Financial Partners Group Inc Acquires 131 Shares of Blackstone Inc. (NYSE:BX)

Financial Partners Group Inc increased its stake in Blackstone Inc. (NYSE:BX) by 3.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 3,927 shares of the asset manager’s stock after purchasing an additional 131 shares during the quarter. Financial Partners Group Inc’s holdings in Blackstone were worth $677,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of BX. State Street Corp grew its stake in shares of Blackstone by 1.2% during the 3rd quarter. State Street Corp now owns 30,020,426 shares of the asset manager’s stock valued at $4,597,028,000 after acquiring an additional 348,751 shares during the period. Geode Capital Management LLC boosted 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 purchasing an additional 336,308 shares during the period. International Assets Investment Management LLC raised its position in shares of Blackstone by 15,357.3% during the 3rd quarter. International Assets Investment Management LLC now owns 4,201,150 shares of the asset manager’s stock valued at $6,433,220,000 after purchasing an additional 4,173,971 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Blackstone by 1.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,931,411 shares of the asset manager’s stock worth $602,017,000 after buying an additional 61,739 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Blackstone by 3.5% during the third 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 during the period. Institutional investors own 70.00% of the company’s stock.

Blackstone Stock Down 0.5 %

NYSE BX opened at $176.92 on Monday. Blackstone Inc. has a 52 week low of $115.82 and a 52 week high of $200.96. The firm has a market capitalization of $127.74 billion, a price-to-earnings ratio of 48.74, a PEG ratio of 1.18 and a beta of 1.53. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. The company has a fifty day moving average of $180.15 and a two-hundred day moving average of $162.43.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 earnings per share for the quarter, topping 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, analysts predict that Blackstone Inc. will post 5.86 earnings per share for the current year.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th will be paid a $1.44 dividend. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date is Monday, February 10th. This represents a $5.76 dividend on an annualized basis and a yield of 3.26%. Blackstone’s dividend payout ratio (DPR) is presently 94.77%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on BX shares. Citigroup increased their target price on Blackstone from $170.00 to $190.00 and gave the stock a “neutral” rating in a research report on Friday. Piper Sandler boosted their target price on shares of Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a report on Monday, December 23rd. BMO Capital Markets lifted their price target on shares of Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a report on Thursday, December 19th. StockNews.com downgraded shares of Blackstone from a “buy” rating to a “hold” rating in a report on Friday. Finally, Evercore ISI boosted their target price on Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Thirteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $171.13.

Insider Transactions at Blackstone

In other news, insider John G. Finley sold 42,249 shares of Blackstone stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the completion of the sale, the insider now owns 387,137 shares of the company’s stock, valued at approximately $68,112,883.78. The trade was a 9.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.00% of the company’s stock.

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.