Serenus Wealth Advisors LLC Buys New Holdings in Blackstone Inc. (NYSE:BX)

Serenus Wealth Advisors LLC acquired a new position in shares of Blackstone Inc. (NYSE:BX) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,329 shares of the asset manager’s stock, valued at approximately $229,000.

Several other hedge funds have also recently added to or reduced their stakes in BX. Byrne Asset Management LLC acquired a new position in shares of Blackstone in the 4th quarter worth approximately $1,682,000. Joel Isaacson & Co. LLC lifted its holdings in shares of Blackstone by 14.7% during the fourth quarter. Joel Isaacson & Co. LLC now owns 19,084 shares of the asset manager’s stock valued at $3,290,000 after acquiring an additional 2,450 shares during the period. Shepherd Financial Partners LLC grew its holdings in shares of Blackstone by 3.6% in the 4th quarter. Shepherd Financial Partners LLC now owns 30,770 shares of the asset manager’s stock worth $5,305,000 after purchasing an additional 1,065 shares during the last quarter. Lecap Asset Management Ltd. acquired a new position in Blackstone in the fourth quarter valued at about $233,000. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Blackstone during the fourth quarter worth approximately $10,047,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Keefe, Bruyette & Woods lifted their price objective on Blackstone from $174.00 to $177.00 and gave the company a “market perform” rating in a research report on Friday, January 31st. Wells Fargo & Company reduced their price target on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. Barclays reduced their target price on shares of Blackstone from $192.00 to $186.00 and set an “equal weight” rating on the stock in a research report on Friday, January 31st. Cowen restated a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. Finally, Piper Sandler boosted their target price on Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a research report on Monday, December 23rd. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Blackstone presently has an average rating of “Hold” and a consensus price target of $172.38.

Blackstone Stock Down 2.5 %

NYSE:BX opened at $170.11 on Friday. The stock has a market cap of $122.82 billion, a price-to-earnings ratio of 46.86, a PEG ratio of 1.18 and a beta of 1.53. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. The stock has a 50-day moving average price of $178.78 and a two-hundred day moving average price of $163.28. Blackstone Inc. has a 1 year low of $115.82 and a 1 year high of $200.96.

Blackstone (NYSE:BX) last announced its quarterly earnings results 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 net margin of 20.99% and a return on equity of 19.58%. As a group, equities analysts expect that Blackstone Inc. will post 5.86 earnings per share for the current year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Monday, February 10th will be issued a dividend of $1.44 per share. The ex-dividend date of this dividend is Monday, February 10th. This is an increase from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.39%. Blackstone’s dividend payout ratio (DPR) is presently 94.77%.

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.