FAS Wealth Partners Inc. Purchases 2,938 Shares of Blackstone Inc. (NYSE:BX)

FAS Wealth Partners Inc. raised its position in shares of Blackstone Inc. (NYSE:BXFree Report) by 18.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 19,178 shares of the asset manager’s stock after purchasing an additional 2,938 shares during the quarter. FAS Wealth Partners Inc.’s holdings in Blackstone were worth $2,511,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in BX. Coppell Advisory Solutions LLC purchased a new stake in shares of Blackstone during the 2nd quarter valued at about $25,000. Halpern Financial Inc. boosted its holdings in shares of Blackstone by 327.1% in the third quarter. Halpern Financial Inc. now owns 252 shares of the asset manager’s stock worth $27,000 after buying an additional 193 shares during the last quarter. Exchange Traded Concepts LLC boosted its holdings in shares of Blackstone by 763.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 233 shares of the asset manager’s stock worth $31,000 after buying an additional 206 shares during the last quarter. DHJJ Financial Advisors Ltd. purchased a new position in shares of Blackstone in the third quarter worth approximately $33,000. Finally, Family CFO Inc bought a new stake in Blackstone during the 3rd quarter worth approximately $33,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insiders Place Their Bets

In other Blackstone news, insider John G. Finley sold 49,000 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $127.93, for a total value of $6,268,570.00. Following the completion of the sale, the insider now directly owns 393,143 shares of the company’s stock, valued at approximately $50,294,783.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Ruth Porat bought 232 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was bought at an average cost of $127.08 per share, for a total transaction of $29,482.56. Following the acquisition, the director now directly owns 34,225 shares of the company’s stock, valued at approximately $4,349,313. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John G. Finley sold 49,000 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $127.93, for a total value of $6,268,570.00. Following the transaction, the insider now owns 393,143 shares of the company’s stock, valued at $50,294,783.99. The disclosure for this sale can be found here. Insiders sold 2,587,168 shares of company stock valued at $37,816,476 in the last three months. 1.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Morgan Stanley boosted their price target on shares of Blackstone from $120.00 to $144.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 24th. Piper Sandler reissued an “overweight” rating and set a $150.00 target price on shares of Blackstone in a research note on Wednesday, December 20th. TD Cowen initiated coverage on shares of Blackstone in a research note on Thursday, January 4th. They issued a “market perform” rating and a $118.00 price objective for the company. The Goldman Sachs Group lowered shares of Blackstone from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $115.00 to $128.00 in a research note on Wednesday, January 3rd. Finally, JPMorgan Chase & Co. boosted their target price on shares of Blackstone from $91.00 to $96.00 and gave the stock a “neutral” rating in a report on Friday, January 26th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Blackstone has a consensus rating of “Hold” and a consensus target price of $119.25.

Get Our Latest Stock Analysis on Blackstone

Blackstone Stock Down 3.6 %

NYSE BX opened at $126.32 on Wednesday. The business has a fifty day moving average price of $126.33 and a 200 day moving average price of $116.41. Blackstone Inc. has a one year low of $79.29 and a one year high of $133.56. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market cap of $90.27 billion, a P/E ratio of 69.03, a P/E/G ratio of 1.05 and a beta of 1.51.

Blackstone (NYSE:BXGet Free Report) last posted its quarterly earnings data on Thursday, January 25th. The asset manager reported $1.11 EPS for the quarter, beating the consensus estimate of $0.95 by $0.16. Blackstone had a return on equity of 17.30% and a net margin of 17.34%. The firm had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $2.48 billion. During the same period in the prior year, the company earned $1.07 EPS. Research analysts anticipate that Blackstone Inc. will post 4.92 EPS for the current fiscal year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 12th. Investors of record on Monday, February 5th were paid a $0.94 dividend. This is an increase from Blackstone’s previous quarterly dividend of $0.80. This represents a $3.76 annualized dividend and a yield of 2.98%. The ex-dividend date was Friday, February 2nd. Blackstone’s dividend payout ratio is currently 205.46%.

About Blackstone

(Free Report)

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.

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Institutional Ownership by Quarter for Blackstone (NYSE:BX)

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