LMG Wealth Partners LLC Purchases 98 Shares of Blackstone Inc. (NYSE:BX)

LMG Wealth Partners LLC boosted its position in Blackstone Inc. (NYSE:BX) by 1.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,488 shares of the asset manager’s stock after buying an additional 98 shares during the period. LMG Wealth Partners LLC’s holdings in Blackstone were worth $1,636,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of BX. Glen Eagle Advisors LLC boosted its holdings in shares of Blackstone by 1.8% in the third quarter. Glen Eagle Advisors LLC now owns 3,251 shares of the asset manager’s stock worth $498,000 after acquiring an additional 59 shares during the period. Avidian Wealth Enterprises LLC boosted its stake in Blackstone by 0.4% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 16,184 shares of the asset manager’s stock worth $2,790,000 after purchasing an additional 59 shares during the period. Investmark Advisory Group LLC increased its position in shares of Blackstone by 2.4% during the third quarter. Investmark Advisory Group LLC now owns 2,608 shares of the asset manager’s stock valued at $399,000 after buying an additional 60 shares during the period. Raleigh Capital Management Inc. boosted its position in shares of Blackstone by 32.1% in the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock valued at $39,000 after acquiring an additional 62 shares during the period. Finally, Capital Advisors Ltd. LLC increased its holdings 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 acquiring an additional 62 shares during the period. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BX has been the topic of several research analyst reports. BMO Capital Markets upped their price target on shares of Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a report on Thursday, December 19th. Wells Fargo & Company lowered their price target on Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Piper Sandler increased their price target on shares of Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a report on Monday, December 23rd. Finally, Barclays dropped their price objective on shares of Blackstone from $192.00 to $186.00 and set an “equal weight” rating for the company in a report on Friday, January 31st. Thirteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $172.38.

Blackstone Price Performance

Shares of Blackstone stock opened at $166.81 on Thursday. The stock has a market capitalization of $120.44 billion, a P/E ratio of 45.95, a price-to-earnings-growth ratio of 1.07 and a beta of 1.53. Blackstone Inc. has a one year low of $115.82 and a one year high of $200.96. 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 business’s 50 day simple moving average is $174.71 and its two-hundred day simple moving average is $165.04.

Blackstone (NYSE:BX) last announced its quarterly earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.19. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. Analysts forecast that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th were given a $1.44 dividend. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date of this dividend was Monday, February 10th. Blackstone’s dividend payout ratio (DPR) is currently 158.68%.

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.