Advyzon Investment Management LLC Purchases Shares of 2,211 Blackstone Inc. (NYSE:BX)

Advyzon Investment Management LLC purchased a new stake in Blackstone Inc. (NYSE:BX) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,211 shares of the asset manager’s stock, valued at approximately $381,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bangor Savings Bank increased its position in Blackstone by 187.5% in the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 105 shares during the period. Hager Investment Management Services LLC acquired a new stake in shares of Blackstone during the fourth quarter worth $28,000. Roxbury Financial LLC acquired a new stake in shares of Blackstone during the fourth quarter worth $34,000. Berbice Capital Management LLC acquired a new stake in shares of Blackstone during the fourth quarter worth $34,000. Finally, Comprehensive Financial Planning Inc. PA acquired a new stake in shares of Blackstone during the fourth quarter worth $34,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Stock Up 0.0 %

BX opened at $166.81 on Thursday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71. The company’s 50-day moving average is $174.71 and its 200 day moving average is $165.04. Blackstone Inc. has a fifty-two week low of $115.82 and a fifty-two week high of $200.96. The firm has a market capitalization of $120.44 billion, a P/E ratio of 45.95, a PEG ratio of 1.07 and a beta of 1.53.

Blackstone (NYSE:BX) last released its quarterly 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%. Research analysts expect that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Investors 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 3.45%. The ex-dividend date of this dividend was Monday, February 10th. This is an increase from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s dividend payout ratio (DPR) is 158.68%.

Analysts Set New Price Targets

Several research firms have recently weighed in on BX. Barclays decreased their price objective 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, January 31st. Piper Sandler increased their target price on shares of Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a research note on Monday, December 23rd. JPMorgan Chase & Co. increased their target price on shares of Blackstone from $149.00 to $154.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. TD Cowen raised shares of Blackstone from a “hold” rating to a “buy” rating and increased their target price for the stock from $149.00 to $230.00 in a research note on Monday, December 9th. Finally, Wells Fargo & Company cut their target price on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. Thirteen 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 has an average rating of “Hold” and an average target price of $172.38.

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.