Center for Financial Planning Inc. Has $133,000 Position in Blackstone Inc. (NYSE:BX)

Center for Financial Planning Inc. boosted its position in Blackstone Inc. (NYSE:BX) by 18.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 770 shares of the asset manager’s stock after buying an additional 120 shares during the quarter. Center for Financial Planning Inc.’s holdings in Blackstone were worth $133,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Vicus Capital acquired a new stake in Blackstone in the 4th quarter valued at approximately $330,000. Banque Pictet & Cie SA grew its stake in Blackstone by 1,629.2% in the fourth quarter. Banque Pictet & Cie SA now owns 31,472 shares of the asset manager’s stock valued at $5,426,000 after purchasing an additional 29,652 shares in the last quarter. First Merchants Corp grew its stake in Blackstone by 8.4% in the fourth quarter. First Merchants Corp now owns 2,841 shares of the asset manager’s stock valued at $490,000 after purchasing an additional 220 shares in the last quarter. Walkner Condon Financial Advisors LLC bought a new position in Blackstone in the fourth quarter valued at approximately $216,000. Finally, Values Added Financial LLC bought a new position in Blackstone in the fourth quarter valued at approximately $205,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Price Performance

Shares of NYSE BX opened at $165.09 on Friday. 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 Inc. has a fifty-two week low of $115.82 and a fifty-two week high of $200.96. The stock has a market capitalization of $119.20 billion, a PE ratio of 45.48, a P/E/G ratio of 1.13 and a beta of 1.53. The business has a fifty day moving average price of $176.53 and a two-hundred day moving average price of $164.11.

Blackstone (NYSE:BX) last posted its quarterly earnings results 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 return on equity of 19.58% and a net margin of 20.99%. As a group, equities analysts predict that Blackstone Inc. will post 5.88 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th will be issued a dividend of $1.44 per share. The ex-dividend date is Monday, February 10th. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.49%. This is a boost from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s payout ratio is 158.68%.

Analysts Set New Price Targets

BX has been the subject of several research analyst reports. Bank of America lifted their target price on Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. TD Cowen upgraded Blackstone from a “hold” rating to a “buy” rating and lifted their target price for the stock from $149.00 to $230.00 in a research note on Monday, December 9th. Wells Fargo & Company reduced their price target on Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. BMO Capital Markets boosted their price target on Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a research note on Thursday, December 19th. Finally, UBS Group boosted their price target on Blackstone from $170.00 to $180.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Thirteen research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Blackstone presently has an average rating of “Hold” and an average target price of $172.38.

Blackstone Company 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.