Argonautica Private Wealth Management Inc. Has $6.26 Million Stock Holdings in Blackstone Inc. (NYSE:BX)

Argonautica Private Wealth Management Inc. trimmed its holdings in Blackstone Inc. (NYSE:BX) by 0.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 36,322 shares of the asset manager’s stock after selling 172 shares during the period. Blackstone comprises about 2.0% of Argonautica Private Wealth Management Inc.’s investment portfolio, making the stock its 10th largest holding. Argonautica Private Wealth Management Inc.’s holdings in Blackstone were worth $6,263,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of BX. Bangor Savings Bank lifted its position in Blackstone by 187.5% in the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 105 shares in the last quarter. Hager Investment Management Services LLC bought a new stake in shares of Blackstone in the fourth quarter valued at about $28,000. Centricity Wealth Management LLC bought a new position in shares of Blackstone during the fourth quarter worth about $30,000. Berbice Capital Management LLC bought a new stake in Blackstone in the 4th quarter valued at approximately $34,000. Finally, Comprehensive Financial Planning Inc. PA acquired a new position in Blackstone during the 4th quarter worth approximately $34,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Buying and Selling

In other Blackstone news, Director Ruth Porat purchased 301 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were purchased at an average cost of $164.85 per share, for a total transaction of $49,619.85. Following the acquisition, the director now owns 36,829 shares of the company’s stock, valued at approximately $6,071,260.65. This represents a 0.82 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is owned by corporate insiders.

Blackstone Trading Up 0.1 %

Shares of NYSE:BX opened at $157.22 on Wednesday. The stock has a market cap of $113.51 billion, a PE ratio of 43.31, a P/E/G ratio of 1.07 and a beta of 1.53. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. Blackstone Inc. has a 12-month low of $115.82 and a 12-month high of $200.96. The business has a 50 day moving average of $172.44 and a 200-day moving average of $166.12.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 earnings per share for the quarter, topping 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%. As a group, equities research analysts forecast that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were given a $1.44 dividend. This is a boost from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 annualized dividend and a yield of 3.66%. The ex-dividend date of this dividend was Monday, February 10th. Blackstone’s dividend payout ratio is 158.68%.

Analysts Set New Price Targets

A number of brokerages have recently commented on BX. JPMorgan Chase & Co. boosted their price objective on shares of Blackstone from $149.00 to $154.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. StockNews.com cut Blackstone from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Keefe, Bruyette & Woods upped their target price on Blackstone from $174.00 to $177.00 and gave the stock a “market perform” rating in a report on Friday, January 31st. Piper Sandler boosted their price target on Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a research report on Monday, December 23rd. Finally, UBS Group increased their price objective on Blackstone from $170.00 to $180.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Thirteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Blackstone presently has an average rating of “Hold” and an average price target of $172.38.

Blackstone Company 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.