Comprehensive Financial Planning Inc. PA Acquires New Shares in Blackstone Inc. (NYSE:BX)

Comprehensive Financial Planning Inc. PA purchased a new position in shares of Blackstone Inc. (NYSE:BX) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 200 shares of the asset manager’s stock, valued at approximately $34,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Glen Eagle Advisors LLC boosted its position in Blackstone by 1.8% during the third quarter. Glen Eagle Advisors LLC now owns 3,251 shares of the asset manager’s stock valued at $498,000 after acquiring an additional 59 shares during the last quarter. Investmark Advisory Group LLC increased its holdings in Blackstone by 2.4% in the third quarter. Investmark Advisory Group LLC now owns 2,608 shares of the asset manager’s stock worth $399,000 after purchasing an additional 60 shares in the last quarter. Raleigh Capital Management Inc. boosted its holdings in shares of Blackstone by 32.1% during the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after buying an additional 62 shares in the last quarter. Capital Advisors Ltd. LLC lifted its position in shares of Blackstone by 2.3% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 2,787 shares of the asset manager’s stock valued at $427,000 after acquiring an additional 62 shares during the period. Finally, Fidelis Capital Partners LLC boosted its position in shares of Blackstone by 2.7% during the 3rd quarter. Fidelis Capital Partners LLC now owns 2,374 shares of the asset manager’s stock worth $396,000 after purchasing an additional 62 shares in the last quarter. 70.00% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. JPMorgan Chase & Co. increased their price target on Blackstone from $149.00 to $154.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. TD Cowen upgraded Blackstone from a “hold” rating to a “buy” rating and raised their target price for the company from $149.00 to $230.00 in a report on Monday, December 9th. UBS Group raised their price objective on Blackstone from $170.00 to $180.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Finally, Piper Sandler boosted their target price on Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a research note on Monday, December 23rd. Thirteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $172.38.

Blackstone Stock Performance

Blackstone stock opened at $168.52 on Tuesday. The firm has a market capitalization of $121.67 billion, a PE ratio of 46.42, 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. The firm’s 50 day simple moving average is $178.36 and its 200 day simple moving average is $163.80. 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 issued its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 EPS for the quarter, topping 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%. As a group, analysts expect that Blackstone Inc. will post 5.88 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th will be given a dividend of $1.44 per share. The ex-dividend date is Monday, February 10th. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 annualized dividend and a dividend yield of 3.42%. Blackstone’s dividend payout ratio is 158.68%.

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.