Code Waechter LLC Has $373,000 Position in Blackstone Inc. (NYSE:BX)

Code Waechter LLC reduced its position in Blackstone Inc. (NYSE:BX) by 7.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 2,163 shares of the asset manager’s stock after selling 175 shares during the period. Code Waechter LLC’s holdings in Blackstone were worth $373,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Quest Partners LLC raised its holdings in Blackstone by 12,090.0% in the 2nd quarter. Quest Partners LLC now owns 1,219 shares of the asset manager’s stock valued at $151,000 after acquiring an additional 1,209 shares during the period. American Century Companies Inc. lifted its holdings in Blackstone by 3.5% during the 2nd quarter. American Century Companies Inc. now owns 58,777 shares of the asset manager’s stock worth $7,277,000 after purchasing an additional 2,002 shares during the last quarter. BOKF NA increased its position in Blackstone by 12.0% during the 2nd quarter. BOKF NA now owns 8,764 shares of the asset manager’s stock worth $1,085,000 after buying an additional 940 shares during the period. Oppenheimer Asset Management Inc. boosted its position in shares of Blackstone by 12.7% in the second quarter. Oppenheimer Asset Management Inc. now owns 60,445 shares of the asset manager’s stock valued at $7,483,000 after acquiring an additional 6,788 shares during the period. Finally, Greenwich Wealth Management LLC increased its position in Blackstone by 1.0% during the second quarter. Greenwich Wealth Management LLC now owns 41,125 shares of the asset manager’s stock worth $5,091,000 after acquiring an additional 399 shares during the period. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Buying and Selling

In other Blackstone news, insider John G. Finley sold 42,249 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $175.94, for a total value of $7,433,289.06. Following the completion of the sale, the insider now directly owns 387,137 shares in the company, 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 document filed with the SEC, which can be accessed through this hyperlink. 1.00% of the stock is currently owned by insiders.

Blackstone Stock Performance

NYSE BX opened at $165.70 on Tuesday. The stock has a fifty day simple moving average of $180.71 and a 200 day simple moving average of $157.27. Blackstone Inc. has a twelve month low of $114.88 and a twelve month high of $200.96. The company has a market capitalization of $119.64 billion, a price-to-earnings ratio of 56.94, a PEG ratio of 1.63 and a beta of 1.53. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58.

Blackstone (NYSE:BX) last released its earnings results on Thursday, October 17th. The asset manager reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.10. The business had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.37 billion. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. Sell-side analysts expect that Blackstone Inc. will post 4.43 EPS for the current year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Monday, October 28th were paid a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.08%. This is an increase from Blackstone’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend was Monday, October 28th. Blackstone’s payout ratio is currently 118.21%.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. TD Cowen raised shares of Blackstone from a “hold” rating to a “buy” rating and raised their target price for the stock from $149.00 to $230.00 in a report on Monday, December 9th. Cowen reiterated a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. JPMorgan Chase & Co. upped their price objective on shares of Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. 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 report on Thursday, December 19th. Finally, UBS Group upped their target price on Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Twelve analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Blackstone presently has an average rating of “Hold” and a consensus price target of $170.50.

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.