Oak Harbor Wealth Partners LLC Has $910,000 Stake in Blackstone Inc. (NYSE:BX)

Oak Harbor Wealth Partners LLC lowered its position in Blackstone Inc. (NYSE:BX) by 3.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,279 shares of the asset manager’s stock after selling 200 shares during the quarter. Oak Harbor Wealth Partners LLC’s holdings in Blackstone were worth $910,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in BX. State Street Corp boosted its holdings in Blackstone by 1.2% in the third quarter. State Street Corp now owns 30,020,426 shares of the asset manager’s stock valued at $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 third quarter. Geode Capital Management LLC now owns 14,896,413 shares of the asset manager’s stock valued at $2,272,227,000 after acquiring an additional 336,308 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Blackstone by 2.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,045,143 shares of the asset manager’s stock valued at $697,464,000 after acquiring an additional 113,732 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Blackstone by 3.5% in 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 last quarter. Finally, FMR LLC boosted its holdings in shares of Blackstone by 6.1% during the 3rd quarter. FMR LLC now owns 2,155,068 shares of the asset manager’s stock worth $330,006,000 after buying an additional 124,462 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Wall Street Analysts Forecast Growth

BX has been the topic of a number of research analyst reports. JPMorgan Chase & Co. increased their price target on Blackstone from $149.00 to $154.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. TD Cowen upgraded Blackstone from a “hold” rating to a “buy” rating and upped their price target for the stock from $149.00 to $230.00 in a report on Monday, December 9th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a report on Monday, November 11th. UBS Group reissued a “neutral” rating on shares of Blackstone in a research report on Monday. Finally, BMO Capital Markets lifted their target price on shares of Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a research report on Thursday, December 19th. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $172.38.

Blackstone Price Performance

Blackstone stock opened at $145.12 on Friday. The business has a fifty day moving average price of $169.33 and a 200-day moving average price of $166.76. The firm has a market capitalization of $104.78 billion, a P/E ratio of 39.98, a PEG ratio of 1.07 and a beta of 1.55. 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 one year low of $115.82 and a one year high of $200.96.

Blackstone (NYSE:BX) last announced 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%. As a group, equities research analysts forecast that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 10th were paid a dividend of $1.44 per share. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.76 annualized dividend and a yield of 3.97%. Blackstone’s dividend payout ratio (DPR) is currently 158.68%.

Insiders Place Their Bets

In related news, Director Ruth Porat bought 301 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was bought at an average cost of $164.85 per share, for a total transaction of $49,619.85. Following the completion of the transaction, the director now owns 36,829 shares of the company’s stock, valued at approximately $6,071,260.65. The trade was a 0.82 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

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.