Financial Engines Advisors L.L.C. Purchases New Holdings in Blackstone Inc. (NYSE:BX)

Financial Engines Advisors L.L.C. purchased a new position in shares of Blackstone Inc. (NYSE:BX) in the 4th quarter, HoldingsChannel reports. The institutional investor purchased 3,115 shares of the asset manager’s stock, valued at approximately $537,000.

Other institutional investors also recently bought and sold shares of the company. Glen Eagle Advisors LLC lifted its position in shares of Blackstone by 1.8% during the 3rd quarter. Glen Eagle Advisors LLC now owns 3,251 shares of the asset manager’s stock valued at $498,000 after acquiring an additional 59 shares during the period. Avidian Wealth Enterprises LLC boosted its position in 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 in the last quarter. Investmark Advisory Group LLC increased its position in shares of Blackstone by 2.4% in the third 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 in 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 acquiring an additional 62 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. raised its position in Blackstone by 0.5% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,426 shares of the asset manager’s stock worth $1,970,000 after acquiring an additional 62 shares during the last quarter. 70.00% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently weighed in on BX. Piper Sandler boosted their price target on Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a report on Monday, December 23rd. BMO Capital Markets upped their target price on shares of Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a report on Thursday, December 19th. TD Cowen raised shares of Blackstone from a “hold” rating to a “buy” rating and boosted their price objective for the company from $149.00 to $230.00 in a research report on Monday, December 9th. UBS Group raised shares of Blackstone from a “neutral” rating to a “buy” rating and set a $180.00 target price for the company in a research note on Monday, March 17th. Finally, Wells Fargo & Company decreased their price objective on Blackstone from $180.00 to $160.00 and set an “equal weight” rating on the stock in a report on Thursday, March 20th. Twelve 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 has a consensus rating of “Hold” and an average price target of $171.13.

Insiders Place Their Bets

In other Blackstone news, Director Ruth Porat acquired 301 shares of Blackstone 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 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 document filed with the SEC, which is available through this hyperlink. 1.00% of the stock is currently owned by insiders.

Blackstone Stock Performance

BX opened at $144.81 on Friday. Blackstone Inc. has a twelve month low of $115.82 and a twelve month high of $200.96. The stock has a market cap of $105.62 billion, a PE ratio of 39.89, a price-to-earnings-growth ratio of 1.07 and a beta of 1.55. The business’s 50 day moving average is $161.69 and its 200-day moving average is $167.38. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61.

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 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%. On average, analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date was Monday, February 10th. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s dividend payout ratio (DPR) is currently 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.