Blackstone Inc. (NYSE:BX) Position Raised by Corient Private Wealth LLC

Corient Private Wealth LLC raised its position in Blackstone Inc. (NYSE:BX) by 3.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 356,099 shares of the asset manager’s stock after purchasing an additional 11,110 shares during the quarter. Corient Private Wealth LLC’s holdings in Blackstone were worth $56,545,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Sather Financial Group Inc lifted its stake in shares of Blackstone by 202.5% in the 3rd quarter. Sather Financial Group Inc now owns 6,050 shares of the asset manager’s stock worth $926,000 after acquiring an additional 4,050 shares during the period. Aljian Capital Management LLC acquired a new stake in Blackstone in the third quarter worth approximately $1,951,000. Icon Wealth Advisors LLC increased its position in shares of Blackstone by 2,185.4% during the 3rd quarter. Icon Wealth Advisors LLC now owns 18,946 shares of the asset manager’s stock valued at $2,901,000 after purchasing an additional 18,117 shares during the period. Wealthcare Capital Partners LLC acquired a new stake in shares of Blackstone in the fourth quarter valued at $2,102,000. Finally, Highland Capital Management LLC grew its holdings in Blackstone by 214.2% during the fourth quarter. Highland Capital Management LLC now owns 22,303 shares of the asset manager’s stock worth $3,845,000 after acquiring an additional 15,205 shares during the period. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. BMO Capital Markets boosted their target price on shares of Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a report on Thursday, December 19th. Wells Fargo & Company reduced their price objective 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. Citigroup reaffirmed a “hold” rating on shares of Blackstone in a report on Friday, February 7th. TD Cowen upgraded shares of Blackstone from a “hold” rating to a “buy” rating and raised their target price for the stock from $149.00 to $230.00 in a report on Monday, December 9th. Finally, Piper Sandler increased their target price on Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a report on Monday, December 23rd. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Blackstone presently has an average rating of “Hold” and a consensus target price of $172.38.

Blackstone Stock Performance

BX stock opened at $141.01 on Monday. The company has a quick ratio of 0.71, a current ratio of 0.67 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. The firm has a 50 day moving average of $165.90 and a two-hundred day moving average of $167.21. The company has a market capitalization of $102.86 billion, a price-to-earnings ratio of 38.85, a P/E/G ratio of 1.07 and a beta of 1.55.

Blackstone (NYSE:BX) last released its quarterly earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, topping 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%. As a group, equities analysts anticipate that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were given a dividend of $1.44 per share. 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. This represents a $5.76 dividend on an annualized basis and a yield of 4.08%. Blackstone’s payout ratio is currently 158.68%.

Insider Transactions at Blackstone

In related news, Director Ruth Porat bought 301 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was purchased at an average cost of $164.85 per share, for a total transaction of $49,619.85. Following the purchase, the director now directly owns 36,829 shares in the company, valued at $6,071,260.65. This trade represents a 0.82 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.00% of the stock is currently owned by corporate insiders.

Blackstone Company 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.