Tyche Wealth Partners LLC Buys Shares of 5,847 Blackstone Inc. (NYSE:BX)

Tyche Wealth Partners LLC bought a new position in shares of Blackstone Inc. (NYSE:BX) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 5,847 shares of the asset manager’s stock, valued at approximately $765,000.

Several other large investors have also added to or reduced their stakes in BX. Vanguard Group Inc. raised its holdings in shares of Blackstone by 30.2% during the third quarter. Vanguard Group Inc. now owns 62,091,903 shares of the asset manager’s stock valued at $6,652,526,000 after acquiring an additional 14,396,655 shares during the last quarter. Norges Bank acquired a new stake in shares of Blackstone in the fourth quarter valued at approximately $510,355,000. Moneta Group Investment Advisors LLC increased its holdings in shares of Blackstone by 96,256.0% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 5,790,996 shares of the asset manager’s stock valued at $429,634,000 after purchasing an additional 5,784,986 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of Blackstone by 13,816.5% in the fourth quarter. International Assets Investment Management LLC now owns 3,623,868 shares of the asset manager’s stock valued at $4,744,370,000 after purchasing an additional 3,597,828 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Blackstone by 43.9% in the third quarter. Northern Trust Corp now owns 6,877,288 shares of the asset manager’s stock valued at $736,833,000 after purchasing an additional 2,098,150 shares during the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Stock Performance

Shares of BX traded up $0.71 during midday trading on Wednesday, reaching $121.88. 3,540,130 shares of the stock were exchanged, compared to its average volume of 2,705,394. The business’s 50-day moving average price is $126.87 and its 200 day moving average price is $117.60. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.80 and a quick ratio of 0.80. Blackstone Inc. has a twelve month low of $79.92 and a twelve month high of $133.56. The company has a market capitalization of $87.10 billion, a price-to-earnings ratio of 66.60, a PEG ratio of 0.99 and a beta of 1.51.

Blackstone (NYSE:BX) last released its quarterly earnings results on Thursday, January 25th. The asset manager reported $1.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.16. Blackstone had a return on equity of 17.30% and a net margin of 17.34%. The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $2.48 billion. During the same quarter last year, the company posted $1.07 earnings per share. On average, sell-side analysts expect that Blackstone Inc. will post 4.88 EPS for the current fiscal year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 12th. Shareholders of record on Monday, February 5th were issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date of this dividend was Friday, February 2nd. This is a positive change from Blackstone’s previous quarterly dividend of $0.80. Blackstone’s payout ratio is currently 205.46%.

Insider Buying and Selling at Blackstone

In other news, Director Ruth Porat purchased 232 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were acquired at an average price of $127.08 per share, with a total value of $29,482.56. Following the purchase, the director now directly owns 34,225 shares of the company’s stock, valued at $4,349,313. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Ruth Porat purchased 232 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were acquired at an average price of $127.08 per share, with a total value of $29,482.56. Following the purchase, the director now directly owns 34,225 shares of the company’s stock, valued at $4,349,313. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of Blackstone stock in a transaction that occurred on Sunday, March 3rd. The stock was sold at an average price of $11.10, for a total value of $27,853,407.60. Following the transaction, the insider now owns 12,802 shares of the company’s stock, valued at $142,102.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,587,168 shares of company stock valued at $37,816,476. 1.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

BX has been the subject of several recent research reports. Barclays increased their price target on Blackstone from $126.00 to $129.00 and gave the company an “equal weight” rating in a report on Monday, April 8th. BMO Capital Markets increased their price objective on Blackstone from $95.00 to $101.00 and gave the stock a “market perform” rating in a research report on Friday, January 26th. TheStreet lowered Blackstone from a “b” rating to a “c+” rating in a research report on Thursday, January 25th. The Goldman Sachs Group lowered Blackstone from a “buy” rating to a “neutral” rating and raised their price target for the stock from $115.00 to $128.00 in a research report on Wednesday, January 3rd. Finally, JMP Securities restated a “market perform” rating on shares of Blackstone in a research report on Tuesday, April 9th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Blackstone has an average rating of “Hold” and an average target price of $119.92.

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.