Blackstone Inc. (NYSE:BX) Shares Acquired by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC raised its holdings in Blackstone Inc. (NYSE:BX) by 5.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,419 shares of the asset manager’s stock after buying an additional 2,883 shares during the period. Kestra Private Wealth Services LLC’s holdings in Blackstone were worth $10,073,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Bangor Savings Bank boosted its stake in 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 acquiring an additional 105 shares in the last quarter. Hager Investment Management Services LLC acquired a new position in Blackstone in the 4th quarter valued at about $28,000. Berbice Capital Management LLC purchased a new position in shares of Blackstone in the 4th quarter valued at approximately $34,000. Raleigh Capital Management Inc. lifted its holdings in shares of Blackstone by 32.1% during the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after purchasing an additional 62 shares during the period. Finally, Kieckhefer Group LLC acquired a new position in Blackstone in the 4th quarter valued at $39,000. 70.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on BX. Wells Fargo & Company cut their price target on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. UBS Group raised their price objective on shares of Blackstone from $170.00 to $180.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Deutsche Bank Aktiengesellschaft raised their price objective on Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Piper Sandler raised their price target on Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a research report on Monday, December 23rd. Finally, Barclays cut their target price on shares of Blackstone from $192.00 to $186.00 and set an “equal weight” rating for the company in a research report on Friday, January 31st. Thirteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $172.38.

Blackstone Stock Down 2.5 %

Shares of NYSE:BX opened at $170.11 on Monday. Blackstone Inc. has a 12-month low of $115.82 and a 12-month high of $200.96. The stock’s 50-day moving average price is $178.36 and its two-hundred day moving average price is $163.62. 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 firm has a market cap of $122.82 billion, a price-to-earnings ratio of 46.86, a PEG ratio of 1.13 and a beta of 1.53.

Blackstone (NYSE:BX) last announced its quarterly earnings results 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 return on equity of 19.58% and a net margin of 20.99%. On average, research analysts forecast that Blackstone Inc. will post 5.88 EPS for the current year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th will be paid a dividend of $1.44 per share. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date of this dividend is Monday, February 10th. This is a boost from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s payout ratio is currently 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.