Wealthspire Advisors LLC Has $4.27 Million Stock Position in Blackstone Inc. (NYSE:BX)

Wealthspire Advisors LLC reduced its holdings in shares of Blackstone Inc. (NYSE:BX) by 4.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,744 shares of the asset manager’s stock after selling 1,286 shares during the quarter. Wealthspire Advisors LLC’s holdings in Blackstone were worth $4,266,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Glen Eagle Advisors LLC grew its stake in shares of Blackstone by 1.8% during the 3rd quarter. Glen Eagle Advisors LLC now owns 3,251 shares of the asset manager’s stock worth $498,000 after acquiring an additional 59 shares in the last quarter. Avidian Wealth Enterprises LLC grew its stake in shares of Blackstone by 0.4% during the 4th quarter. Avidian Wealth Enterprises LLC now owns 16,184 shares of the asset manager’s stock worth $2,790,000 after acquiring an additional 59 shares in the last quarter. Investmark Advisory Group LLC grew its stake in shares of Blackstone by 2.4% during the 3rd quarter. Investmark Advisory Group LLC now owns 2,608 shares of the asset manager’s stock worth $399,000 after acquiring an additional 60 shares in the last quarter. Capital Advisors Ltd. LLC increased its stake in shares of Blackstone by 2.3% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 2,787 shares of the asset manager’s stock worth $427,000 after purchasing an additional 62 shares during the last quarter. Finally, Fidelis Capital Partners LLC boosted its stake in shares of Blackstone by 2.7% during the 3rd quarter. Fidelis Capital Partners LLC now owns 2,374 shares of the asset manager’s stock worth $396,000 after acquiring an additional 62 shares during the period. 70.00% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BX has been the subject of a number of analyst reports. TD Cowen upgraded shares of Blackstone from a “hold” rating to a “buy” rating and lifted their price target for the company from $149.00 to $230.00 in a research report on Monday, December 9th. Deutsche Bank Aktiengesellschaft upped their price target 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 upped their price target on shares of Blackstone from $170.00 to $180.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. BMO Capital Markets raised their price objective 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, Wells Fargo & Company reduced their target price on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. Thirteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $172.38.

Insiders Place Their Bets

In related news, Director Ruth Porat purchased 301 shares of Blackstone stock in a transaction on Tuesday, February 18th. The stock was acquired at an average cost of $164.85 per share, for a total transaction of $49,619.85. Following the completion of the acquisition, the director now owns 36,829 shares of the company’s stock, valued at $6,071,260.65. This trade represents a 0.82 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.00% of the company’s stock.

Blackstone Price Performance

Shares of NYSE BX opened at $158.21 on Monday. Blackstone Inc. has a twelve month low of $115.82 and a twelve month high of $200.96. The firm has a fifty day simple moving average of $173.58 and a 200 day simple moving average of $165.74. The company has a market capitalization of $114.23 billion, a PE ratio of 43.58, a P/E/G ratio of 1.07 and a beta of 1.53. 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 announced its earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share 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%. On average, sell-side analysts forecast that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The business 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 represents a $5.76 dividend on an annualized basis and a yield of 3.64%. This is a boost from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date was Monday, February 10th. Blackstone’s dividend payout ratio (DPR) is presently 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.