MONECO Advisors LLC Raises Holdings in Blackstone Inc. (NYSE:BX)

MONECO Advisors LLC increased its holdings in shares of Blackstone Inc. (NYSE:BX) by 23.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,056 shares of the asset manager’s stock after purchasing an additional 1,350 shares during the quarter. MONECO Advisors LLC’s holdings in Blackstone were worth $1,217,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of BX. Forvis Mazars Wealth Advisors LLC lifted its holdings in shares of Blackstone by 4.4% during the 4th quarter. Forvis Mazars Wealth Advisors LLC now owns 2,365 shares of the asset manager’s stock valued at $408,000 after buying an additional 100 shares during the period. Howard Capital Management Inc. lifted its holdings in Blackstone by 6.1% in the fourth quarter. Howard Capital Management Inc. now owns 4,637 shares of the asset manager’s stock valued at $800,000 after acquiring an additional 265 shares during the period. Redmond Asset Management LLC grew its stake in shares of Blackstone by 6.7% during the 4th quarter. Redmond Asset Management LLC now owns 15,006 shares of the asset manager’s stock valued at $2,587,000 after purchasing an additional 943 shares during the period. Oxbow Advisors LLC increased its position in shares of Blackstone by 0.8% during the 4th quarter. Oxbow Advisors LLC now owns 24,736 shares of the asset manager’s stock valued at $4,265,000 after purchasing an additional 198 shares during the last quarter. Finally, Indie Asset Partners LLC purchased a new position in shares of Blackstone in the fourth quarter worth approximately $207,000. 70.00% of the stock is currently owned by institutional investors.

Blackstone Price Performance

NYSE:BX opened at $158.21 on Monday. The company has a market capitalization of $114.23 billion, a P/E ratio of 43.58, a P/E/G ratio of 1.07 and a beta of 1.53. The business’s 50-day moving average is $173.58 and its 200 day moving average is $165.74. 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 Inc. has a 12 month low of $115.82 and a 12 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, 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%. On average, equities research analysts forecast that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 10th were issued a $1.44 dividend. This is an increase from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date was Monday, February 10th. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.64%. Blackstone’s dividend payout ratio (DPR) is presently 158.68%.

Wall Street Analysts Forecast Growth

BX has been the topic of several recent research reports. Barclays reiterated an “equal weight” rating on shares of Blackstone in a research report on Friday, February 7th. UBS Group lifted their target price on Blackstone from $170.00 to $180.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. TD Cowen raised Blackstone from a “hold” rating to a “buy” rating and raised their price objective for the stock from $149.00 to $230.00 in a research note on Monday, December 9th. Wells Fargo & Company reduced their target price on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. Finally, Piper Sandler lifted their price target on shares of Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a report on Monday, December 23rd. Thirteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Blackstone has an average rating of “Hold” and a consensus target price of $172.38.

Insiders Place Their Bets

In other news, Director Ruth Porat bought 301 shares of Blackstone stock in a transaction dated Tuesday, February 18th. The shares were acquired at an average price of $164.85 per share, with a total value of $49,619.85. Following the completion of the purchase, the director now owns 36,829 shares in the company, valued at $6,071,260.65. The trade was a 0.82 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.00% of the stock is currently owned by insiders.

Blackstone Company 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.