Private Wealth Partners LLC Acquires 1,172 Shares of Blackstone Inc. (NYSE:BX)

Private Wealth Partners LLC increased its holdings in Blackstone Inc. (NYSE:BX) by 3.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,806 shares of the asset manager’s stock after acquiring an additional 1,172 shares during the period. Private Wealth Partners LLC’s holdings in Blackstone were worth $6,346,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Bangor Savings Bank lifted its holdings 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 purchasing an additional 105 shares in the last quarter. Hager Investment Management Services LLC bought a new position in Blackstone during the 4th quarter valued at $28,000. Berbice Capital Management LLC bought a new stake in shares of Blackstone in the 4th quarter worth $34,000. Comprehensive Financial Planning Inc. PA bought a new position in shares of Blackstone during the fourth quarter valued at about $34,000. Finally, Roxbury Financial LLC purchased a new position in Blackstone during the fourth quarter worth about $34,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on BX shares. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. boosted their price objective on Blackstone from $149.00 to $154.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Piper Sandler lifted their target price on Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a research note on Monday, December 23rd. TD Cowen upgraded shares of Blackstone from a “hold” rating to a “buy” rating and increased their price target for the company from $149.00 to $230.00 in a research report on Monday, December 9th. Finally, Barclays dropped their target price on shares of Blackstone from $192.00 to $186.00 and set an “equal weight” rating on the stock in a research note on Friday, January 31st. Thirteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Blackstone currently has a consensus rating of “Hold” and an average price target of $172.38.

Blackstone Stock Performance

NYSE:BX opened at $166.81 on Thursday. Blackstone Inc. has a 52-week low of $115.82 and a 52-week high of $200.96. The business’s fifty day moving average is $174.71 and its 200 day moving average is $165.04. 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 cap of $120.44 billion, a price-to-earnings ratio of 45.95, a PEG ratio of 1.07 and a beta of 1.53.

Blackstone (NYSE:BX) last released its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 EPS for the quarter, beating 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%. Research analysts predict that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 10th were paid 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 annualized dividend and a yield of 3.45%. Blackstone’s dividend payout ratio (DPR) is currently 158.68%.

About Blackstone

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.