Fairvoy Private Wealth LLC Purchases Shares of 1,561 Blackstone Inc. (NYSE:BX)

Fairvoy Private Wealth LLC bought a new stake in shares of Blackstone Inc. (NYSE:BX) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 1,561 shares of the asset manager’s stock, valued at approximately $269,000.

Several other institutional investors and hedge funds also recently modified their holdings of BX. Glen Eagle Advisors LLC lifted its position in Blackstone by 1.8% in the third quarter. Glen Eagle Advisors LLC now owns 3,251 shares of the asset manager’s stock worth $498,000 after purchasing an additional 59 shares during the period. Investmark Advisory Group LLC lifted its holdings in shares of Blackstone by 2.4% in the third quarter. Investmark Advisory Group LLC now owns 2,608 shares of the asset manager’s stock valued at $399,000 after buying an additional 60 shares during the period. Raleigh Capital Management Inc. grew its holdings in 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 acquiring an additional 62 shares during the period. Capital Advisors Ltd. LLC lifted its holdings in Blackstone by 2.3% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 2,787 shares of the asset manager’s stock valued at $427,000 after acquiring an additional 62 shares during the last quarter. Finally, Fidelis Capital Partners LLC raised its holdings in shares of Blackstone by 2.7% in the 3rd quarter. Fidelis Capital Partners LLC now owns 2,374 shares of the asset manager’s stock worth $396,000 after purchasing an additional 62 shares in the last quarter. Institutional investors own 70.00% of the company’s stock.

Blackstone Price Performance

Shares of Blackstone stock opened at $170.11 on Friday. The stock has a market capitalization of $122.82 billion, a price-to-earnings ratio of 46.86, a PEG ratio of 1.18 and a beta of 1.53. 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 Inc. has a 1-year low of $115.82 and a 1-year high of $200.96. The firm has a fifty day simple moving average of $178.78 and a 200-day simple moving average of $163.28.

Blackstone (NYSE:BX) last announced its earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share for the quarter, beating 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, sell-side analysts expect that Blackstone Inc. will post 5.86 earnings per share for the current year.

Blackstone Increases Dividend

The business also recently declared 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 3.39%. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date is Monday, February 10th. Blackstone’s dividend payout ratio (DPR) is currently 94.77%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on BX shares. UBS Group lifted their price target on shares of Blackstone from $170.00 to $180.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. StockNews.com lowered shares of Blackstone from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. TD Cowen upgraded Blackstone from a “hold” rating to a “buy” rating and increased their target price for the company from $149.00 to $230.00 in a report on Monday, December 9th. Keefe, Bruyette & Woods increased their price objective on Blackstone from $174.00 to $177.00 and gave the stock a “market perform” rating in a research note on Friday, January 31st. Finally, Citigroup increased their price target on shares of Blackstone from $170.00 to $190.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $172.38.

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.