Tyche Wealth Partners LLC Makes New $765,000 Investment in Blackstone Inc. (NYSE:BX)

Tyche Wealth Partners LLC bought a new position in Blackstone Inc. (NYSE:BX) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 5,847 shares of the asset manager’s stock, valued at approximately $765,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Blackstone by 0.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 126,453 shares of the asset manager’s stock valued at $16,555,000 after purchasing an additional 699 shares in the last quarter. Everence Capital Management Inc. raised its holdings in shares of Blackstone by 120.1% during the 4th quarter. Everence Capital Management Inc. now owns 9,510 shares of the asset manager’s stock valued at $1,245,000 after purchasing an additional 5,190 shares in the last quarter. Octavia Wealth Advisors LLC grew its stake in Blackstone by 1.9% in the 4th quarter. Octavia Wealth Advisors LLC now owns 5,398 shares of the asset manager’s stock valued at $707,000 after buying an additional 102 shares during the last quarter. Marino Stram & Associates LLC grew its stake in Blackstone by 3.8% in the 4th quarter. Marino Stram & Associates LLC now owns 2,592 shares of the asset manager’s stock valued at $339,000 after buying an additional 96 shares during the last quarter. Finally, Bourgeon Capital Management LLC grew its stake in Blackstone by 86.2% in the 4th quarter. Bourgeon Capital Management LLC now owns 216 shares of the asset manager’s stock valued at $28,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Trading Up 0.6 %

NYSE:BX traded up $0.71 during trading hours on Wednesday, hitting $121.88. The stock had a trading volume of 3,540,130 shares, compared to its average volume of 2,705,394. Blackstone Inc. has a one year low of $79.92 and a one year high of $133.56. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market cap of $87.10 billion, a price-to-earnings ratio of 66.60, a P/E/G ratio of 0.99 and a beta of 1.51. The business’s 50 day moving average is $126.87 and its 200-day moving average is $117.60.

Blackstone (NYSE:BX) last issued its quarterly earnings data on Thursday, January 25th. The asset manager reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.16. Blackstone had a net margin of 17.34% and a return on equity of 17.30%. The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $2.48 billion. During the same quarter in the prior year, the firm earned $1.07 earnings per share. Sell-side analysts anticipate that Blackstone Inc. will post 4.88 EPS for the current fiscal year.

Blackstone Increases Dividend

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

Wall Street Analyst Weigh In

BX has been the topic of several research analyst reports. Oppenheimer lowered shares of Blackstone from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 11th. Barclays lifted their target price on shares of Blackstone from $126.00 to $129.00 and gave the company an “equal weight” rating in a research report on Monday, April 8th. The Goldman Sachs Group downgraded shares of Blackstone from a “buy” rating to a “neutral” rating and lifted their price target for the company from $115.00 to $128.00 in a report on Wednesday, January 3rd. TD Cowen assumed coverage on shares of Blackstone in a research report on Thursday, January 4th. They set a “market perform” rating and a $118.00 target price on the stock. Finally, Morgan Stanley upped their target price on shares of Blackstone from $120.00 to $144.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $119.92.

Insider Transactions at Blackstone

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

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.