FAS Wealth Partners Inc. Raises Position in Blackstone Inc. (NYSE:BX)

FAS Wealth Partners Inc. lifted its stake in Blackstone Inc. (NYSE:BXFree Report) by 18.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,178 shares of the asset manager’s stock after buying an additional 2,938 shares during the period. FAS Wealth Partners Inc.’s holdings in Blackstone were worth $2,511,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Blackstone by 30.2% in the third quarter. Vanguard Group Inc. now owns 62,091,903 shares of the asset manager’s stock valued at $6,652,526,000 after purchasing an additional 14,396,655 shares during the last quarter. Morgan Stanley boosted its holdings in Blackstone by 3.7% in the fourth quarter. Morgan Stanley now owns 22,495,670 shares of the asset manager’s stock valued at $1,668,954,000 after purchasing an additional 798,734 shares during the last quarter. State Street Corp boosted its holdings in Blackstone by 2.1% in the first quarter. State Street Corp now owns 16,157,334 shares of the asset manager’s stock valued at $1,419,249,000 after purchasing an additional 332,962 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Blackstone by 13.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 14,825,769 shares of the asset manager’s stock valued at $1,588,433,000 after purchasing an additional 1,744,652 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Blackstone by 7.1% during the 1st quarter. Geode Capital Management LLC now owns 7,925,167 shares of the asset manager’s stock worth $695,952,000 after buying an additional 522,561 shares during the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Stock Down 3.6 %

Shares of Blackstone stock opened at $126.32 on Wednesday. The business’s fifty day moving average price is $126.33 and its two-hundred day moving average price is $116.41. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.80 and a quick ratio of 0.80. The company has a market capitalization of $90.27 billion, a P/E ratio of 69.03, a PEG ratio of 1.05 and a beta of 1.51. Blackstone Inc. has a 1-year low of $79.29 and a 1-year high of $133.56.

Blackstone (NYSE:BXGet Free Report) last announced its earnings results on Thursday, January 25th. The asset manager reported $1.11 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.16. The firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $2.48 billion. Blackstone had a return on equity of 17.30% and a net margin of 17.34%. During the same quarter in the previous year, the business earned $1.07 EPS. As a group, research analysts forecast that Blackstone Inc. will post 4.92 EPS for the current year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 12th. Stockholders of record on Monday, February 5th were paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date was Friday, February 2nd. This is an increase from Blackstone’s previous quarterly dividend of $0.80. Blackstone’s payout ratio is currently 205.46%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Morgan Stanley increased their target price on Blackstone from $120.00 to $144.00 and gave the stock an “overweight” rating in a report on Wednesday, January 24th. Keefe, Bruyette & Woods increased their target price on Blackstone from $123.00 to $127.00 and gave the stock a “market perform” rating in a report on Friday, January 26th. TheStreet downgraded Blackstone from a “b” rating to a “c+” rating in a report on Thursday, January 25th. JPMorgan Chase & Co. increased their target price on Blackstone from $91.00 to $96.00 and gave the stock a “neutral” rating in a report on Friday, January 26th. Finally, Wells Fargo & Company raised their price target on Blackstone from $127.00 to $130.00 and gave the stock an “overweight” rating in a report on Monday, January 22nd. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $119.25.

Read Our Latest Stock Analysis on Blackstone

Insider Transactions at Blackstone

In other news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the business’s stock in a transaction on Sunday, March 3rd. The stock was sold at an average price of $11.10, for a total value of $27,853,407.60. Following the sale, the insider now owns 12,802 shares of the company’s stock, valued at approximately $142,102.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of Blackstone stock in a transaction on Sunday, March 3rd. The stock was sold at an average price of $11.10, for a total value of $27,853,407.60. Following the transaction, the insider now directly owns 12,802 shares in the company, valued at approximately $142,102.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Reginald J. Brown bought 2,400 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was bought at an average price of $125.62 per share, for a total transaction of $301,488.00. Following the completion of the acquisition, the director now directly owns 16,949 shares in the company, valued at $2,129,133.38. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 2,587,168 shares of company stock valued at $37,816,476. Corporate insiders own 1.00% of the company’s stock.

Blackstone Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Blackstone (NYSE:BX)

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