SMART Wealth LLC Purchases 2,896 Shares of Blackstone Inc. (NYSE:BX)

SMART Wealth LLC lifted its position in shares of Blackstone Inc. (NYSE:BX) by 206.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,296 shares of the asset manager’s stock after acquiring an additional 2,896 shares during the period. SMART Wealth LLC’s holdings in Blackstone were worth $741,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. State Street Corp boosted its holdings in Blackstone by 1.2% in the third quarter. State Street Corp now owns 30,020,426 shares of the asset manager’s stock worth $4,597,028,000 after purchasing an additional 348,751 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Blackstone by 2.3% in the third quarter. Geode Capital Management LLC now owns 14,896,413 shares of the asset manager’s stock worth $2,272,227,000 after acquiring an additional 336,308 shares during the period. International Assets Investment Management LLC lifted its holdings in Blackstone by 15,357.3% in the third quarter. International Assets Investment Management LLC now owns 4,201,150 shares of the asset manager’s stock valued at $6,433,220,000 after acquiring an additional 4,173,971 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Blackstone by 1.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,931,411 shares of the asset manager’s stock valued at $602,017,000 after purchasing an additional 61,739 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Blackstone by 3.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,430,909 shares of the asset manager’s stock worth $525,375,000 after buying an additional 116,367 shares during the last quarter. 70.00% of the stock is owned by institutional investors.

Analyst Ratings Changes

BX has been the topic of several analyst reports. Evercore ISI lifted their price target on shares of Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Wells Fargo & Company reduced their price target on Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. TD Cowen upgraded Blackstone from a “hold” rating to a “buy” rating and boosted their price objective for the company from $149.00 to $230.00 in a research note on Monday, December 9th. Cowen reissued a “hold” rating on shares of Blackstone in a research note on Friday, October 18th. Finally, Citigroup increased their price target on Blackstone from $170.00 to $190.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Blackstone presently has a consensus rating of “Hold” and an average price target of $172.38.

Blackstone Trading Down 0.2 %

BX opened at $174.50 on Friday. The firm has a market cap of $125.99 billion, a P/E ratio of 48.07, a P/E/G ratio of 1.18 and a beta of 1.53. Blackstone Inc. has a 12 month low of $115.82 and a 12 month high of $200.96. The stock has a 50-day moving average of $179.07 and a 200 day moving average of $163.20. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 EPS for the quarter, topping 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, research analysts forecast that Blackstone Inc. will post 5.86 EPS for the current year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th will be given a $1.44 dividend. This represents a $5.76 annualized dividend and a yield of 3.30%. The ex-dividend date is Monday, February 10th. This is an increase from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s dividend payout ratio is 94.77%.

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.