Atria Investments Inc Boosts Stake in Blackstone Inc. (NYSE:BX)

Atria Investments Inc raised its stake in shares of Blackstone Inc. (NYSE:BX) by 4.8% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 84,089 shares of the asset manager’s stock after purchasing an additional 3,816 shares during the period. Atria Investments Inc’s holdings in Blackstone were worth $14,499,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in BX. Bangor Savings Bank boosted 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 purchasing an additional 105 shares during the period. Hager Investment Management Services LLC purchased a new position in shares of Blackstone during the 4th quarter valued at $28,000. Centricity Wealth Management LLC purchased a new stake in Blackstone in the 4th quarter worth $30,000. Berbice Capital Management LLC purchased a new position in shares of Blackstone in the fourth quarter valued at about $34,000. Finally, Comprehensive Financial Planning Inc. PA purchased a new stake in shares of Blackstone during the fourth quarter worth about $34,000. 70.00% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Blackstone news, Director Ruth Porat acquired 301 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was purchased at an average price of $164.85 per share, for a total transaction of $49,619.85. Following the completion of the acquisition, the director now owns 36,829 shares of the company’s stock, valued at approximately $6,071,260.65. This trade represents a 0.82 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. BMO Capital Markets increased their price objective on shares of Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a report on Thursday, December 19th. Barclays reaffirmed an “equal weight” rating on shares of Blackstone in a research note on Friday, February 7th. Keefe, Bruyette & Woods boosted their price objective on Blackstone from $174.00 to $177.00 and gave the company a “market perform” rating in a report on Friday, January 31st. 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 research note on Monday, December 23rd. Finally, Wells Fargo & Company dropped their target price on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $172.38.

Blackstone Price Performance

Shares of Blackstone stock opened at $150.59 on Wednesday. Blackstone Inc. has a twelve month low of $115.82 and a twelve month high of $200.96. The firm has a market cap of $108.73 billion, a PE ratio of 41.49, a P/E/G ratio of 1.07 and a beta of 1.55. 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 business has a 50-day moving average price of $170.99 and a 200 day moving average price of $166.94.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.19. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. Sell-side analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were given a $1.44 dividend. The ex-dividend date was Monday, February 10th. This represents a $5.76 dividend on an annualized basis and a yield of 3.82%. This is an increase from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s payout ratio is currently 158.68%.

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.