One Wealth Capital Management LLC Purchases New Shares in Blackstone Inc. (NYSE:BX)

One Wealth Capital Management LLC purchased a new position in shares of Blackstone Inc. (NYSE:BX) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,219 shares of the asset manager’s stock, valued at approximately $210,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. 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 worth $498,000 after purchasing an additional 59 shares during the last quarter. Investmark Advisory Group LLC grew its position in Blackstone by 2.4% in the third quarter. Investmark Advisory Group LLC now owns 2,608 shares of the asset manager’s stock valued at $399,000 after acquiring an additional 60 shares during the period. Raleigh Capital Management Inc. increased its holdings in shares of Blackstone by 32.1% during the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after buying an additional 62 shares in the last quarter. Capital Advisors Ltd. LLC lifted its position in Blackstone by 2.3% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 2,787 shares of the asset manager’s stock worth $427,000 after buying an additional 62 shares in the last quarter. Finally, Fidelis Capital Partners LLC increased its stake in shares of Blackstone by 2.7% in the 3rd quarter. Fidelis Capital Partners LLC now owns 2,374 shares of the asset manager’s stock valued at $396,000 after buying an additional 62 shares during the period. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. lifted their price objective on Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Bank of America lifted their target price on Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Cowen reissued a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. Citigroup lifted their price target on Blackstone from $157.00 to $170.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Finally, BMO Capital Markets upped their price target on shares of Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a research note on Thursday, December 19th. Fourteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Blackstone presently has an average rating of “Hold” and a consensus target price of $171.00.

Insider Activity 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 approximately $68,112,883.78. This trade represents a 9.84 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.00% of the stock is currently owned by corporate insiders.

Blackstone Price Performance

Blackstone stock traded down $4.03 during midday trading on Tuesday, reaching $170.76. The company’s stock had a trading volume of 1,958,142 shares, compared to its average volume of 1,978,975. Blackstone Inc. has a 52 week low of $114.88 and a 52 week high of $200.96. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The stock has a market cap of $123.29 billion, a PE ratio of 58.68, a price-to-earnings-growth ratio of 1.63 and a beta of 1.53. The business has a 50-day moving average price of $180.59 and a 200-day moving average price of $155.66.

Blackstone (NYSE:BX) last released its quarterly earnings results on Thursday, October 17th. The asset manager reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.10. The firm had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.37 billion. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. On average, sell-side analysts predict that Blackstone Inc. will post 4.43 EPS for the current year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Monday, October 28th were issued a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.01%. This is a boost from Blackstone’s previous quarterly dividend of $0.82. The ex-dividend date was Monday, October 28th. Blackstone’s dividend payout ratio is presently 118.21%.

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.