Blackstone Inc. (NYSE:BX) Shares Bought by Linscomb Wealth Inc.

Linscomb Wealth Inc. raised its position in shares of Blackstone Inc. (NYSE:BX) by 4.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,111 shares of the asset manager’s stock after purchasing an additional 271 shares during the period. Linscomb Wealth Inc.’s holdings in Blackstone were worth $1,226,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. QRG Capital Management Inc. grew its holdings in Blackstone by 11.3% in the 4th quarter. QRG Capital Management Inc. now owns 122,080 shares of the asset manager’s stock worth $21,049,000 after buying an additional 12,360 shares in the last quarter. Proficio Capital Partners LLC grew its stake in shares of Blackstone by 2,057.7% in the fourth quarter. Proficio Capital Partners LLC now owns 844,755 shares of the asset manager’s stock worth $145,653,000 after purchasing an additional 805,604 shares in the last quarter. Cable Hill Partners LLC bought a new stake in shares of Blackstone during the fourth quarter valued at about $202,000. Oregon Public Employees Retirement Fund grew its position in Blackstone by 0.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 61,905 shares of the asset manager’s stock valued at $10,674,000 after buying an additional 290 shares in the last quarter. Finally, Fjell Capital LLC bought a new stake in shares of Blackstone during the 4th quarter worth about $1,190,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on BX. Citigroup reiterated a “hold” rating on shares of Blackstone in a research note on Friday, February 7th. BMO Capital Markets boosted their price objective on Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a research note on Thursday, December 19th. Deutsche Bank Aktiengesellschaft lifted their target price on Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Wells Fargo & Company cut their price target on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. Finally, Barclays reiterated an “equal weight” rating on shares of Blackstone in a report on Friday, February 7th. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $172.38.

Insider Buying and Selling at Blackstone

In other Blackstone news, Director Ruth Porat bought 301 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was bought at an average cost of $164.85 per share, with a total value of $49,619.85. Following the completion of the transaction, the director now directly owns 36,829 shares of the company’s stock, valued at approximately $6,071,260.65. The trade was a 0.82 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.00% of the company’s stock.

Blackstone Stock Performance

Shares of BX stock opened at $161.01 on Friday. The stock’s fifty day simple moving average is $171.77 and its 200-day simple moving average is $166.23. The company has a market capitalization of $116.25 billion, a price-to-earnings ratio of 44.35, a P/E/G ratio of 1.07 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.

Blackstone (NYSE:BX) last posted its quarterly earnings results 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, sell-side analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 10th were issued a dividend of $1.44 per share. This represents a $5.76 annualized dividend and a dividend yield of 3.58%. This is a positive change 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 (DPR) is currently 158.68%.

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.