Syntegra Private Wealth Group LLC Boosts Stake in Blackstone Inc. (NYSE:BX)

Syntegra Private Wealth Group LLC boosted its position in shares of Blackstone Inc. (NYSE:BX) by 5.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 37,797 shares of the asset manager’s stock after acquiring an additional 1,788 shares during the quarter. Blackstone comprises about 0.7% of Syntegra Private Wealth Group LLC’s portfolio, making the stock its 19th largest position. Syntegra Private Wealth Group LLC’s holdings in Blackstone were worth $6,517,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of BX. Bangor Savings Bank grew its position in Blackstone by 187.5% during the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock worth $28,000 after purchasing an additional 105 shares during the period. Hager Investment Management Services LLC purchased a new position in Blackstone during the fourth quarter valued at approximately $28,000. West Financial Advisors LLC acquired a new stake in shares of Blackstone during the 3rd quarter worth approximately $27,000. Berbice Capital Management LLC acquired a new position in shares of Blackstone in the 4th quarter valued at $34,000. Finally, Kieckhefer Group LLC acquired a new stake in Blackstone during the fourth quarter valued at $39,000. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Blackstone Stock Performance

Shares of Blackstone stock opened at $174.99 on Thursday. The firm has a market cap of $126.34 billion, a PE ratio of 48.21, a price-to-earnings-growth ratio of 1.18 and a beta of 1.53. Blackstone Inc. has a 52 week low of $115.82 and a 52 week high of $200.96. The business’s fifty day simple moving average is $179.34 and its 200-day simple moving average is $163.11. 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 released its quarterly earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, beating 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 analysts forecast that Blackstone Inc. will post 5.86 earnings per share for the current year.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Monday, February 10th will be issued a dividend of $1.44 per share. This represents a $5.76 dividend on an annualized basis and a yield of 3.29%. 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 (DPR) is 94.77%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on BX shares. UBS Group raised their target price on Blackstone from $170.00 to $180.00 and gave the company a “neutral” rating in a research report on Monday. JPMorgan Chase & Co. upped their target price on Blackstone from $149.00 to $154.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Morgan Stanley upped their price objective on shares of Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. TD Cowen raised shares of Blackstone from a “hold” rating to a “buy” rating and raised their price target for the company from $149.00 to $230.00 in a research note on Monday, December 9th. Finally, Wells Fargo & Company reduced their target price on Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price 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.