Blackstone Inc. (NYSE:BX) Shares Purchased by SVB Wealth LLC

SVB Wealth LLC lifted its stake in shares of Blackstone Inc. (NYSE:BX) by 4,449.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 148,351 shares of the asset manager’s stock after acquiring an additional 145,090 shares during the quarter. Blackstone accounts for 0.5% of SVB Wealth LLC’s portfolio, making the stock its 27th largest holding. SVB Wealth LLC’s holdings in Blackstone were worth $25,579,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of BX. Bangor Savings Bank boosted its stake in Blackstone by 187.5% in the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock worth $28,000 after purchasing an additional 105 shares during the period. Hager Investment Management Services LLC purchased a new position in shares of Blackstone during the fourth quarter valued at $28,000. Centricity Wealth Management LLC purchased a new stake in Blackstone in the 4th quarter worth about $30,000. Berbice Capital Management LLC purchased a new position in Blackstone during the 4th quarter valued at about $34,000. Finally, Comprehensive Financial Planning Inc. PA purchased a new stake in shares of Blackstone in the fourth quarter worth approximately $34,000. 70.00% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on BX shares. Wells Fargo & Company dropped their price objective on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. Piper Sandler boosted their target price on Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a research note on Monday, December 23rd. JPMorgan Chase & Co. lifted their price target on Blackstone from $149.00 to $154.00 and gave the company a “neutral” rating in a report on Friday, January 31st. UBS Group raised their price objective on shares of Blackstone from $170.00 to $180.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Finally, Deutsche Bank Aktiengesellschaft increased 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. 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 data from MarketBeat, Blackstone presently has a consensus rating of “Hold” and an average price target of $172.38.

Insider Transactions at Blackstone

In other news, Director Ruth Porat bought 301 shares of Blackstone stock in a transaction that occurred on Tuesday, February 18th. The stock was purchased at an average cost of $164.85 per share, with a total value of $49,619.85. Following the completion of the transaction, the director now directly owns 36,829 shares in the company, valued at $6,071,260.65. This trade represents a 0.82 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.00% of the stock is owned by insiders.

Blackstone Price Performance

Shares of NYSE:BX opened at $161.01 on Friday. Blackstone Inc. has a twelve month low of $115.82 and a twelve month high of $200.96. The company has a market cap of $116.25 billion, a price-to-earnings ratio of 44.35, a PEG ratio of 1.07 and a beta of 1.53. The business has a 50 day moving average price of $171.77 and a 200 day moving average price of $166.23. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61.

Blackstone (NYSE:BX) last released 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%. Research analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were issued a $1.44 dividend. This is a boost from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date was Monday, February 10th. This represents a $5.76 annualized dividend and a yield of 3.58%. Blackstone’s dividend payout ratio is 158.68%.

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.