WealthPLAN Partners LLC Has $3.04 Million Stake in Blackstone Inc. (NYSE:BX)

WealthPLAN Partners LLC lessened its holdings in shares of Blackstone Inc. (NYSE:BX) by 13.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 17,654 shares of the asset manager’s stock after selling 2,749 shares during the quarter. WealthPLAN Partners LLC’s holdings in Blackstone were worth $3,044,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Sather Financial Group Inc raised its stake in shares of Blackstone by 202.5% in the third quarter. Sather Financial Group Inc now owns 6,050 shares of the asset manager’s stock valued at $926,000 after purchasing an additional 4,050 shares in the last quarter. Portside Wealth Group LLC bought a new position in shares of Blackstone during the 3rd quarter worth about $201,000. Aljian Capital Management LLC bought a new stake in Blackstone in the third quarter valued at about $1,951,000. Icon Wealth Advisors LLC boosted its holdings in Blackstone by 2,185.4% during the third quarter. Icon Wealth Advisors LLC now owns 18,946 shares of the asset manager’s stock valued at $2,901,000 after purchasing an additional 18,117 shares in the last quarter. Finally, Highland Capital Management LLC raised its holdings in shares of Blackstone by 214.2% in the 4th quarter. Highland Capital Management LLC now owns 22,303 shares of the asset manager’s stock worth $3,845,000 after buying an additional 15,205 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on BX shares. Piper Sandler boosted 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. Barclays decreased their price target on Blackstone from $192.00 to $186.00 and set an “equal weight” rating on the stock in a research report on Friday, January 31st. The Goldman Sachs Group boosted their price objective on Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Wells Fargo & Company lowered their target price on Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Blackstone presently has a consensus rating of “Hold” and a consensus price target of $172.38.

Blackstone Price Performance

Shares of BX opened at $165.09 on Friday. The stock’s 50-day moving average price is $176.53 and its two-hundred day moving average price is $164.11. Blackstone Inc. has a 1 year low of $115.82 and a 1 year high of $200.96. The stock has a market cap of $119.20 billion, a P/E ratio of 45.48, a price-to-earnings-growth ratio of 1.13 and a beta of 1.53. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61.

Blackstone (NYSE:BX) last announced its quarterly earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.19. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. On average, equities analysts predict that Blackstone Inc. will post 5.88 earnings per share for the current year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th will be issued a $1.44 dividend. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.49%. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date is Monday, February 10th. Blackstone’s payout ratio is 158.68%.

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.