Pittenger & Anderson Inc. Has $6.31 Million Stock Position in Blackstone Inc. (NYSE:BX)

Pittenger & Anderson Inc. boosted its stake in Blackstone Inc. (NYSE:BX) by 144.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,615 shares of the asset manager’s stock after acquiring an additional 21,645 shares during the quarter. Pittenger & Anderson Inc.’s holdings in Blackstone were worth $6,313,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Tcfg Wealth Management LLC lifted its position in Blackstone by 4.4% during the 4th quarter. Tcfg Wealth Management LLC now owns 2,389 shares of the asset manager’s stock worth $412,000 after buying an additional 101 shares in the last quarter. Strategic Financial Concepts LLC bought a new stake in Blackstone during the 4th quarter worth about $19,477,000. Allworth Financial LP lifted its position in Blackstone by 34.6% during the 4th quarter. Allworth Financial LP now owns 36,461 shares of the asset manager’s stock worth $6,664,000 after buying an additional 9,375 shares in the last quarter. Principal Securities Inc. raised its holdings in shares of Blackstone by 6.9% in the 4th quarter. Principal Securities Inc. now owns 18,036 shares of the asset manager’s stock valued at $3,110,000 after purchasing an additional 1,171 shares during the period. Finally, Centerpoint Advisory Group bought a new stake in shares of Blackstone in the 4th quarter valued at about $275,000. 70.00% of the stock is owned by institutional investors.

Blackstone Trading Up 2.9 %

NYSE:BX opened at $165.09 on Monday. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $119.19 billion, a price-to-earnings ratio of 45.48, a PEG ratio of 1.13 and a beta of 1.53. The firm has a fifty day simple moving average of $176.09 and a two-hundred day simple moving average of $164.60. Blackstone Inc. has a 12 month low of $115.82 and a 12 month high of $200.96.

Blackstone (NYSE:BX) last issued its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, beating 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%. Analysts expect that Blackstone Inc. will post 5.88 EPS for the current fiscal year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th will be issued a dividend of $1.44 per share. This is a boost from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date is Monday, February 10th. Blackstone’s dividend payout ratio (DPR) is currently 94.77%.

Analyst Ratings Changes

A number of research analysts recently commented on BX shares. Barclays decreased their price target on shares of Blackstone from $192.00 to $186.00 and set an “equal weight” rating on the stock in a research note on Friday, January 31st. UBS Group increased their price target on shares of Blackstone from $170.00 to $180.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. increased their price objective on shares of Blackstone from $149.00 to $154.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, Wells Fargo & Company dropped their price target on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. Thirteen analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price 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.