Robertson Stephens Wealth Management LLC Sells 2,787 Shares of Blackstone Inc. (NYSE:BX)

Robertson Stephens Wealth Management LLC reduced its position in shares of Blackstone Inc. (NYSE:BX) by 36.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,904 shares of the asset manager’s stock after selling 2,787 shares during the period. Robertson Stephens Wealth Management LLC’s holdings in Blackstone were worth $845,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Bangor Savings Bank lifted its position in shares of Blackstone by 187.5% during the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 105 shares in the last quarter. Hager Investment Management Services LLC bought a new position in shares of Blackstone during the fourth quarter valued at about $28,000. Berbice Capital Management LLC bought a new stake in Blackstone in the fourth quarter worth about $34,000. Kieckhefer Group LLC bought a new stake in Blackstone in the fourth quarter worth about $39,000. Finally, Raleigh Capital Management Inc. raised its position in Blackstone by 32.1% in the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after acquiring an additional 62 shares during the period. 70.00% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the stock. Evercore ISI lifted their price objective on shares of Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. lifted their target price on shares of Blackstone from $149.00 to $154.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Bank of America lifted their target price on shares of Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Finally, BMO Capital Markets lifted their target price on shares of Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a research note on Thursday, December 19th. Thirteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $172.38.

Blackstone Price Performance

BX stock opened at $170.11 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71. Blackstone Inc. has a one year low of $115.82 and a one year high of $200.96. The stock has a market cap of $122.82 billion, a PE ratio of 46.86, a P/E/G ratio of 1.18 and a beta of 1.53. The firm has a 50 day simple moving average of $178.78 and a two-hundred day simple moving average of $163.28.

Blackstone (NYSE:BX) last released its quarterly earnings results on Thursday, January 30th. The asset manager reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.19. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. On average, analysts predict that Blackstone Inc. will post 5.86 EPS for the current fiscal year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th will be issued a $1.44 dividend. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.39%. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date is Monday, February 10th. Blackstone’s payout ratio is presently 94.77%.

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.