Global Wealth Management Investment Advisory Inc. Acquires 1,267 Shares of Blackstone Inc. (NYSE:BX)

Global Wealth Management Investment Advisory Inc. lifted its holdings in shares of Blackstone Inc. (NYSE:BX) by 20.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,517 shares of the asset manager’s stock after purchasing an additional 1,267 shares during the quarter. Global Wealth Management Investment Advisory Inc.’s holdings in Blackstone were worth $1,296,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bangor Savings Bank lifted its holdings in shares of Blackstone by 187.5% during the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock worth $28,000 after acquiring an additional 105 shares during the last quarter. Hager Investment Management Services LLC purchased a new position in shares of Blackstone in the 4th quarter worth about $28,000. Berbice Capital Management LLC purchased a new position in shares of Blackstone during the 4th quarter valued at about $34,000. Comprehensive Financial Planning Inc. PA purchased a new stake in Blackstone in the fourth quarter worth approximately $34,000. Finally, Kieckhefer Group LLC purchased a new position in shares of Blackstone during the fourth quarter worth approximately $39,000. 70.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BX has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their price target 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. TD Cowen upgraded Blackstone from a “hold” rating to a “buy” rating and raised their price target for the stock from $149.00 to $230.00 in a research report on Monday, December 9th. StockNews.com cut shares of Blackstone from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Evercore ISI increased their price target on shares of Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Finally, Barclays dropped their target price on shares of Blackstone from $192.00 to $186.00 and set an “equal weight” rating for the company in a report on Friday, January 31st. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $172.38.

Blackstone Trading Down 2.5 %

Shares of NYSE:BX opened at $170.11 on Monday. The stock’s 50-day simple moving average is $178.36 and its two-hundred day simple moving average is $163.62. Blackstone Inc. has a 52-week low of $115.82 and a 52-week high of $200.96. 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 capitalization of $122.82 billion, a price-to-earnings ratio of 46.86, a PEG ratio of 1.13 and a beta of 1.53.

Blackstone (NYSE:BX) last announced its earnings results on Thursday, January 30th. The asset manager reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.19. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. Analysts expect that Blackstone Inc. will post 5.88 EPS for the current year.

Blackstone Increases Dividend

The company 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 dividend of $1.44 per share. The ex-dividend date is Monday, February 10th. This represents a $5.76 annualized dividend and a yield of 3.39%. This is an increase from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s payout ratio is currently 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.