Angeles Investment Advisors LLC Acquires 240 Shares of Blackstone Inc. (NYSE:BX)

Angeles Investment Advisors LLC grew its holdings in Blackstone Inc. (NYSE:BX) by 8.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,968 shares of the asset manager’s stock after acquiring an additional 240 shares during the period. Angeles Investment Advisors LLC’s holdings in Blackstone were worth $512,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Congress Wealth Management LLC DE raised its position in shares of Blackstone by 59.8% during the 4th quarter. Congress Wealth Management LLC DE now owns 22,086 shares of the asset manager’s stock valued at $3,808,000 after purchasing an additional 8,262 shares during the period. Vanguard Group Inc. raised its position in shares of Blackstone by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 66,894,632 shares of the asset manager’s stock valued at $11,533,972,000 after purchasing an additional 889,286 shares during the period. Stevens Capital Management LP bought a new stake in shares of Blackstone during the 4th quarter valued at $840,000. LPL Financial LLC raised its position in shares of Blackstone by 12.3% during the 4th quarter. LPL Financial LLC now owns 1,067,919 shares of the asset manager’s stock valued at $184,130,000 after purchasing an additional 117,354 shares during the period. Finally, Mosley Wealth Management raised its position in shares of Blackstone by 4.6% during the 4th quarter. Mosley Wealth Management now owns 3,974 shares of the asset manager’s stock valued at $737,000 after purchasing an additional 173 shares during the period. 70.00% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on BX shares. Keefe, Bruyette & Woods lifted their price target on shares of Blackstone from $174.00 to $177.00 and gave the company a “market perform” rating in a report on Friday, January 31st. TD Cowen upgraded shares of Blackstone from a “hold” rating to a “buy” rating and lifted their price target for the company from $149.00 to $230.00 in a report on Monday, December 9th. JPMorgan Chase & Co. lifted their price target on shares of Blackstone from $149.00 to $154.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Citigroup reiterated a “hold” rating on shares of Blackstone in a report on Friday, February 7th. Finally, UBS Group upgraded shares of Blackstone from a “neutral” rating to a “buy” rating and set a $180.00 price target on the stock in a report on Monday, March 17th. Twelve analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $171.13.

Blackstone Price Performance

BX stock opened at $148.65 on Monday. Blackstone Inc. has a 12 month low of $115.82 and a 12 month high of $200.96. 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 company has a 50-day moving average price of $163.53 and a 200 day moving average price of $167.49. The stock has a market cap of $108.43 billion, a PE ratio of 40.95, a P/E/G ratio of 1.07 and a beta of 1.55.

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

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th were issued a $1.44 dividend. The ex-dividend date was Monday, February 10th. This represents a $5.76 annualized dividend and a dividend yield of 3.87%. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s payout ratio is currently 158.68%.

Insider Buying and Selling

In related news, Director Ruth Porat purchased 301 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was acquired at an average price of $164.85 per share, with a total value of $49,619.85. Following the completion of the acquisition, the director now owns 36,829 shares in the company, valued at approximately $6,071,260.65. This represents a 0.82 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 1.00% of the stock is currently owned by company insiders.

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.