GM Advisory Group LLC Has $484,000 Stock Position in Blackstone Inc. (NYSE:BX)

GM Advisory Group LLC boosted its position in shares of Blackstone Inc. (NYSE:BX) by 26.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,807 shares of the asset manager’s stock after buying an additional 592 shares during the period. GM Advisory Group LLC’s holdings in Blackstone were worth $484,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Icon Wealth Advisors LLC boosted its stake in Blackstone by 2,185.4% in the third quarter. Icon Wealth Advisors LLC now owns 18,946 shares of the asset manager’s stock valued at $2,901,000 after buying an additional 18,117 shares in the last quarter. Wealthcare Capital Partners LLC bought a new stake in shares of Blackstone during the 4th quarter valued at approximately $2,102,000. Highland Capital Management LLC increased its position in Blackstone by 214.2% during the 4th quarter. Highland Capital Management LLC now owns 22,303 shares of the asset manager’s stock worth $3,845,000 after purchasing an additional 15,205 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in Blackstone by 3.2% in the third quarter. PNC Financial Services Group Inc. now owns 1,169,526 shares of the asset manager’s stock valued at $179,089,000 after buying an additional 36,343 shares in the last quarter. Finally, Nordea Investment Management AB increased its holdings in shares of Blackstone by 8.8% during the fourth quarter. Nordea Investment Management AB now owns 58,229 shares of the asset manager’s stock worth $10,053,000 after buying an additional 4,688 shares in the last quarter. 70.00% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Ruth Porat acquired 301 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were acquired at an average cost of $164.85 per share, for a total transaction of $49,619.85. Following the purchase, the director now owns 36,829 shares in the company, valued at approximately $6,071,260.65. The trade was a 0.82 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BX. Barclays restated an “equal weight” rating on shares of Blackstone in a research report on Friday, February 7th. TD Cowen upgraded shares of Blackstone from a “hold” rating to a “buy” rating and raised their price objective for the company from $149.00 to $230.00 in a report on Monday, December 9th. StockNews.com lowered shares of Blackstone from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Citigroup reiterated a “hold” rating on shares of Blackstone in a report on Friday, February 7th. Finally, Wells Fargo & Company lowered their target price on Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. Twelve analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $172.38.

Blackstone Trading Up 2.4 %

BX opened at $149.69 on Thursday. The company has a market cap of $109.19 billion, a P/E ratio of 41.24, a price-to-earnings-growth ratio of 1.07 and a beta of 1.55. The company has a fifty day moving average price of $164.36 and a two-hundred day moving average price of $167.16. 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 Inc. has a 1-year low of $115.82 and a 1-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 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%. Analysts predict that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th were issued a dividend of $1.44 per share. This is a boost from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.85%. The ex-dividend date was Monday, February 10th. Blackstone’s dividend payout ratio (DPR) is currently 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.