Blackstone Inc. (NYSE:BX) Shares Sold by Thomas Story & Son LLC

Thomas Story & Son LLC cut its holdings in shares of Blackstone Inc. (NYSE:BX) by 0.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,291 shares of the asset manager’s stock after selling 125 shares during the period. Blackstone makes up about 1.8% of Thomas Story & Son LLC’s investment portfolio, making the stock its 21st largest holding. Thomas Story & Son LLC’s holdings in Blackstone were worth $4,361,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Glen Eagle Advisors LLC lifted its position in shares of Blackstone by 1.8% during the 3rd 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 lifted its position in shares of Blackstone by 2.4% during the 3rd quarter. Investmark Advisory Group LLC now owns 2,608 shares of the asset manager’s stock valued at $399,000 after acquiring an additional 60 shares during the last quarter. Raleigh Capital Management Inc. lifted 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 acquiring an additional 62 shares during 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 last quarter. Finally, Fidelis Capital Partners LLC raised its stake in Blackstone by 2.7% during the 3rd quarter. Fidelis Capital Partners LLC now owns 2,374 shares of the asset manager’s stock valued at $396,000 after purchasing an additional 62 shares during the period. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on BX shares. UBS Group boosted their target price on shares of Blackstone from $170.00 to $180.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Piper Sandler upped their price target on shares of Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a research note on Monday, December 23rd. JPMorgan Chase & Co. upped their price objective on shares of Blackstone from $149.00 to $154.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Barclays decreased their price objective on shares of Blackstone from $192.00 to $186.00 and set an “equal weight” rating for the company in a report on Friday, January 31st. Finally, Citigroup upped their price objective on shares of Blackstone from $170.00 to $190.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $172.38.

Blackstone Stock Performance

NYSE:BX opened at $170.11 on Monday. Blackstone Inc. has a 12-month low of $115.82 and a 12-month high of $200.96. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $122.82 billion, a PE ratio of 46.86, a price-to-earnings-growth ratio of 1.13 and a beta of 1.53. The firm has a 50-day moving average price of $178.36 and a 200 day moving average price of $163.62.

Blackstone (NYSE:BX) last announced its earnings results 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%. Research analysts anticipate 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. Shareholders of record on Monday, February 10th will be issued a dividend of $1.44 per share. This is an increase from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend is Monday, February 10th. This represents a $5.76 annualized dividend and a yield of 3.39%. Blackstone’s dividend 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.