Bernard Wealth Management Corp. Purchases New Stake in Blackstone Inc. (NYSE:BX)

Bernard Wealth Management Corp. bought a new stake in Blackstone Inc. (NYSE:BX) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 199 shares of the asset manager’s stock, valued at approximately $34,000.

Several other large investors also recently modified their holdings of the stock. Bangor Savings Bank lifted its holdings in Blackstone by 187.5% during the fourth 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 purchased a new stake in shares of Blackstone during the 4th quarter valued at approximately $28,000. Centricity Wealth Management LLC purchased a new stake in shares of Blackstone during the fourth quarter worth $30,000. Roxbury Financial LLC bought a new stake in shares of Blackstone during the 4th quarter valued at $34,000. Finally, Murphy & Mullick Capital Management Corp bought a new stake in shares of Blackstone during the fourth quarter valued at about $33,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insider Activity at Blackstone

In related news, Director Ruth Porat acquired 301 shares of Blackstone stock in a transaction on Tuesday, February 18th. The shares were acquired at an average cost of $164.85 per share, with a total value of $49,619.85. Following the transaction, the director now owns 36,829 shares in the company, valued at $6,071,260.65. This trade represents a 0.82 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on BX. Keefe, Bruyette & Woods boosted their price objective on shares of Blackstone from $174.00 to $177.00 and gave the company a “market perform” rating in a research note on Friday, January 31st. StockNews.com cut shares of Blackstone from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Wells Fargo & Company dropped their price objective on Blackstone from $160.00 to $139.00 and set an “equal weight” rating for the company in a research note on Tuesday. Piper Sandler lowered their price target on Blackstone from $182.00 to $140.00 and set a “neutral” rating on the stock in a report on Tuesday. Finally, Bank of America decreased their price objective on shares of Blackstone from $219.00 to $207.00 and set a “buy” rating on the stock in a research report on Friday, April 4th. Eleven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Blackstone presently has an average rating of “Hold” and an average target price of $161.83.

Blackstone Stock Down 4.0 %

BX opened at $119.67 on Wednesday. The company has a market cap of $87.29 billion, a P/E ratio of 32.97, a P/E/G ratio of 1.07 and a beta of 1.61. Blackstone Inc. has a 12 month low of $115.66 and a 12 month high of $200.96. The business’s 50-day moving average price is $152.48 and its 200-day moving average price is $166.35. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61.

Blackstone (NYSE:BX) last released its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 earnings per share for the quarter, beating 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, equities analysts expect that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th were issued a dividend of $1.44 per share. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 dividend on an annualized basis and a dividend yield of 4.81%. The ex-dividend date of this dividend was Monday, February 10th. Blackstone’s dividend payout ratio is currently 158.68%.

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.