Centricity Wealth Management LLC Invests $30,000 in Blackstone Inc. (NYSE:BX)

Centricity Wealth Management LLC acquired a new position in shares of Blackstone Inc. (NYSE:BX) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 172 shares of the asset manager’s stock, valued at approximately $30,000.

A number of other institutional investors and hedge funds have also made changes to their positions in BX. Allspring Global Investments Holdings LLC boosted its holdings in Blackstone by 50.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 144,781 shares of the asset manager’s stock worth $22,170,000 after acquiring an additional 48,601 shares in the last quarter. Greenleaf Trust raised its position in shares of Blackstone by 27.1% in the 3rd quarter. Greenleaf Trust now owns 5,911 shares of the asset manager’s stock worth $905,000 after purchasing an additional 1,262 shares during the last quarter. McAdam LLC purchased a new stake in Blackstone during the 3rd quarter valued at about $249,000. Assenagon Asset Management S.A. raised its holdings in Blackstone by 8.8% in the third quarter. Assenagon Asset Management S.A. now owns 17,555 shares of the asset manager’s stock worth $2,688,000 after buying an additional 1,425 shares during the last quarter. Finally, Cambridge Advisors Inc. bought a new position in shares of Blackstone in the third quarter worth approximately $230,000. Institutional investors own 70.00% of the company’s stock.

Insider Activity at Blackstone

In other news, Director Ruth Porat purchased 301 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was bought at an average cost of $164.85 per share, with a total value of $49,619.85. Following the completion of the purchase, the director now owns 36,829 shares in the company, valued at approximately $6,071,260.65. This represents a 0.82 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

Blackstone Stock Performance

BX opened at $158.21 on Friday. The firm has a market cap of $114.23 billion, a P/E ratio of 43.58, a PEG ratio of 1.09 and a beta of 1.53. Blackstone Inc. has a 1-year low of $115.82 and a 1-year high of $200.96. The company has a 50 day simple moving average of $173.58 and a two-hundred day simple moving average of $165.23. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71.

Blackstone (NYSE:BX) last issued its quarterly earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.19. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. Equities analysts forecast 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. Stockholders of record on Monday, February 10th were given a dividend of $1.44 per share. The ex-dividend date was Monday, February 10th. This represents a $5.76 annualized dividend and a dividend yield of 3.64%. This is a boost from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s dividend payout ratio (DPR) is presently 158.68%.

Analyst Ratings Changes

A number of brokerages recently weighed in on BX. JPMorgan Chase & Co. boosted their price objective on shares of Blackstone from $149.00 to $154.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Keefe, Bruyette & Woods increased their price objective on Blackstone from $174.00 to $177.00 and gave the company a “market perform” rating in a research report on Friday, January 31st. StockNews.com lowered Blackstone from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Barclays reduced their price target on shares of Blackstone from $192.00 to $186.00 and set an “equal weight” rating for the company in a research note on Friday, January 31st. Finally, UBS Group increased their price objective on shares of Blackstone from $170.00 to $180.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $172.38.

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.