RWA Wealth Partners LLC Has $2.36 Million Holdings in Blackstone Inc. (NYSE:BX)

RWA Wealth Partners LLC lifted its stake in Blackstone Inc. (NYSE:BX) by 10.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,701 shares of the asset manager’s stock after purchasing an additional 1,313 shares during the period. RWA Wealth Partners LLC’s holdings in Blackstone were worth $2,362,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Glen Eagle Advisors LLC grew its position in shares of Blackstone by 1.8% in the third quarter. Glen Eagle Advisors LLC now owns 3,251 shares of the asset manager’s stock valued at $498,000 after purchasing an additional 59 shares during the last quarter. Avidian Wealth Enterprises LLC increased its position in 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 buying an additional 59 shares during the period. Investmark Advisory Group LLC boosted its position in shares of Blackstone by 2.4% in the third quarter. Investmark Advisory Group LLC now owns 2,608 shares of the asset manager’s stock valued at $399,000 after acquiring an additional 60 shares during the period. McIlrath & Eck LLC increased its position in Blackstone by 6.5% during the third quarter. McIlrath & Eck LLC now owns 1,019 shares of the asset manager’s stock worth $156,000 after acquiring an additional 62 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. boosted its holdings in 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 purchasing an additional 62 shares during the period. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Price Performance

Shares of NYSE:BX opened at $138.26 on Monday. The firm has a market cap of $100.85 billion, a PE ratio of 38.09, a price-to-earnings-growth ratio of 1.07 and a beta of 1.55. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67. Blackstone Inc. has a 52 week low of $115.82 and a 52 week high of $200.96. The firm’s fifty day moving average is $160.86 and its 200-day moving average is $167.72.

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, 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%. Sell-side analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 10th were paid a dividend of $1.44 per share. This represents a $5.76 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date of this dividend was Monday, February 10th. This is an increase from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s dividend payout ratio (DPR) is currently 158.68%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on BX shares. Piper Sandler lifted their price target on shares of Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a research report on Monday, December 23rd. StockNews.com cut shares of Blackstone from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Citigroup restated a “hold” rating on shares of Blackstone in a research report on Friday, February 7th. UBS Group upgraded shares of Blackstone from a “neutral” rating to a “buy” rating and set a $180.00 price objective for the company in a research report on Monday, March 17th. Finally, Keefe, Bruyette & Woods lifted their price target on Blackstone from $174.00 to $177.00 and gave the company a “market perform” rating in a research note on Friday, January 31st. Twelve equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $171.13.

Insider Buying and Selling at Blackstone

In related news, Director Ruth Porat acquired 301 shares of Blackstone stock in a transaction dated Tuesday, February 18th. The stock was bought at an average price of $164.85 per share, with a total value of $49,619.85. Following the transaction, the director now directly owns 36,829 shares in the company, valued at $6,071,260.65. This represents a 0.82 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.00% of the company’s stock.

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.