Aveo Capital Partners LLC Acquires Shares of 3,637 Blackstone Inc. (NYSE:BX)

Aveo Capital Partners LLC acquired a new stake in shares of Blackstone Inc. (NYSE:BX) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,637 shares of the asset manager’s stock, valued at approximately $627,000.

Other large investors have also recently added to or reduced their stakes in the company. Sather Financial Group Inc raised its holdings in shares of Blackstone by 202.5% during 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 acquired a new stake in Blackstone during the third quarter worth $201,000. Aljian Capital Management LLC acquired a new stake in Blackstone during the third quarter worth $1,951,000. Icon Wealth Advisors LLC boosted its stake in Blackstone by 2,185.4% during the third quarter. Icon Wealth Advisors LLC now owns 18,946 shares of the asset manager’s stock worth $2,901,000 after buying an additional 18,117 shares in the last quarter. Finally, Wealthcare Capital Partners LLC acquired a new stake in shares of Blackstone in the 4th quarter valued at $2,102,000. 70.00% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. UBS Group lifted their price target on Blackstone from $170.00 to $180.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Piper Sandler upped their price target on Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a research note on Monday, December 23rd. TD Cowen raised Blackstone from a “hold” rating to a “buy” rating and upped their price target for the company from $149.00 to $230.00 in a research note on Monday, December 9th. Deutsche Bank Aktiengesellschaft upped their price target on Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, Citigroup upped their price target on 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. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $172.38.

Blackstone Price Performance

Shares of NYSE BX opened at $165.09 on Friday. The firm has a market capitalization of $119.19 billion, a P/E ratio of 45.48, a P/E/G ratio of 1.13 and a beta of 1.53. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. The stock’s 50-day simple moving average is $176.09 and its two-hundred day simple moving average is $164.28. Blackstone Inc. has a twelve month low of $115.82 and a twelve month high of $200.96.

Blackstone (NYSE:BX) last announced its quarterly 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 net margin of 20.99% and a return on equity of 19.58%. As a group, equities analysts anticipate that Blackstone Inc. will post 5.88 EPS for the current fiscal year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th will be issued a dividend of $1.44 per share. The ex-dividend date is Monday, February 10th. This is an increase from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 annualized dividend and a dividend yield of 3.49%. Blackstone’s dividend payout ratio (DPR) is presently 94.77%.

Blackstone 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.