Everhart Financial Group Inc. Takes Position in Blackstone Inc. (NYSE:BX)

Everhart Financial Group Inc. bought a new position in shares of Blackstone Inc. (NYSE:BX) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,555 shares of the asset manager’s stock, valued at approximately $268,000.

Several other institutional investors and hedge funds have also recently modified their holdings of BX. State Street Corp lifted its stake in Blackstone by 1.2% during the third quarter. State Street Corp now owns 30,020,426 shares of the asset manager’s stock worth $4,597,028,000 after purchasing an additional 348,751 shares during the last quarter. Geode Capital Management LLC lifted its stake 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 worth $2,272,227,000 after acquiring an additional 336,308 shares during the period. International Assets Investment Management LLC increased its position in shares of Blackstone by 15,357.3% during the third quarter. International Assets Investment Management LLC now owns 4,201,150 shares of the asset manager’s stock valued at $6,433,220,000 after buying 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 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,931,411 shares of the asset manager’s stock valued at $602,017,000 after purchasing an additional 61,739 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Blackstone by 3.5% during the 3rd 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. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Piper Sandler lifted their price objective on Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a research note on Monday, December 23rd. UBS Group upped their price target on shares of Blackstone from $170.00 to $180.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. TD Cowen raised shares of Blackstone from a “hold” rating to a “buy” rating and lifted their target price for the stock from $149.00 to $230.00 in a report on Monday, December 9th. Barclays reduced 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 report on Friday, January 31st. Finally, Keefe, Bruyette & Woods increased their target price on Blackstone from $174.00 to $177.00 and gave the company a “market perform” rating in a research note 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. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $172.38.

Blackstone Stock Up 2.9 %

BX stock opened at $165.09 on Tuesday. The business’s 50-day moving average price is $176.09 and its 200-day moving average price is $164.60. The stock has a market cap of $119.19 billion, a P/E ratio of 45.48, 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 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 earnings per share for the quarter, beating 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%. On average, equities research analysts forecast that Blackstone Inc. will post 5.88 EPS for the current year.

Blackstone Increases Dividend

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

Blackstone 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.