Nadler Financial Group Inc. Acquires 2,198 Shares of Blackstone Inc. (NYSE:BX)

Nadler Financial Group Inc. boosted its holdings in Blackstone Inc. (NYSE:BX) by 99.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 4,403 shares of the asset manager’s stock after acquiring an additional 2,198 shares during the quarter. Nadler Financial Group Inc.’s holdings in Blackstone were worth $759,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. DAVENPORT & Co LLC raised its holdings in Blackstone by 9.0% in the fourth quarter. DAVENPORT & Co LLC now owns 52,784 shares of the asset manager’s stock worth $9,101,000 after buying an additional 4,340 shares during the last quarter. Tritonpoint Wealth LLC lifted its position in Blackstone by 2.9% in the 4th quarter. Tritonpoint Wealth LLC now owns 34,258 shares of the asset manager’s stock valued at $5,907,000 after acquiring an additional 980 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. increased its holdings in shares of Blackstone by 5.1% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 21,797 shares of the asset manager’s stock worth $3,758,000 after purchasing an additional 1,048 shares in the last quarter. Western Financial Corp CA bought a new position in shares of Blackstone during the fourth quarter valued at $623,000. Finally, Chicago Partners Investment Group LLC increased its holdings in Blackstone by 16.7% in the 4th quarter. Chicago Partners Investment Group LLC now owns 208,621 shares of the asset manager’s stock worth $36,294,000 after buying an additional 29,892 shares in the last quarter. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Blackstone Stock Down 0.5 %

NYSE BX opened at $176.92 on Friday. The company has a fifty day moving average of $180.15 and a two-hundred day moving average of $162.43. The firm has a market capitalization of $127.74 billion, a price-to-earnings ratio of 60.80, a PEG ratio of 1.24 and a beta of 1.53. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. Blackstone Inc. has a 52 week low of $115.82 and a 52 week high of $200.96.

Blackstone (NYSE:BX) last announced 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 net margin of 19.46% and a return on equity of 17.53%. On average, analysts predict that Blackstone Inc. will post 4.41 earnings per share for the current year.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th will be given a dividend of $1.44 per share. This represents a $5.76 annualized dividend and a dividend yield of 3.26%. This is an increase from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date is Monday, February 10th. Blackstone’s dividend payout ratio (DPR) is 118.21%.

Wall Street Analysts Forecast Growth

BX has been the topic of a number of recent analyst reports. BMO Capital Markets raised their price target 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. Piper Sandler boosted their target price 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. Cowen restated a “hold” rating on shares of Blackstone in a research note on Friday, October 18th. Bank of America increased their target price on Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a report on Friday, October 18th. Finally, Barclays reduced their price target on shares of Blackstone from $192.00 to $186.00 and set an “equal weight” rating for the company in a research report on Friday. Thirteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. 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, insider John G. Finley sold 42,249 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the transaction, the insider now directly owns 387,137 shares in the company, valued at $68,112,883.78. This trade represents a 9.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.00% of the company’s stock.

About Blackstone

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.