Atria Wealth Solutions Inc. Raises Stock Holdings in Blackstone Inc. (NYSE:BX)

Atria Wealth Solutions Inc. boosted its stake in Blackstone Inc. (NYSE:BX) by 2.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 48,643 shares of the asset manager’s stock after buying an additional 1,176 shares during the period. Atria Wealth Solutions Inc.’s holdings in Blackstone were worth $8,387,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Venturi Wealth Management LLC raised its holdings in Blackstone by 43.4% in the 4th quarter. Venturi Wealth Management LLC now owns 4,088 shares of the asset manager’s stock valued at $705,000 after buying an additional 1,237 shares during the period. Citizens & Northern Corp increased its stake in Blackstone by 2.7% during the fourth quarter. Citizens & Northern Corp now owns 12,807 shares of the asset manager’s stock worth $2,208,000 after purchasing an additional 338 shares during the period. CIBC Asset Management Inc increased its stake in Blackstone by 1.3% during the fourth quarter. CIBC Asset Management Inc now owns 174,558 shares of the asset manager’s stock worth $30,097,000 after purchasing an additional 2,189 shares during the period. Pittenger & Anderson Inc. increased its stake in Blackstone by 144.6% during the fourth quarter. Pittenger & Anderson Inc. now owns 36,615 shares of the asset manager’s stock worth $6,313,000 after purchasing an additional 21,645 shares during the period. Finally, Tcfg Wealth Management LLC increased its stake in Blackstone by 4.4% during the fourth quarter. Tcfg Wealth Management LLC now owns 2,389 shares of the asset manager’s stock worth $412,000 after purchasing an additional 101 shares during the period. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Blackstone Price Performance

BX stock opened at $166.59 on Wednesday. The company has a market capitalization of $120.28 billion, a P/E ratio of 45.89, a PEG ratio of 1.13 and a beta of 1.53. Blackstone Inc. has a twelve month low of $115.82 and a twelve month high of $200.96. The business has a 50 day simple moving average of $175.23 and a 200-day simple moving average of $165.03. 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 (NYSE:BX) last posted its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.19. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. As a group, equities analysts anticipate that Blackstone Inc. will post 5.88 EPS for the current year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th were paid a dividend of $1.44 per share. This represents a $5.76 annualized dividend and a dividend yield of 3.46%. The ex-dividend date of this dividend was Monday, February 10th. This is a boost from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s dividend payout ratio is 94.77%.

Analyst Ratings Changes

BX has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. boosted their price objective on Blackstone from $149.00 to $154.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Keefe, Bruyette & Woods boosted their price objective on Blackstone from $174.00 to $177.00 and gave the stock a “market perform” rating in a research report on Friday, January 31st. Piper Sandler boosted their price objective on Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a research report on Monday, December 23rd. Finally, TD Cowen raised Blackstone from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $149.00 to $230.00 in a research report on Monday, December 9th. Thirteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $172.38.

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.