LMG Wealth Partners LLC Buys 98 Shares of Blackstone Inc. (NYSE:BX)

LMG Wealth Partners LLC grew its position in shares of Blackstone Inc. (NYSE:BX) by 1.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 9,488 shares of the asset manager’s stock after acquiring an additional 98 shares during the period. LMG Wealth Partners LLC’s holdings in Blackstone were worth $1,636,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sather Financial Group Inc grew its holdings in Blackstone by 202.5% in the third quarter. Sather Financial Group Inc now owns 6,050 shares of the asset manager’s stock worth $926,000 after purchasing an additional 4,050 shares during the period. Portside Wealth Group LLC bought a new position in Blackstone during the 3rd quarter valued at approximately $201,000. Aljian Capital Management LLC bought a new stake in Blackstone in the third quarter worth $1,951,000. Icon Wealth Advisors LLC increased its holdings in shares of Blackstone by 2,185.4% during the third quarter. Icon Wealth Advisors LLC now owns 18,946 shares of the asset manager’s stock valued at $2,901,000 after acquiring an additional 18,117 shares in the last quarter. Finally, Wealthcare Capital Partners LLC purchased a new position in shares of Blackstone in the 4th quarter worth about $2,102,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Stock Up 0.0 %

BX stock opened at $166.81 on Thursday. The business’s 50-day moving average price is $174.71 and its 200-day moving average price is $165.04. The stock has a market cap of $120.44 billion, a P/E ratio of 45.95, a PEG ratio of 1.07 and a beta of 1.53. Blackstone Inc. has a twelve month low of $115.82 and a twelve month high of $200.96. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61.

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

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were paid a $1.44 dividend. This represents a $5.76 annualized dividend and a yield of 3.45%. This is an increase from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Monday, February 10th. Blackstone’s dividend payout ratio is presently 158.68%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on BX. BMO Capital Markets lifted their target price on shares of Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a report on Thursday, December 19th. JPMorgan Chase & Co. upped their price objective on Blackstone from $149.00 to $154.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Barclays decreased their price target on Blackstone from $192.00 to $186.00 and set an “equal weight” rating for the company in a research note on Friday, January 31st. UBS Group lifted their price objective on Blackstone from $170.00 to $180.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Finally, Piper Sandler raised their price target on shares of Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a report on Monday, December 23rd. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average 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.