58,272 Shares in Blackstone Inc. (NYSE:BX) Acquired by Golden State Wealth Management LLC

Golden State Wealth Management LLC acquired a new stake in Blackstone Inc. (NYSE:BX) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 58,272 shares of the asset manager’s stock, valued at approximately $10,047,000. Blackstone makes up approximately 1.5% of Golden State Wealth Management LLC’s holdings, making the stock its 14th largest position.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Bangor Savings Bank boosted its position in shares of Blackstone by 187.5% during the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock worth $28,000 after buying an additional 105 shares during the period. Hager Investment Management Services LLC bought a new position in shares of Blackstone in the fourth quarter valued at $28,000. West Financial Advisors LLC acquired a new stake in Blackstone in the third quarter valued at $27,000. Berbice Capital Management LLC bought a new position in Blackstone during the fourth quarter worth about $34,000. Finally, Kieckhefer Group LLC bought a new stake in Blackstone in the fourth quarter valued at approximately $39,000. 70.00% of the stock is owned by institutional investors and hedge funds.

Blackstone Stock Down 0.2 %

Shares of NYSE BX opened at $174.50 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71. Blackstone Inc. has a 1 year low of $115.82 and a 1 year high of $200.96. The company has a 50 day simple moving average of $179.07 and a 200 day simple moving average of $163.20. The firm has a market cap of $125.99 billion, a PE ratio of 48.07, a price-to-earnings-growth ratio of 1.18 and a beta of 1.53.

Blackstone (NYSE:BX) last issued 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, research analysts forecast that Blackstone Inc. will post 5.86 EPS for the current year.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Monday, February 10th will be paid a dividend of $1.44 per share. The ex-dividend date is Monday, February 10th. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 annualized dividend and a yield of 3.30%. Blackstone’s dividend payout ratio is currently 94.77%.

Wall Street Analyst Weigh In

BX has been the topic of a number of research analyst reports. TD Cowen upgraded Blackstone from a “hold” rating to a “buy” rating and increased their price target for the company from $149.00 to $230.00 in a research note on Monday, December 9th. Barclays cut their price objective on shares of Blackstone from $192.00 to $186.00 and set an “equal weight” rating for the company in a research report on Friday, January 31st. UBS Group lifted their price target on Blackstone from $170.00 to $180.00 and gave the stock a “neutral” rating in a report on Monday. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Finally, Piper Sandler boosted their price objective on shares of Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a report on Monday, December 23rd. Thirteen analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $172.38.

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.