Blackstone Inc. (NYSE:BX) Shares Purchased by Congress Wealth Management LLC DE

Congress Wealth Management LLC DE grew its stake in shares of Blackstone Inc. (NYSE:BX) by 59.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,086 shares of the asset manager’s stock after acquiring an additional 8,262 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Blackstone were worth $3,808,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Glen Eagle Advisors LLC lifted its position in shares of Blackstone by 1.8% during the 3rd quarter. Glen Eagle Advisors LLC now owns 3,251 shares of the asset manager’s stock valued at $498,000 after acquiring an additional 59 shares during the last quarter. Avidian Wealth Enterprises LLC boosted its position in shares of Blackstone by 0.4% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 16,184 shares of the asset manager’s stock valued at $2,790,000 after purchasing an additional 59 shares during the period. Investmark Advisory Group LLC raised its holdings in Blackstone by 2.4% during the 3rd quarter. Investmark Advisory Group LLC now owns 2,608 shares of the asset manager’s stock worth $399,000 after buying an additional 60 shares during the period. McIlrath & Eck LLC boosted its holdings in shares of Blackstone by 6.5% in the third quarter. McIlrath & Eck LLC now owns 1,019 shares of the asset manager’s stock worth $156,000 after buying an additional 62 shares during the period. Finally, McAdam LLC lifted its position in shares of Blackstone by 3.9% in the 4th quarter. McAdam LLC now owns 1,687 shares of the asset manager’s stock valued at $291,000 after acquiring an additional 63 shares in the last quarter. 70.00% of the stock is owned by institutional investors and hedge funds.

Blackstone Price Performance

NYSE BX opened at $151.29 on Wednesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67. The stock has a 50-day simple moving average of $162.90 and a 200 day simple moving average of $167.69. The stock has a market capitalization of $110.35 billion, a PE ratio of 41.68, a P/E/G ratio of 1.07 and a beta of 1.55. Blackstone Inc. has a twelve month low of $115.82 and a twelve month high of $200.96.

Blackstone (NYSE:BX) last issued its earnings results on Thursday, January 30th. The asset manager reported $1.69 EPS 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%. Research analysts anticipate that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were issued a dividend of $1.44 per share. This represents a $5.76 dividend on an annualized basis and a yield of 3.81%. This is an increase from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Monday, February 10th. Blackstone’s payout ratio is presently 158.68%.

Analyst Ratings Changes

Several analysts have issued reports on the stock. JPMorgan Chase & Co. boosted their target price on shares of Blackstone from $149.00 to $154.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Keefe, Bruyette & Woods raised their price objective on Blackstone from $174.00 to $177.00 and gave the stock a “market perform” rating in a research report on Friday, January 31st. TD Cowen upgraded Blackstone from a “hold” rating to a “buy” rating and upped their target price for the company from $149.00 to $230.00 in a report on Monday, December 9th. StockNews.com downgraded shares of Blackstone from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Finally, Piper Sandler boosted 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. Twelve analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $171.13.

Insider Transactions at Blackstone

In other Blackstone news, Director Ruth Porat purchased 301 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were acquired at an average cost of $164.85 per share, for a total transaction of $49,619.85. Following the transaction, the director now directly owns 36,829 shares in the company, valued at approximately $6,071,260.65. The trade was a 0.82 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 1.00% of the stock is currently owned by insiders.

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.