Physician Wealth Advisors Inc. Takes Position in Blackstone Inc. (NYSE:BX)

Physician Wealth Advisors Inc. bought a new position in shares of Blackstone Inc. (NYSE:BX) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 882 shares of the asset manager’s stock, valued at approximately $152,000.

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

Blackstone Trading Down 4.3 %

Shares of BX stock opened at $138.26 on Monday. The stock has a fifty day simple moving average of $160.86 and a two-hundred day simple moving average of $167.72. Blackstone Inc. has a 52-week low of $115.82 and a 52-week high of $200.96. The firm has a market capitalization of $100.85 billion, a PE ratio of 38.09, a PEG ratio of 1.07 and a beta of 1.55. 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 posted its quarterly earnings results on Thursday, January 30th. The asset manager reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.19. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. On average, analysts predict that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were issued a dividend of $1.44 per share. This represents a $5.76 annualized dividend and a dividend yield of 4.17%. The ex-dividend date of this dividend was Monday, February 10th. This is an increase from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s dividend payout ratio is 158.68%.

Analysts Set New Price Targets

BX has been the topic of several recent analyst reports. JPMorgan Chase & Co. increased their price objective on Blackstone from $149.00 to $154.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Barclays restated an “equal weight” rating on shares of Blackstone in a research report on Friday, February 7th. StockNews.com lowered shares of Blackstone from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Citigroup reaffirmed a “hold” rating on shares of Blackstone in a report on Friday, February 7th. Finally, UBS Group raised Blackstone from a “neutral” rating to a “buy” rating and set a $180.00 target price on the stock in a report on Monday, March 17th. Twelve equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $171.13.

Insider Transactions at Blackstone

In other Blackstone news, Director Ruth Porat purchased 301 shares of Blackstone stock in a transaction that occurred on Tuesday, February 18th. The shares were bought at an average price of $164.85 per share, for a total transaction of $49,619.85. Following the completion of the transaction, the director now 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 acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.00% of the company’s stock.

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.