AlphaStar Capital Management LLC Purchases New Shares in Blackstone Inc. (NYSE:BX)

AlphaStar Capital Management LLC bought a new stake in Blackstone Inc. (NYSE:BX) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,460 shares of the asset manager’s stock, valued at approximately $252,000.

Other large investors have also recently made changes to their positions in the company. Glen Eagle Advisors LLC grew its holdings in shares of Blackstone by 1.8% in the third quarter. Glen Eagle Advisors LLC now owns 3,251 shares of the asset manager’s stock worth $498,000 after purchasing an additional 59 shares during the last quarter. Investmark Advisory Group LLC grew its stake in Blackstone by 2.4% in the 3rd quarter. Investmark Advisory Group LLC now owns 2,608 shares of the asset manager’s stock worth $399,000 after acquiring an additional 60 shares in the last quarter. Raleigh Capital Management Inc. raised its stake in shares of Blackstone by 32.1% during the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock valued at $39,000 after acquiring an additional 62 shares in the last quarter. Capital Advisors Ltd. LLC grew its stake in Blackstone by 2.3% in the third quarter. Capital Advisors Ltd. LLC now owns 2,787 shares of the asset manager’s stock worth $427,000 after purchasing an additional 62 shares in the last quarter. Finally, Fidelis Capital Partners LLC lifted its holdings in shares of Blackstone by 2.7% in the 3rd quarter. Fidelis Capital Partners LLC now owns 2,374 shares of the asset manager’s stock worth $396,000 after buying an additional 62 shares during the period. 70.00% of the stock is owned by hedge funds and other institutional investors.

Blackstone Trading Down 2.5 %

Shares of NYSE:BX opened at $170.11 on Monday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71. The business’s 50 day moving average price is $178.36 and its 200-day moving average price is $163.62. The firm has a market capitalization of $122.82 billion, a price-to-earnings ratio of 46.86, a price-to-earnings-growth ratio of 1.13 and a beta of 1.53. Blackstone Inc. has a 1 year low of $115.82 and a 1 year high of $200.96.

Blackstone (NYSE:BX) last issued 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, equities research analysts forecast that Blackstone Inc. will post 5.88 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The firm also recently announced 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. 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. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.39%. Blackstone’s dividend payout ratio is presently 94.77%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Keefe, Bruyette & Woods raised their price target on shares of Blackstone from $174.00 to $177.00 and gave the company a “market perform” rating in a report on Friday, January 31st. UBS Group upped their price target on Blackstone from $170.00 to $180.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. TD Cowen upgraded shares of Blackstone from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $149.00 to $230.00 in a research note on Monday, December 9th. Wells Fargo & Company cut their price target on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a report on Monday, November 11th. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $172.38.

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.