1,262 Shares in Blackstone Inc. (NYSE:BX) Acquired by Meadow Creek Wealth Advisors LLC

Meadow Creek Wealth Advisors LLC purchased a new stake in shares of Blackstone Inc. (NYSE:BX) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,262 shares of the asset manager’s stock, valued at approximately $218,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. State Street Corp increased its holdings in shares of Blackstone by 1.2% in 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 grew its position in shares of Blackstone by 2.3% in the 3rd 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. International Assets Investment Management LLC increased its position in shares of Blackstone by 15,357.3% during the third quarter. International Assets Investment Management LLC now owns 4,201,150 shares of the asset manager’s stock worth $6,433,220,000 after purchasing an additional 4,173,971 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of 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 purchasing an additional 61,739 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Blackstone by 3.5% in 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 buying an additional 116,367 shares during the last quarter. 70.00% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BX has been the subject of several research reports. JPMorgan Chase & Co. lifted their price objective on shares of Blackstone from $149.00 to $154.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Deutsche Bank Aktiengesellschaft raised their price objective on Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Citigroup raised their price target on shares of Blackstone from $170.00 to $190.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Morgan Stanley increased their price objective on shares of Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Finally, Evercore ISI increased their price target 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 company’s stock. According to data from MarketBeat.com, Blackstone has an average rating of “Hold” and an average price target of $172.38.

Blackstone Trading Up 2.4 %

BX stock opened at $174.99 on Thursday. The business’s 50-day moving average is $179.34 and its 200 day moving average is $163.11. Blackstone Inc. has a 12-month low of $115.82 and a 12-month high of $200.96. The stock has a market cap of $126.34 billion, a price-to-earnings ratio of 48.21, a PEG ratio of 1.18 and a beta of 1.53. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 EPS for the quarter, beating the consensus estimate of $1.50 by $0.19. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. On average, sell-side analysts anticipate that Blackstone Inc. will post 5.86 EPS for the current fiscal 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 represents a $5.76 dividend on an annualized basis and a yield of 3.29%. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend is Monday, February 10th. Blackstone’s dividend payout ratio (DPR) is 94.77%.

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.