Fairvoy Private Wealth LLC Invests $269,000 in Blackstone Inc. (NYSE:BX)

Fairvoy Private Wealth LLC purchased a new stake in Blackstone Inc. (NYSE:BX) in the 4th quarter, according to its most recent filing with the SEC. The fund purchased 1,561 shares of the asset manager’s stock, valued at approximately $269,000.

Several other hedge funds have also made changes to their positions in the business. International Assets Investment Management LLC increased its stake in shares of Blackstone by 15,357.3% during the 3rd quarter. International Assets Investment Management LLC now owns 4,201,150 shares of the asset manager’s stock valued at $6,433,220,000 after acquiring an additional 4,173,971 shares during the last quarter. Jennison Associates LLC raised its stake in Blackstone by 111.1% during the fourth quarter. Jennison Associates LLC now owns 973,348 shares of the asset manager’s stock worth $167,825,000 after purchasing an additional 512,165 shares during the period. Castleark Management LLC purchased a new stake in shares of Blackstone during the 3rd quarter valued at $67,472,000. State Street Corp boosted its holdings in Blackstone by 1.2% in the third quarter. State Street Corp now owns 30,020,426 shares of the asset manager’s stock valued at $4,597,028,000 after acquiring an additional 348,751 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Blackstone by 2.3% during the third quarter. Geode Capital Management LLC now owns 14,896,413 shares of the asset manager’s stock worth $2,272,227,000 after acquiring an additional 336,308 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Stock Down 2.5 %

NYSE:BX opened at $170.11 on Friday. 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 $178.78 and a 200 day simple moving average of $163.28. Blackstone Inc. has a one year low of $115.82 and a one year high of $200.96. The company has a market capitalization of $122.82 billion, a price-to-earnings ratio of 46.86, a price-to-earnings-growth ratio of 1.18 and a beta of 1.53.

Blackstone (NYSE:BX) last released its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 EPS for the quarter, topping 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%. Sell-side analysts predict that Blackstone Inc. will post 5.86 EPS for the current fiscal year.

Blackstone Increases Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 3.39%. This is a boost from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date is Monday, February 10th. Blackstone’s dividend payout ratio is presently 94.77%.

Wall Street Analysts Forecast Growth

BX has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods increased their target price on shares of Blackstone from $174.00 to $177.00 and gave the stock a “market perform” rating in a research report on Friday, January 31st. BMO Capital Markets lifted their target price 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. Deutsche Bank Aktiengesellschaft boosted their price objective on Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. UBS Group raised their target price on Blackstone from $170.00 to $180.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Finally, Barclays dropped their price objective on shares of Blackstone from $192.00 to $186.00 and set an “equal weight” rating on the stock in a research note on Friday, January 31st. Thirteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target 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.