Bigelow Investment Advisors LLC Buys 263 Shares of Blackstone Inc. (NYSE:BX)

Bigelow Investment Advisors LLC raised its holdings in Blackstone Inc. (NYSE:BX) by 7.0% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 4,024 shares of the asset manager’s stock after buying an additional 263 shares during the quarter. Bigelow Investment Advisors LLC’s holdings in Blackstone were worth $694,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in BX. Exchange Traded Concepts LLC grew its position in shares of Blackstone by 2,188.2% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,167 shares of the asset manager’s stock worth $179,000 after buying an additional 1,116 shares during the last quarter. First Citizens Bank & Trust Co. purchased a new position in shares of Blackstone in the 3rd quarter valued at approximately $227,000. Resonant Capital Advisors LLC purchased a new position in shares of Blackstone in the 3rd quarter valued at approximately $211,000. OLD National Bancorp IN lifted its stake in shares of Blackstone by 14.2% in the 3rd quarter. OLD National Bancorp IN now owns 6,446 shares of the asset manager’s stock valued at $987,000 after purchasing an additional 800 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Blackstone by 50.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 144,781 shares of the asset manager’s stock valued at $22,170,000 after purchasing an additional 48,601 shares during the period. 70.00% of the stock is currently owned by institutional investors.

Blackstone Stock Performance

Shares of BX opened at $166.59 on Wednesday. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. The business has a 50-day simple moving average of $175.23 and a two-hundred day simple moving average of $165.03. The stock has a market cap of $120.28 billion, a price-to-earnings ratio of 45.89, a PEG ratio of 1.13 and a beta of 1.53. 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 analysts’ consensus estimates 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 expect that Blackstone Inc. will post 5.88 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 is a boost from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date was Monday, February 10th. This represents a $5.76 dividend on an annualized basis and a yield of 3.46%. Blackstone’s dividend payout ratio is presently 94.77%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Keefe, Bruyette & Woods lifted their price objective on Blackstone from $174.00 to $177.00 and gave the company a “market perform” rating in a research note on Friday, January 31st. Piper Sandler lifted their price objective on Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a research note on Monday, December 23rd. Barclays reduced their target price on Blackstone from $192.00 to $186.00 and set an “equal weight” rating for the company in a report on Friday, January 31st. StockNews.com lowered Blackstone from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Thirteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $172.38.

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.