Foguth Wealth Management LLC. Takes Position in Blackstone Inc. $BX

Foguth Wealth Management LLC. bought a new stake in Blackstone Inc. (NYSE:BX) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 6,456 shares of the asset manager’s stock, valued at approximately $1,025,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. GAMMA Investing LLC raised its position in Blackstone by 1.8% during the fourth quarter. GAMMA Investing LLC now owns 12,697 shares of the asset manager’s stock worth $1,957,000 after acquiring an additional 226 shares during the last quarter. PMG Family Office LLC purchased a new position in shares of Blackstone during the 3rd quarter worth approximately $629,000. Finivi Inc. purchased a new stake in Blackstone in the 3rd quarter valued at approximately $218,000. FNY Investment Advisers LLC acquired a new stake in Blackstone during the 3rd quarter valued at $341,000. Finally, Saranac Partners Ltd acquired a new position in shares of Blackstone in the third quarter worth $53,000. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Blackstone Trading Down 0.1%

BX opened at $113.46 on Friday. The firm’s 50 day moving average is $131.10 and its 200-day moving average is $148.91. The firm has a market capitalization of $84.21 billion, a P/E ratio of 29.24, a P/E/G ratio of 0.90 and a beta of 1.79. Blackstone Inc. has a 52-week low of $101.73 and a 52-week high of $190.09. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.61.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, January 29th. The asset manager reported $1.75 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.21. Blackstone had a net margin of 20.89% and a return on equity of 22.17%. The company had revenue of $4.36 billion during the quarter, compared to analysts’ expectations of $3.69 billion. During the same period in the prior year, the company posted $1.69 EPS. The firm’s revenue for the quarter was up 41.4% on a year-over-year basis. Analysts expect that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 17th. Stockholders of record on Monday, February 9th were paid a dividend of $1.49 per share. This is an increase from Blackstone’s previous quarterly dividend of $1.29. The ex-dividend date was Monday, February 9th. This represents a $5.96 annualized dividend and a dividend yield of 5.3%. Blackstone’s dividend payout ratio (DPR) is currently 153.61%.

Insider Buying and Selling

In related news, major shareholder Holdings Iv Gp Mana Blackstone bought 1,146,789 shares of the business’s stock in a transaction dated Monday, February 23rd. The shares were acquired at an average price of $26.16 per share, for a total transaction of $30,000,000.24. Following the purchase, the insider owned 16,716,249 shares in the company, valued at $437,297,073.84. This trade represents a 7.37% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of Blackstone stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $10.00, for a total value of $15,961,420.00. The SEC filing for this sale provides additional information. Insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. BNP Paribas Exane cut their price objective on shares of Blackstone from $167.00 to $156.00 and set a “neutral” rating for the company in a research report on Monday, January 12th. Piper Sandler cut their price target on Blackstone from $168.00 to $158.00 and set a “neutral” rating for the company in a report on Monday, February 2nd. Jefferies Financial Group decreased their price objective on Blackstone from $185.00 to $161.00 and set a “buy” rating on the stock in a report on Tuesday, February 10th. TD Cowen dropped their target price on Blackstone from $183.00 to $164.00 and set a “buy” rating for the company in a research note on Thursday, February 12th. Finally, Royal Bank Of Canada started coverage on Blackstone in a research note on Monday, February 23rd. They issued an “outperform” rating and a $179.00 price target on the stock. Eleven analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Blackstone presently has a consensus rating of “Moderate Buy” and a consensus target price of $165.86.

Blackstone Company Profile

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.