WealthTrak Capital Management LLC Buys Shares of 355 Blackstone Inc. (NYSE:BX)

WealthTrak Capital Management LLC acquired a new position in Blackstone Inc. (NYSE:BX) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 355 shares of the asset manager’s stock, valued at approximately $61,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Bangor Savings Bank grew its stake in shares of Blackstone by 187.5% in the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after buying an additional 105 shares in the last quarter. Hager Investment Management Services LLC acquired a new position in Blackstone in the 4th quarter valued at about $28,000. Centricity Wealth Management LLC acquired a new stake in shares of Blackstone during the fourth quarter worth about $30,000. Murphy & Mullick Capital Management Corp acquired a new position in shares of Blackstone in the fourth quarter valued at approximately $33,000. Finally, Berbice Capital Management LLC acquired a new stake in Blackstone during the 4th quarter worth approximately $34,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Transactions at Blackstone

In related news, Director Ruth Porat acquired 301 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was purchased at an average cost of $164.85 per share, for a total transaction of $49,619.85. Following the transaction, the director now directly owns 36,829 shares of the company’s stock, valued at approximately $6,071,260.65. This trade represents a 0.82 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Wells Fargo & Company decreased their price objective on Blackstone from $180.00 to $160.00 and set an “equal weight” rating for the company in a research note on Thursday, March 20th. Keefe, Bruyette & Woods increased their price objective on shares of Blackstone from $174.00 to $177.00 and gave the company a “market perform” rating in a research report on Friday, January 31st. BMO Capital Markets lifted their target price on Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a research report on Thursday, December 19th. Piper Sandler raised their price target on Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a research note on Monday, December 23rd. Finally, TD Cowen upgraded shares of Blackstone from a “hold” rating to a “buy” rating and lifted their price objective for the company from $149.00 to $230.00 in a research note on Monday, December 9th. Twelve analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $171.13.

Blackstone Price Performance

Shares of NYSE BX opened at $138.26 on Friday. The company’s fifty day moving average is $160.86 and its two-hundred day moving average is $167.37. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67. The firm has a market capitalization of $100.85 billion, a P/E ratio of 38.09, a PEG ratio of 1.07 and a beta of 1.55. Blackstone Inc. has a one year low of $115.82 and a one year high of $200.96.

Blackstone (NYSE:BX) last issued its earnings results 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%. Analysts forecast that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were issued a $1.44 dividend. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date was Monday, February 10th. This represents a $5.76 annualized dividend and a yield of 4.17%. Blackstone’s dividend 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.