Proactive Wealth Strategies LLC Boosts Stake in Blackstone Inc. (NYSE:BX)

Proactive Wealth Strategies LLC grew its stake in Blackstone Inc. (NYSE:BX) by 0.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 18,902 shares of the asset manager’s stock after acquiring an additional 155 shares during the quarter. Blackstone makes up approximately 1.7% of Proactive Wealth Strategies LLC’s investment portfolio, making the stock its 16th biggest position. Proactive Wealth Strategies LLC’s holdings in Blackstone were worth $3,259,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors increased its stake in Blackstone by 4.7% during the fourth quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 2,018 shares of the asset manager’s stock worth $348,000 after acquiring an additional 90 shares during the last quarter. Kestra Investment Management LLC acquired a new position in Blackstone during the 4th quarter worth about $66,000. Atria Wealth Solutions Inc. increased its stake in Blackstone by 2.5% during the fourth quarter. Atria Wealth Solutions Inc. now owns 48,643 shares of the asset manager’s stock worth $8,387,000 after purchasing an additional 1,176 shares during the period. Venturi Wealth Management LLC lifted its holdings in Blackstone by 43.4% during the 4th quarter. Venturi Wealth Management LLC now owns 4,088 shares of the asset manager’s stock worth $705,000 after buying an additional 1,237 shares in the last quarter. Finally, Citizens & Northern Corp boosted its holdings in Blackstone by 2.7% in the fourth quarter. Citizens & Northern Corp now owns 12,807 shares of the asset manager’s stock valued at $2,208,000 after purchasing an additional 338 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Keefe, Bruyette & Woods raised 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. UBS Group raised their price target on Blackstone from $170.00 to $180.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Citigroup raised their target price on Blackstone from $170.00 to $190.00 and gave the company a “neutral” rating in a report on Friday, January 31st. TD Cowen upgraded shares of Blackstone from a “hold” rating to a “buy” rating and increased their price target for the company from $149.00 to $230.00 in a report on Monday, December 9th. Finally, Piper Sandler increased their target price on shares of Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a report on Monday, December 23rd. Thirteen analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $172.38.

Blackstone Stock Up 2.9 %

Shares of Blackstone stock opened at $165.09 on Tuesday. The stock has a market cap of $119.19 billion, a price-to-earnings ratio of 45.48, a price-to-earnings-growth ratio of 1.13 and a beta of 1.53. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. Blackstone Inc. has a twelve month low of $115.82 and a twelve month high of $200.96. The company has a fifty day moving average price of $176.09 and a 200 day moving average price of $164.60.

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%. Equities research analysts forecast that Blackstone Inc. will post 5.88 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Monday, February 10th will be paid a dividend of $1.44 per share. This is a boost from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date of this dividend is Monday, February 10th. Blackstone’s payout ratio is currently 94.77%.

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.