Comprehensive Financial Planning Inc. PA Takes Position in Blackstone Inc. (NYSE:BX)

Comprehensive Financial Planning Inc. PA acquired a new stake in shares of Blackstone Inc. (NYSE:BX) in the 4th quarter, HoldingsChannel reports. The fund acquired 200 shares of the asset manager’s stock, valued at approximately $34,000.

Other hedge funds also recently bought and sold shares of the company. Harbour Trust & Investment Management Co boosted its holdings in Blackstone by 3.2% in the fourth quarter. Harbour Trust & Investment Management Co now owns 62,146 shares of the asset manager’s stock valued at $10,715,000 after acquiring an additional 1,920 shares in the last quarter. Angeles Wealth Management LLC raised its stake in Blackstone by 1.2% in the fourth quarter. Angeles Wealth Management LLC now owns 11,743 shares of the asset manager’s stock worth $2,025,000 after buying an additional 143 shares in the last quarter. Focused Wealth Management Inc grew its holdings in shares of Blackstone by 0.4% during the 4th quarter. Focused Wealth Management Inc now owns 49,143 shares of the asset manager’s stock worth $8,473,000 after acquiring an additional 201 shares during the period. Newbridge Financial Services Group Inc. raised its holdings in Blackstone by 2.4% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 2,723 shares of the asset manager’s stock worth $469,000 after purchasing an additional 65 shares in the last quarter. Finally, Kestra Private Wealth Services LLC grew its position in shares of Blackstone by 5.2% in the 4th quarter. Kestra Private Wealth Services LLC now owns 58,419 shares of the asset manager’s stock worth $10,073,000 after buying an additional 2,883 shares during the period. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on BX shares. StockNews.com lowered Blackstone from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. UBS Group raised their price target on shares of Blackstone from $170.00 to $180.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Cowen reiterated a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. Barclays decreased their price target on shares of Blackstone from $192.00 to $186.00 and set an “equal weight” rating on the stock in a research report on Friday, January 31st. Finally, Piper Sandler increased 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. Thirteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $172.38.

Blackstone Trading Down 1.0 %

Shares of BX stock opened at $168.52 on Tuesday. The stock has a market capitalization of $121.67 billion, a price-to-earnings ratio of 46.42, a price-to-earnings-growth ratio of 1.13 and a beta of 1.53. The stock’s 50-day moving average price is $178.36 and its 200-day moving average price is $163.80. 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 Inc. has a 12-month low of $115.82 and a 12-month high of $200.96.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, beating 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%. Equities research analysts predict that Blackstone Inc. will post 5.88 EPS for the current fiscal year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Monday, February 10th will be paid a dividend of $1.44 per share. The ex-dividend date of this dividend is Monday, February 10th. This is a boost from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.42%. Blackstone’s payout ratio 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.