Regent Peak Wealth Advisors LLC Has $321,000 Stock Holdings in Blackstone Inc. (NYSE:BX)

Regent Peak Wealth Advisors LLC lifted its position in shares of Blackstone Inc. (NYSE:BX) by 5.6% in the fourth quarter, HoldingsChannel reports. The fund owned 1,861 shares of the asset manager’s stock after buying an additional 99 shares during the period. Regent Peak Wealth Advisors LLC’s holdings in Blackstone were worth $321,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Bangor Savings Bank boosted its stake in shares of Blackstone by 187.5% in the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 105 shares during the last quarter. West Financial Advisors LLC bought a new position in Blackstone in the third quarter valued at approximately $27,000. Raleigh Capital Management Inc. lifted its stake in shares of Blackstone by 32.1% in the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock valued at $39,000 after purchasing an additional 62 shares during the period. Hazlett Burt & Watson Inc. boosted its holdings in Blackstone by 57.7% during the third quarter. Hazlett Burt & Watson Inc. now owns 276 shares of the asset manager’s stock worth $43,000 after buying an additional 101 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL acquired a new position in Blackstone during the second quarter valued at approximately $39,000. Institutional investors own 70.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on BX shares. Keefe, Bruyette & Woods upped their price objective on shares of Blackstone from $169.00 to $175.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. JPMorgan Chase & Co. raised their target price on shares of Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Cowen reissued a “hold” rating on shares of Blackstone in a research note on Friday, October 18th. Citigroup increased their price objective on Blackstone from $157.00 to $170.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Finally, Bank of America lifted their price objective on shares of Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a report on Friday, October 18th. Fourteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $171.00.

Insider Activity

In other Blackstone news, insider John G. Finley sold 42,249 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the transaction, the insider now owns 387,137 shares in the company, valued at $68,112,883.78. This represents a 9.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.00% of the stock is currently owned by company insiders.

Blackstone Stock Performance

BX stock traded down $2.33 during midday trading on Tuesday, reaching $172.46. 1,165,466 shares of the company were exchanged, compared to its average volume of 1,833,108. The firm has a market capitalization of $124.52 billion, a price-to-earnings ratio of 59.26, a price-to-earnings-growth ratio of 1.63 and a beta of 1.53. The business has a 50-day moving average price of $180.59 and a two-hundred day moving average price of $155.66. Blackstone Inc. has a one year low of $114.88 and a one year high of $200.96. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71.

Blackstone (NYSE:BX) last released its quarterly earnings results on Thursday, October 17th. The asset manager reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.10. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. The firm had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.37 billion. Equities research analysts forecast that Blackstone Inc. will post 4.43 EPS for the current year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Monday, October 28th were given a dividend of $0.86 per share. This is a boost from Blackstone’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend was Monday, October 28th. This represents a $3.44 annualized dividend and a yield of 1.99%. Blackstone’s dividend payout ratio (DPR) is presently 118.21%.

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.