SVB Wealth LLC Has $25.58 Million Holdings in Blackstone Inc. (NYSE:BX)

SVB Wealth LLC boosted its stake in shares of Blackstone Inc. (NYSE:BX) by 4,449.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 148,351 shares of the asset manager’s stock after acquiring an additional 145,090 shares during the quarter. Blackstone accounts for 0.5% of SVB Wealth LLC’s portfolio, making the stock its 27th largest position. SVB Wealth LLC’s holdings in Blackstone were worth $25,579,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Bangor Savings Bank lifted its holdings in Blackstone by 187.5% during the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 105 shares during the last quarter. Hager Investment Management Services LLC bought a new position in shares of Blackstone in the fourth quarter valued at approximately $28,000. Centricity Wealth Management LLC acquired a new position in shares of Blackstone in the 4th quarter worth approximately $30,000. Berbice Capital Management LLC acquired a new stake in Blackstone during the 4th quarter valued at $34,000. Finally, Comprehensive Financial Planning Inc. PA bought a new position in Blackstone in the 4th quarter valued at $34,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Stock Performance

Shares of NYSE:BX opened at $161.01 on Friday. The company has a market capitalization of $116.25 billion, a price-to-earnings ratio of 44.35, a P/E/G ratio of 1.07 and a beta of 1.53. The firm’s 50 day simple moving average is $171.77 and its 200 day simple moving average is $166.23. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71. Blackstone Inc. has a fifty-two week low of $115.82 and a fifty-two week high of $200.96.

Blackstone (NYSE:BX) last announced its quarterly earnings results 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 net margin of 20.99% and a return on equity of 19.58%. As a group, sell-side analysts forecast that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th were issued a dividend of $1.44 per share. This represents a $5.76 annualized dividend and a dividend yield of 3.58%. The ex-dividend date of this dividend was Monday, February 10th. This is a boost from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s payout ratio is 158.68%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Piper Sandler raised their target price on Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a research note on Monday, December 23rd. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Keefe, Bruyette & Woods increased their price target on shares of Blackstone from $174.00 to $177.00 and gave the company a “market perform” rating in a research note on Friday, January 31st. BMO Capital Markets upped their price objective on Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a report on Thursday, December 19th. Finally, Wells Fargo & Company lowered their target price on Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. Thirteen research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Blackstone presently has an average rating of “Hold” and a consensus price target of $172.38.

Insiders Place Their Bets

In other news, Director Ruth Porat bought 301 shares of the stock in a transaction on Tuesday, February 18th. The stock was purchased at an average price of $164.85 per share, for a total transaction of $49,619.85. Following the acquisition, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 1.00% of the company’s stock.

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.