RWA Wealth Partners LLC Has $1.56 Million Stock Position in Blackstone Inc. (NYSE:BX)

RWA Wealth Partners LLC raised its holdings in shares of Blackstone Inc. (NYSE:BX) by 116.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,935 shares of the asset manager’s stock after purchasing an additional 6,409 shares during the quarter. RWA Wealth Partners LLC’s holdings in Blackstone were worth $1,563,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bourgeon Capital Management LLC lifted its position in shares of Blackstone by 86.2% during the 4th quarter. Bourgeon Capital Management LLC now owns 216 shares of the asset manager’s stock worth $28,000 after buying an additional 100 shares in the last quarter. Exchange Traded Concepts LLC raised its holdings in shares of Blackstone by 763.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 233 shares of the asset manager’s stock worth $31,000 after purchasing an additional 206 shares during the period. Family CFO Inc purchased a new position in Blackstone in the 3rd quarter valued at approximately $33,000. Bruce G. Allen Investments LLC purchased a new position in Blackstone in the 4th quarter valued at approximately $33,000. Finally, Provence Wealth Management Group purchased a new position in Blackstone in the 3rd quarter valued at approximately $36,000. 70.00% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Ruth Porat acquired 232 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were bought at an average price of $127.08 per share, for a total transaction of $29,482.56. Following the completion of the transaction, the director now directly owns 34,225 shares in the company, valued at $4,349,313. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Ruth Porat bought 232 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was bought at an average cost of $127.08 per share, with a total value of $29,482.56. Following the completion of the purchase, the director now owns 34,225 shares of the company’s stock, valued at approximately $4,349,313. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the firm’s stock in a transaction on Sunday, March 3rd. The shares were sold at an average price of $11.10, for a total transaction of $27,853,407.60. Following the transaction, the insider now directly owns 12,802 shares of the company’s stock, valued at $142,102.20. The disclosure for this sale can be found here. Insiders have sold a total of 2,587,168 shares of company stock worth $37,816,476 over the last 90 days. 1.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on BX shares. Piper Sandler reduced their price target on shares of Blackstone from $150.00 to $146.00 and set an “overweight” rating for the company in a research report on Wednesday, April 10th. Keefe, Bruyette & Woods boosted their price target on shares of Blackstone from $123.00 to $127.00 and gave the company a “market perform” rating in a research report on Friday, January 26th. TheStreet lowered shares of Blackstone from a “b” rating to a “c+” rating in a research report on Thursday, January 25th. The Goldman Sachs Group lowered shares of Blackstone from a “buy” rating to a “neutral” rating and boosted their price target for the company from $115.00 to $128.00 in a research report on Wednesday, January 3rd. Finally, BMO Capital Markets upped their target price on shares of Blackstone from $95.00 to $101.00 and gave the stock a “market perform” rating in a research report on Friday, January 26th. Thirteen analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Blackstone currently has an average rating of “Hold” and an average target price of $122.94.

Blackstone Price Performance

BX stock opened at $124.22 on Wednesday. The company has a market cap of $88.77 billion, a P/E ratio of 43.89, a PEG ratio of 1.01 and a beta of 1.51. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.79 and a quick ratio of 0.80. Blackstone Inc. has a 1 year low of $79.92 and a 1 year high of $133.56. The firm has a 50-day moving average of $126.30 and a 200 day moving average of $118.20.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Thursday, April 18th. The asset manager reported $0.98 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.98. The business had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $2.56 billion. Blackstone had a net margin of 20.84% and a return on equity of 17.33%. The business’s revenue was up 166.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.97 earnings per share. On average, sell-side analysts forecast that Blackstone Inc. will post 4.8 EPS for the current year.

Blackstone Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 6th. Stockholders of record on Monday, April 29th will be issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date is Friday, April 26th. Blackstone’s payout ratio is 132.86%.

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.