Blackstone Inc. (NYSE:BX) Shares Acquired by Syntegra Private Wealth Group LLC

Syntegra Private Wealth Group LLC boosted its stake in shares of Blackstone Inc. (NYSE:BX) by 5.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 37,797 shares of the asset manager’s stock after acquiring an additional 1,788 shares during the period. Blackstone accounts for approximately 0.7% of Syntegra Private Wealth Group LLC’s portfolio, making the stock its 19th biggest position. Syntegra Private Wealth Group LLC’s holdings in Blackstone were worth $6,517,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Money Concepts Capital Corp purchased a new position in Blackstone in the fourth quarter valued at $269,000. Confluence Wealth Services Inc. increased its holdings in shares of Blackstone by 14.5% in the 4th quarter. Confluence Wealth Services Inc. now owns 2,368 shares of the asset manager’s stock valued at $439,000 after acquiring an additional 299 shares during the last quarter. Country Club Bank boosted its holdings in Blackstone by 5.4% in the fourth quarter. Country Club Bank now owns 11,055 shares of the asset manager’s stock valued at $1,902,000 after purchasing an additional 570 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Blackstone by 29.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 90,537 shares of the asset manager’s stock worth $15,686,000 after acquiring an additional 20,849 shares in the last quarter. Finally, Y.D. More Investments Ltd boosted its position in shares of Blackstone by 30.2% in the 4th quarter. Y.D. More Investments Ltd now owns 2,343 shares of the asset manager’s stock valued at $404,000 after purchasing an additional 544 shares during the period. 70.00% of the stock is owned by institutional investors and hedge funds.

Blackstone Stock Performance

Shares of BX stock opened at $174.99 on Thursday. 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 $126.34 billion, a PE ratio of 48.21, a P/E/G ratio of 1.18 and a beta of 1.53. The stock has a fifty day moving average price of $179.34 and a 200 day moving average price of $163.11. 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 announced its earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.19. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. Sell-side analysts forecast that Blackstone Inc. will post 5.86 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders 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 yield of 3.29%. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date is Monday, February 10th. Blackstone’s dividend payout ratio is 94.77%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on BX shares. Keefe, Bruyette & Woods increased their price target on shares of Blackstone from $174.00 to $177.00 and gave the stock a “market perform” rating in a research note on Friday, January 31st. Barclays dropped 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. Piper Sandler boosted their target price on Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a report on Monday, December 23rd. 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 report on Monday, December 9th. Finally, UBS Group lifted their target price on shares of Blackstone from $170.00 to $180.00 and gave the company a “neutral” rating in a report on Monday. Thirteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Blackstone currently has a consensus rating of “Hold” and a consensus target price of $172.38.

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.