Naviter Wealth LLC Purchases 151 Shares of Blackstone Inc. (NYSE:BX)

Naviter Wealth LLC grew its position in Blackstone Inc. (NYSE:BX) by 2.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,530 shares of the asset manager’s stock after acquiring an additional 151 shares during the period. Naviter Wealth LLC’s holdings in Blackstone were worth $1,126,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Sather Financial Group Inc raised its stake in Blackstone by 202.5% in the third quarter. Sather Financial Group Inc now owns 6,050 shares of the asset manager’s stock valued at $926,000 after buying an additional 4,050 shares during the period. Portside Wealth Group LLC acquired a new stake in Blackstone during the 3rd quarter valued at $201,000. Aljian Capital Management LLC acquired a new position in shares of Blackstone in the third quarter valued at $1,951,000. Icon Wealth Advisors LLC raised its position in shares of Blackstone by 2,185.4% in the third quarter. Icon Wealth Advisors LLC now owns 18,946 shares of the asset manager’s stock valued at $2,901,000 after purchasing an additional 18,117 shares during the period. Finally, Wealthcare Capital Partners LLC bought a new stake in shares of Blackstone during the 4th quarter worth about $2,102,000. 70.00% of the stock is owned by institutional investors.

Analyst Ratings Changes

BX has been the subject of a number of research analyst reports. JPMorgan Chase & Co. boosted their price objective on Blackstone from $149.00 to $154.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. UBS Group reaffirmed a “neutral” rating on shares of Blackstone in a report on Monday, March 3rd. Deutsche Bank Aktiengesellschaft lifted their target price on Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a report on Monday, November 11th. BMO Capital Markets raised their price target 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. Finally, Barclays restated an “equal weight” rating on shares of Blackstone in a research report on Friday, February 7th. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Blackstone currently has a consensus rating of “Hold” and a consensus target price of $172.38.

Insider Buying and Selling at Blackstone

In other Blackstone news, Director Ruth Porat purchased 301 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was purchased at an average cost 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. The trade was a 0.82 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Blackstone Price Performance

Blackstone stock opened at $145.12 on Friday. The stock has a fifty day moving average of $169.33 and a 200-day moving average of $167.00. The stock has a market capitalization of $104.78 billion, a P/E ratio of 39.98, a price-to-earnings-growth ratio of 1.07 and a beta of 1.55. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67. Blackstone Inc. has a 52 week low of $115.82 and a 52 week high of $200.96.

Blackstone (NYSE:BX) last posted 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 net margin of 20.99% and a return on equity of 19.58%. On average, sell-side analysts expect 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. Investors 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 dividend on an annualized basis and a yield of 3.97%. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s payout ratio is currently 158.68%.

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.