Atria Wealth Solutions Inc. Increases Stake in Blackstone Inc. (NYSE:BX)

Atria Wealth Solutions Inc. lifted its stake in Blackstone Inc. (NYSE:BX) by 2.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 48,643 shares of the asset manager’s stock after purchasing an additional 1,176 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Blackstone were worth $8,387,000 as of its most recent SEC filing.

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

Blackstone Trading Up 1.1 %

Shares of BX opened at $166.59 on Wednesday. Blackstone Inc. has a 52-week low of $115.82 and a 52-week 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. The firm’s fifty day moving average is $175.23 and its two-hundred day moving average is $165.03. The stock has a market cap of $120.28 billion, a PE ratio of 45.89, a price-to-earnings-growth ratio of 1.13 and a beta of 1.53.

Blackstone (NYSE:BX) last announced its quarterly earnings results 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 net margin of 20.99% and a return on equity of 19.58%. Research analysts forecast that Blackstone Inc. will post 5.88 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th were given a dividend of $1.44 per share. 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 dividend yield of 3.46%. Blackstone’s payout ratio is presently 94.77%.

Analyst Ratings Changes

BX has been the subject of a number of recent research reports. Citigroup raised their price target on shares of Blackstone from $170.00 to $190.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Piper Sandler lifted their target price on shares of Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a report on Monday, December 23rd. TD Cowen raised shares of Blackstone from a “hold” rating to a “buy” rating and lifted their target price for the company from $149.00 to $230.00 in a report on Monday, December 9th. BMO Capital Markets lifted their target price on shares of Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a report on Thursday, December 19th. Finally, StockNews.com lowered shares of Blackstone from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Thirteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $172.38.

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.