Blackstone Inc. (NYSE:BX) Shares Sold by E&G Advisors LP

E&G Advisors LP cut its position in shares of Blackstone Inc. (NYSE:BX) by 1.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,384 shares of the asset manager’s stock after selling 100 shares during the quarter. E&G Advisors LP’s holdings in Blackstone were worth $1,780,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of BX. West Financial Advisors LLC bought a new stake in Blackstone in the third quarter valued at about $27,000. Bangor Savings Bank raised its position in shares of Blackstone by 187.5% during the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 105 shares in the last quarter. Berbice Capital Management LLC acquired a new position in Blackstone in the fourth quarter worth $34,000. Raleigh Capital Management Inc. grew its position 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 valued at $39,000 after buying an additional 62 shares during the last quarter. Finally, Kieckhefer Group LLC acquired a new position in Blackstone in the fourth quarter valued at approximately $39,000. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on BX shares. BMO Capital Markets boosted their target price on shares of Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a research note on Thursday, December 19th. JPMorgan Chase & Co. raised their target price on Blackstone from $149.00 to $154.00 and gave the company a “neutral” rating in a research report on Friday. Bank of America raised their price target on Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a report on Friday, October 18th. Barclays lowered their target price on shares of Blackstone from $192.00 to $186.00 and set an “equal weight” rating on the stock in a research note on Friday. Finally, TD Cowen upgraded shares of Blackstone from a “hold” rating to a “buy” rating and raised their price objective for the company from $149.00 to $230.00 in a research note on Monday, December 9th. Thirteen research 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, Blackstone currently has an average rating of “Hold” and an average price target of $172.38.

Insider Activity at Blackstone

In other news, insider John G. Finley sold 42,249 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the completion of the sale, the insider now owns 387,137 shares of the company’s stock, valued at approximately $68,112,883.78. This trade represents a 9.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.00% of the stock is owned by company insiders.

Blackstone Trading Down 2.0 %

Shares of NYSE BX opened at $173.55 on Tuesday. The firm has a market capitalization of $125.30 billion, a PE ratio of 47.81, a PEG ratio of 1.18 and a beta of 1.53. Blackstone Inc. has a one year low of $115.82 and a one year high of $200.96. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. The business has a 50-day moving average price of $180.15 and a two-hundred day moving average price of $162.63.

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

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th will be given a $1.44 dividend. This represents a $5.76 annualized dividend and a yield of 3.32%. This is an increase from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend is Monday, February 10th. Blackstone’s payout ratio is currently 94.77%.

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.