Corient Private Wealth LLC Has $56.55 Million Position in Blackstone Inc. (NYSE:BX)

Corient Private Wealth LLC increased its holdings in shares of Blackstone Inc. (NYSE:BX) by 3.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 356,099 shares of the asset manager’s stock after acquiring an additional 11,110 shares during the period. Corient Private Wealth LLC’s holdings in Blackstone were worth $56,545,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in BX. Envestnet Portfolio Solutions Inc. lifted its holdings in Blackstone by 21.2% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 14,029 shares of the asset manager’s stock valued at $2,419,000 after purchasing an additional 2,453 shares during the last quarter. one8zero8 LLC acquired a new position in Blackstone in the fourth quarter worth $12,117,000. Choate Investment Advisors raised its holdings in shares of Blackstone by 22.1% in the fourth quarter. Choate Investment Advisors now owns 16,842 shares of the asset manager’s stock valued at $2,904,000 after buying an additional 3,053 shares during the last quarter. Diversified Enterprises LLC acquired a new stake in Blackstone in the 4th quarter valued at about $540,000. Finally, Natixis Advisors LLC raised its stake in shares of Blackstone by 37.1% in the fourth quarter. Natixis Advisors LLC now owns 451,137 shares of the asset manager’s stock worth $77,785,000 after acquiring an additional 121,998 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on BX shares. UBS Group restated a “neutral” rating on shares of Blackstone in a research report on Monday, March 3rd. Piper Sandler upped their price target on Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a research note on Monday, December 23rd. TD Cowen upgraded 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 report on Monday, December 9th. Wells Fargo & Company reduced their target price on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. Finally, Citigroup restated a “hold” rating on shares of Blackstone in a report on Friday, February 7th. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Blackstone has an average rating of “Hold” and an average price target of $172.38.

Insider Buying and Selling at Blackstone

In related news, Director Ruth Porat purchased 301 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was purchased at an average cost of $164.85 per share, for a total transaction of $49,619.85. Following the completion of the purchase, the director now directly owns 36,829 shares in the company, valued at $6,071,260.65. This trade represents a 0.82 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.00% of the company’s stock.

Blackstone Stock Up 3.3 %

Blackstone stock opened at $141.01 on Monday. Blackstone Inc. has a twelve month low of $115.82 and a twelve month high of $200.96. 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 50 day moving average of $165.90 and a 200-day moving average of $167.21. The stock has a market capitalization of $102.86 billion, a PE ratio of 38.85, a price-to-earnings-growth ratio of 1.07 and a beta of 1.55.

Blackstone (NYSE:BX) last released its earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.19. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. On average, equities research analysts anticipate 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 18th. Investors of record on Monday, February 10th were issued a dividend of $1.44 per share. This is a boost from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date was Monday, February 10th. This represents a $5.76 annualized dividend and a yield of 4.08%. Blackstone’s dividend payout ratio is presently 158.68%.

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.