Clarity Capital Partners LLC Boosts Position in Blackstone Inc. (NYSE:BX)

Clarity Capital Partners LLC grew its stake in Blackstone Inc. (NYSE:BX) by 26.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,004 shares of the asset manager’s stock after acquiring an additional 419 shares during the period. Clarity Capital Partners LLC’s holdings in Blackstone were worth $346,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of BX. Carnegie Investment Counsel purchased a new position in shares of Blackstone during the third quarter valued at $220,000. Exchange Traded Concepts LLC increased its position in Blackstone by 2,188.2% during the 3rd quarter. Exchange Traded Concepts LLC now owns 1,167 shares of the asset manager’s stock valued at $179,000 after purchasing an additional 1,116 shares during the period. CX Institutional boosted its stake in shares of Blackstone by 4.8% during the third quarter. CX Institutional now owns 2,663 shares of the asset manager’s stock valued at $408,000 after purchasing an additional 122 shares in the last quarter. Creative Planning raised its stake in Blackstone by 4.2% in the third quarter. Creative Planning now owns 237,936 shares of the asset manager’s stock worth $36,435,000 after buying an additional 9,668 shares in the last quarter. Finally, CFM Wealth Partners LLC lifted its holdings in Blackstone by 21.8% during the third quarter. CFM Wealth Partners LLC now owns 2,434 shares of the asset manager’s stock worth $373,000 after buying an additional 435 shares during the period. Institutional investors own 70.00% of the company’s stock.

Blackstone Stock Performance

NYSE BX opened at $160.90 on Thursday. Blackstone Inc. has a fifty-two week low of $115.82 and a fifty-two week high of $200.96. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67. The firm has a market capitalization of $116.17 billion, a P/E ratio of 44.33, a PEG ratio of 1.13 and a beta of 1.53. The stock has a 50-day simple moving average of $177.56 and a two-hundred day simple moving average of $164.16.

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

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Monday, February 10th will be paid a $1.44 dividend. This represents a $5.76 annualized dividend and a dividend yield of 3.58%. The ex-dividend date is Monday, February 10th. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s payout ratio is currently 94.77%.

Analyst Ratings Changes

A number of brokerages recently weighed in on BX. The Goldman Sachs Group upped their price objective on Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a report on Monday, November 11th. Bank of America raised their target price on shares of Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Citigroup increased their price objective on Blackstone from $170.00 to $190.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Finally, JPMorgan Chase & Co. increased their price target on Blackstone from $149.00 to $154.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Thirteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $172.38.

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.