%. As a group, equities research analysts anticipate that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were given a $1.44 dividend. This represents a $5.76 annualized dividend and a yield of 3.81%. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Monday, February 10th. Blackstone’s dividend payout ratio (DPR) is currently 158.68%.

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.