Blackstone Inc. (NYSE:BX) Shares Sold by Jmac Enterprises LLC

Jmac Enterprises LLC lessened its holdings in shares of Blackstone Inc. (NYSE:BX) by 8.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,600 shares of the asset manager’s stock after selling 500 shares during the quarter. Jmac Enterprises LLC’s holdings in Blackstone were worth $966,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. International Assets Investment Management LLC lifted its stake in Blackstone by 15,357.3% in the 3rd quarter. International Assets Investment Management LLC now owns 4,201,150 shares of the asset manager’s stock worth $6,433,220,000 after purchasing an additional 4,173,971 shares in the last quarter. Jennison Associates LLC lifted its position in Blackstone by 111.1% during the fourth quarter. Jennison Associates LLC now owns 973,348 shares of the asset manager’s stock worth $167,825,000 after buying an additional 512,165 shares in the last quarter. Castleark Management LLC purchased a new stake in Blackstone in the 3rd quarter valued at $67,472,000. State Street Corp increased its stake in shares of Blackstone by 1.2% in the 3rd quarter. State Street Corp now owns 30,020,426 shares of the asset manager’s stock worth $4,597,028,000 after acquiring an additional 348,751 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Blackstone by 2.3% in the third quarter. Geode Capital Management LLC now owns 14,896,413 shares of the asset manager’s stock valued at $2,272,227,000 after purchasing an additional 336,308 shares during the period. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Citigroup boosted their target price on shares of Blackstone from $170.00 to $190.00 and gave the company a “neutral” rating in a report on Friday, January 31st. BMO Capital Markets increased their price objective on Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a research report on Thursday, December 19th. TD Cowen upgraded Blackstone from a “hold” rating to a “buy” rating and lifted their target price for the company from $149.00 to $230.00 in a research report on Monday, December 9th. JPMorgan Chase & Co. raised their price objective on Blackstone from $149.00 to $154.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Finally, UBS Group increased their target price on shares of Blackstone from $170.00 to $180.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Thirteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Blackstone currently has an average rating of “Hold” and an average price target of $172.38.

Blackstone Price Performance

Shares of NYSE BX opened at $164.80 on Wednesday. The stock’s 50-day moving average is $177.99 and its two-hundred day moving average is $164.00. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71. The company has a market cap of $118.98 billion, a price-to-earnings ratio of 45.40, 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.

Blackstone (NYSE:BX) last issued its quarterly 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 net margin of 20.99% and a return on equity of 19.58%. Analysts forecast that Blackstone Inc. will post 5.88 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 given a dividend of $1.44 per share. This is a boost from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 annualized dividend and a dividend yield of 3.50%. The ex-dividend date is Monday, February 10th. Blackstone’s dividend payout ratio is currently 94.77%.

Blackstone 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.