Allworth Financial LP Acquires 9,375 Shares of Blackstone Inc. (NYSE:BX)

Allworth Financial LP lifted its stake in shares of Blackstone Inc. (NYSE:BX) by 34.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 36,461 shares of the asset manager’s stock after acquiring an additional 9,375 shares during the quarter. Allworth Financial LP’s holdings in Blackstone were worth $6,664,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. State Street Corp lifted its position in Blackstone by 1.2% during the 3rd quarter. State Street Corp now owns 30,020,426 shares of the asset manager’s stock worth $4,597,028,000 after acquiring an additional 348,751 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Blackstone by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 14,896,413 shares of the asset manager’s stock valued at $2,272,227,000 after purchasing an additional 336,308 shares during the period. International Assets Investment Management LLC increased its holdings in shares of Blackstone by 15,357.3% during the 3rd quarter. International Assets Investment Management LLC now owns 4,201,150 shares of the asset manager’s stock worth $6,433,220,000 after purchasing an additional 4,173,971 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Blackstone by 1.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,931,411 shares of the asset manager’s stock valued at $602,017,000 after buying an additional 61,739 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Blackstone by 3.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,430,909 shares of the asset manager’s stock valued at $525,375,000 after acquiring an additional 116,367 shares during the period. 70.00% of the stock is owned by institutional investors.

Blackstone Stock Performance

Blackstone stock opened at $165.09 on Monday. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. The company has a market cap of $119.19 billion, a PE ratio of 45.48, a PEG ratio of 1.13 and a beta of 1.53. The company’s 50-day moving average is $176.09 and its two-hundred day moving average is $164.44. Blackstone Inc. has a 1 year low of $115.82 and a 1 year high of $200.96.

Blackstone (NYSE:BX) last issued its earnings results on Thursday, January 30th. The asset manager reported $1.69 EPS 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%. Equities analysts anticipate that Blackstone Inc. will post 5.88 earnings per share for the current year.

Blackstone Increases Dividend

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

Analyst Ratings Changes

Several analysts have recently weighed in on BX shares. StockNews.com lowered Blackstone from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. upped their target price on shares of Blackstone from $149.00 to $154.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Barclays cut their price target on shares of Blackstone from $192.00 to $186.00 and set an “equal weight” rating for the company in a research note on Friday, January 31st. Finally, Keefe, Bruyette & Woods increased their target price on Blackstone from $174.00 to $177.00 and gave the stock a “market perform” rating in a report on Friday, January 31st. Thirteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $172.38.

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.