6,089 Shares in Blackstone Inc. (NYSE:BX) Purchased by Uniting Wealth Partners LLC

Uniting Wealth Partners LLC bought a new stake in Blackstone Inc. (NYSE:BX) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 6,089 shares of the asset manager’s stock, valued at approximately $1,050,000. Blackstone accounts for about 0.5% of Uniting Wealth Partners LLC’s portfolio, making the stock its 25th largest position.

A number of other institutional investors also recently modified their holdings of the company. Glen Eagle Advisors LLC grew its position in shares of Blackstone by 1.8% in the 3rd quarter. Glen Eagle Advisors LLC now owns 3,251 shares of the asset manager’s stock valued at $498,000 after acquiring an additional 59 shares during the period. Avidian Wealth Enterprises LLC lifted its holdings 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 during the period. McIlrath & Eck LLC grew its position in Blackstone by 6.5% in the third quarter. McIlrath & Eck LLC now owns 1,019 shares of the asset manager’s stock valued at $156,000 after acquiring an additional 62 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its stake in shares of Blackstone by 0.5% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,426 shares of the asset manager’s stock valued at $1,970,000 after acquiring an additional 62 shares during the last quarter. Finally, McAdam LLC grew its stake in shares of Blackstone by 3.9% in the fourth quarter. McAdam LLC now owns 1,687 shares of the asset manager’s stock worth $291,000 after purchasing an additional 63 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors.

Blackstone Stock Performance

Shares of BX opened at $147.80 on Thursday. Blackstone Inc. has a one year low of $115.82 and a one year high of $200.96. The stock has a 50-day moving average of $158.58 and a two-hundred day moving average of $167.47. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67. The stock has a market cap of $107.81 billion, a P/E ratio of 40.72, a P/E/G ratio of 1.07 and a beta of 1.61.

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 return on equity of 19.58% and a net margin of 20.99%. As a group, research analysts predict that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were paid a dividend of $1.44 per share. The ex-dividend date was Monday, February 10th. 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 3.90%. Blackstone’s payout ratio is 158.68%.

Insider Buying and Selling at Blackstone

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

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on BX. JPMorgan Chase & Co. increased their price target on Blackstone from $149.00 to $154.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. TD Cowen upgraded Blackstone from a “hold” rating to a “buy” rating and upped their price target for the stock from $149.00 to $230.00 in a report on Monday, December 9th. Keefe, Bruyette & Woods upped their target price on Blackstone from $174.00 to $177.00 and gave the company a “market perform” rating in a report on Friday, January 31st. Citigroup reaffirmed a “hold” rating on shares of Blackstone in a research report on Friday, February 7th. Finally, BMO Capital Markets lifted their price objective on Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a report on Thursday, December 19th. Twelve equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $171.13.

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.