Serenus Wealth Advisors LLC Makes New Investment in Blackstone Inc. (NYSE:BX)

Serenus Wealth Advisors LLC purchased a new stake in shares of Blackstone Inc. (NYSE:BX) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,329 shares of the asset manager’s stock, valued at approximately $229,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bangor Savings Bank lifted its stake in Blackstone by 187.5% in the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 105 shares during the last quarter. Hager Investment Management Services LLC bought a new position in Blackstone during the fourth quarter worth about $28,000. Berbice Capital Management LLC acquired a new stake in shares of Blackstone in the fourth quarter valued at approximately $34,000. Raleigh Capital Management Inc. increased its holdings in shares of Blackstone by 32.1% during the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after acquiring an additional 62 shares during the last quarter. Finally, Kieckhefer Group LLC acquired a new stake in Blackstone during the 4th quarter valued at $39,000. Institutional investors own 70.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on BX. JPMorgan Chase & Co. raised their target price on shares of Blackstone from $149.00 to $154.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Barclays decreased their target price on Blackstone from $192.00 to $186.00 and set an “equal weight” rating on the stock in a research report on Friday, January 31st. Piper Sandler boosted their price target on Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a research note on Monday, December 23rd. Bank of America lifted their target price on Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Blackstone from $174.00 to $177.00 and gave the stock 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. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $172.38.

Blackstone Price Performance

Shares of BX stock opened at $170.11 on Friday. 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. The business has a fifty day simple moving average of $178.78 and a 200 day simple moving average of $163.28. The company has a market cap of $122.82 billion, a P/E ratio of 46.86, a P/E/G ratio of 1.18 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 (EPS) 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%. On average, sell-side analysts forecast that Blackstone Inc. will post 5.86 EPS for the current fiscal year.

Blackstone Increases Dividend

The company also recently announced 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 represents a $5.76 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date is Monday, February 10th. This is a boost from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s dividend payout ratio is presently 94.77%.

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.