Hedeker Wealth LLC Grows Position in Blackstone Inc. (NYSE:BX)

Hedeker Wealth LLC grew its holdings in Blackstone Inc. (NYSE:BX) by 0.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,342 shares of the asset manager’s stock after acquiring an additional 83 shares during the period. Blackstone comprises about 1.7% of Hedeker Wealth LLC’s investment portfolio, making the stock its 18th biggest position. Hedeker Wealth LLC’s holdings in Blackstone were worth $6,783,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in BX. Bangor Savings Bank lifted its position in shares of 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 buying an additional 105 shares in the last quarter. Hager Investment Management Services LLC purchased a new stake in shares of Blackstone in the fourth quarter worth about $28,000. West Financial Advisors LLC purchased a new stake in shares of Blackstone in the third quarter worth about $27,000. Berbice Capital Management LLC purchased a new stake in shares of Blackstone in the fourth quarter worth about $34,000. Finally, Kieckhefer Group LLC bought a new stake in Blackstone during the fourth quarter worth approximately $39,000. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Blackstone Stock Down 0.2 %

Blackstone stock opened at $174.50 on Friday. The business has a fifty day moving average of $179.07 and a two-hundred day moving average of $163.20. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. The firm has a market cap of $125.99 billion, a P/E ratio of 48.07, a P/E/G ratio of 1.18 and a beta of 1.53. Blackstone Inc. has a twelve month low of $115.82 and a twelve month high of $200.96.

Blackstone (NYSE:BX) last posted its earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share 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 forecast that Blackstone Inc. will post 5.86 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th will be issued a dividend of $1.44 per share. This represents a $5.76 annualized dividend and a dividend yield of 3.30%. The ex-dividend date of this dividend is Monday, February 10th. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s dividend payout ratio is currently 158.68%.

Analyst Ratings Changes

BX has been the topic of several analyst reports. Evercore ISI boosted their price objective on Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Barclays reduced their price objective on Blackstone from $192.00 to $186.00 and set an “equal weight” rating on the stock in a research note on Friday, January 31st. Bank of America boosted their price objective on Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. The Goldman Sachs Group upped their target price on Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Finally, UBS Group upped their target price on Blackstone from $170.00 to $180.00 and gave the company a “neutral” rating in a research note on Monday. Thirteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $172.38.

Blackstone 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.