1,558 Shares in Blackstone Inc. (NYSE:BX) Bought by GC Wealth Management RIA LLC

GC Wealth Management RIA LLC purchased a new position in shares of Blackstone Inc. (NYSE:BX) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 1,558 shares of the asset manager’s stock, valued at approximately $269,000.

A number of other hedge funds have also bought and sold shares of the business. Bangor Savings Bank raised its stake in shares of Blackstone by 187.5% in the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after buying an additional 105 shares during the period. Hager Investment Management Services LLC bought a new stake in shares of Blackstone in the fourth quarter valued at $28,000. Centricity Wealth Management LLC bought a new stake in shares of Blackstone in the fourth quarter valued at $30,000. Roxbury Financial LLC bought a new stake in shares of Blackstone in the fourth quarter valued at $34,000. Finally, Berbice Capital Management LLC bought a new stake in shares of Blackstone in the fourth quarter valued at $34,000. 70.00% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Ruth Porat purchased 301 shares of Blackstone stock in a transaction that occurred on Tuesday, February 18th. The shares were acquired at an average cost of $164.85 per share, for a total transaction of $49,619.85. Following the transaction, the director now directly owns 36,829 shares in the company, valued at $6,071,260.65. The trade was a 0.82 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is owned by corporate insiders.

Blackstone Price Performance

BX opened at $138.02 on Wednesday. The stock has a 50-day moving average price of $167.98 and a 200-day moving average price of $167.25. Blackstone Inc. has a 12-month low of $115.82 and a 12-month high of $200.96. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $100.67 billion, a P/E ratio of 38.02, a PEG ratio of 1.07 and a beta of 1.55.

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

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 10th were given a dividend of $1.44 per share. This represents a $5.76 annualized dividend and a yield of 4.17%. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Monday, February 10th. Blackstone’s dividend payout ratio (DPR) is presently 158.68%.

Analyst Ratings Changes

Several brokerages have issued reports on BX. BMO Capital Markets boosted their target price on Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a research note on Thursday, December 19th. Piper Sandler boosted 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. UBS Group reiterated a “neutral” rating on shares of Blackstone in a research note on Monday, March 3rd. Barclays reiterated an “equal weight” rating on shares of Blackstone in a research note on Friday, February 7th. Finally, Wells Fargo & Company decreased their price objective on Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. Thirteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target 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.