Independent Solutions Wealth Management LLC Purchases 1,275 Shares of Blackstone Inc. (NYSE:BX)

Independent Solutions Wealth Management LLC boosted its holdings in shares of Blackstone Inc. (NYSE:BX) by 8.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,779 shares of the asset manager’s stock after acquiring an additional 1,275 shares during the period. Independent Solutions Wealth Management LLC’s holdings in Blackstone were worth $2,721,000 at the end of the most recent reporting period.

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

Insider Transactions at Blackstone

In other Blackstone news, Director Ruth Porat purchased 301 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was purchased at an average cost of $164.85 per share, with a total value of $49,619.85. Following the purchase, the director now owns 36,829 shares of the company’s stock, valued at approximately $6,071,260.65. The trade was 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 this hyperlink. Company insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BX. BMO Capital Markets raised their target price on Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a report on Thursday, December 19th. Keefe, Bruyette & Woods lifted their price objective on Blackstone from $174.00 to $177.00 and gave the company a “market perform” rating in a research report on Friday, January 31st. Piper Sandler raised their target price on shares of Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a research note on Monday, December 23rd. JPMorgan Chase & Co. increased their price objective on shares of Blackstone from $149.00 to $154.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Finally, Wells Fargo & Company dropped their target price on shares of Blackstone from $180.00 to $160.00 and set an “equal weight” rating for the company in a report on Thursday. Twelve equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $171.13.

Blackstone Trading Down 0.7 %

Shares of BX opened at $148.72 on Friday. Blackstone Inc. has a fifty-two week low of $115.82 and a fifty-two week high of $200.96. The stock has a market capitalization of $108.48 billion, a PE ratio of 40.97, a P/E/G ratio of 1.07 and a beta of 1.55. The company’s fifty day moving average is $163.86 and its 200 day moving average is $167.04. 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 (NYSE:BX) last issued 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 return on equity of 19.58% and a net margin of 20.99%. Sell-side analysts expect that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were given a dividend of $1.44 per share. This is a boost from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.76 dividend on an annualized basis and a yield of 3.87%. Blackstone’s payout ratio is 158.68%.

About Blackstone

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.