Blackstone Inc. (NYSE:BX) Shares Purchased by Personal CFO Solutions LLC

Personal CFO Solutions LLC boosted its position in shares of Blackstone Inc. (NYSE:BX) by 23.3% in the 4th quarter, HoldingsChannel reports. The fund owned 4,474 shares of the asset manager’s stock after acquiring an additional 845 shares during the period. Personal CFO Solutions LLC’s holdings in Blackstone were worth $771,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BX. Van ECK Associates Corp boosted its position in shares of Blackstone by 19.4% during the 3rd quarter. Van ECK Associates Corp now owns 20,094 shares of the asset manager’s stock worth $3,355,000 after acquiring an additional 3,271 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Blackstone by 27.5% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 17,438 shares of the asset manager’s stock valued at $2,670,000 after buying an additional 3,762 shares in the last quarter. Portside Wealth Group LLC acquired a new position in shares of Blackstone in the 3rd quarter valued at $201,000. Equitable Trust Co. boosted its stake in Blackstone by 9.4% in the third quarter. Equitable Trust Co. now owns 3,472 shares of the asset manager’s stock valued at $532,000 after acquiring an additional 297 shares in the last quarter. Finally, Verdence Capital Advisors LLC boosted its stake in Blackstone by 1.4% in the third quarter. Verdence Capital Advisors LLC now owns 8,410 shares of the asset manager’s stock valued at $1,288,000 after acquiring an additional 119 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on BX shares. BMO Capital Markets upped their target price on Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a research report on Thursday, December 19th. StockNews.com cut shares of Blackstone from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Barclays reiterated an “equal weight” rating on shares of Blackstone in a research note on Friday, February 7th. TD Cowen upgraded shares of Blackstone from a “hold” rating to a “buy” rating and increased their target price for the stock from $149.00 to $230.00 in a research note on Monday, December 9th. Finally, Piper Sandler increased their price objective on Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a research report on Monday, December 23rd. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $172.38.

Blackstone Price Performance

BX stock opened at $145.12 on Monday. 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 market cap of $105.86 billion, a price-to-earnings ratio of 39.98, a PEG ratio of 1.07 and a beta of 1.55. The firm has a 50 day moving average of $169.33 and a 200-day moving average of $167.23. Blackstone Inc. has a 12-month low of $115.82 and a 12-month high of $200.96.

Blackstone (NYSE:BX) last issued its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, topping 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%. As a group, equities analysts expect that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th were paid a dividend of $1.44 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.97%. This is an increase from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s dividend payout ratio is currently 158.68%.

Insider Activity

In related news, Director Ruth Porat purchased 301 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was purchased at an average price of $164.85 per share, with a total value of $49,619.85. Following the completion of the transaction, the director now owns 36,829 shares of the company’s stock, valued at approximately $6,071,260.65. This trade represents a 0.82 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.00% of the company’s stock.

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.