1,450 Shares in Blackstone Inc. (NYSE:BX) Acquired by Foundation Wealth Management LLC PA

Foundation Wealth Management LLC PA purchased a new position in Blackstone Inc. (NYSE:BX) during the fourth quarter, Holdings Channel.com reports. The firm purchased 1,450 shares of the asset manager’s stock, valued at approximately $250,000.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Blackstone by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 66,894,632 shares of the asset manager’s stock valued at $11,533,972,000 after purchasing an additional 889,286 shares in the last quarter. State Street Corp increased its position in Blackstone by 1.2% during the third quarter. State Street Corp now owns 30,020,426 shares of the asset manager’s stock worth $4,597,028,000 after buying an additional 348,751 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Blackstone by 2.3% in 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 buying an additional 336,308 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Blackstone by 2.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,045,143 shares of the asset manager’s stock valued at $697,464,000 after acquiring an additional 113,732 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Blackstone by 3.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,430,909 shares of the asset manager’s stock valued at $525,375,000 after acquiring an additional 116,367 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Transactions at Blackstone

In other Blackstone news, Director Ruth Porat acquired 301 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was purchased at an average price of $164.85 per share, for a total transaction of $49,619.85. Following the transaction, the director now owns 36,829 shares in the company, valued at $6,071,260.65. This trade represents a 0.82 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is owned by company insiders.

Blackstone Stock Performance

NYSE BX opened at $146.76 on Thursday. Blackstone Inc. has a twelve month low of $115.82 and a twelve month high of $200.96. The stock has a market cap of $107.05 billion, a P/E ratio of 40.43, a PEG ratio of 1.07 and a beta of 1.55. The company’s 50-day simple moving average is $162.33 and its 200 day simple moving average is $167.54. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61.

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 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%. As a group, research analysts forecast that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were paid a dividend of $1.44 per share. This represents a $5.76 annualized dividend and a yield of 3.92%. This is a boost from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date was Monday, February 10th. Blackstone’s dividend payout ratio is currently 158.68%.

Analyst Upgrades and Downgrades

BX has been the topic of several analyst reports. Citigroup reiterated a “hold” rating on shares of Blackstone in a report on Friday, February 7th. BMO Capital Markets boosted their target price on shares of Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a research report on Thursday, December 19th. Keefe, Bruyette & Woods raised their price target on Blackstone from $174.00 to $177.00 and gave the company a “market perform” rating in a research report on Friday, January 31st. Piper Sandler increased their target price on Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a research note on Monday, December 23rd. Finally, JPMorgan Chase & Co. lifted their price target on Blackstone from $149.00 to $154.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Twelve analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Blackstone currently has an average rating of “Hold” and a consensus target price of $171.13.

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.