TBH Global Asset Management LLC Has $1.62 Million Position in Blackstone Inc. (NYSE:BX)

TBH Global Asset Management LLC lowered its stake in shares of Blackstone Inc. (NYSE:BX) by 13.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,414 shares of the asset manager’s stock after selling 1,526 shares during the quarter. TBH Global Asset Management LLC’s holdings in Blackstone were worth $1,623,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC raised its holdings in Blackstone by 50.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 144,781 shares of the asset manager’s stock worth $22,170,000 after purchasing an additional 48,601 shares during the last quarter. Raleigh Capital Management Inc. lifted its holdings in Blackstone by 32.1% in the third 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 period. Foundations Investment Advisors LLC grew its holdings in Blackstone by 13.2% during the 3rd quarter. Foundations Investment Advisors LLC now owns 42,220 shares of the asset manager’s stock worth $6,465,000 after acquiring an additional 4,936 shares during the period. Oakworth Capital Inc. lifted its stake in shares of Blackstone by 5.3% in the 3rd quarter. Oakworth Capital Inc. now owns 1,864 shares of the asset manager’s stock valued at $285,000 after purchasing an additional 94 shares during the period. Finally, Signaturefd LLC grew its stake in shares of Blackstone by 10.4% during the third quarter. Signaturefd LLC now owns 15,036 shares of the asset manager’s stock worth $2,303,000 after purchasing an additional 1,421 shares during the period. Institutional investors and hedge funds own 70.00% of the company’s stock.

Analyst Ratings Changes

BX has been the topic of a number of recent analyst reports. StockNews.com cut Blackstone from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Wells Fargo & Company decreased their price objective on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. BMO Capital Markets lifted their price target on shares of Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a research report on Thursday, December 19th. Piper Sandler upped their price objective on shares of Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a research report on Monday, December 23rd. Finally, JPMorgan Chase & Co. boosted their target price on Blackstone from $149.00 to $154.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Thirteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $172.38.

Blackstone Stock Performance

Shares of BX stock opened at $166.81 on Thursday. The firm has a market cap of $120.44 billion, a PE ratio of 45.95, a P/E/G ratio of 1.07 and a beta of 1.53. Blackstone Inc. has a 12 month low of $115.82 and a 12 month high of $200.96. The company’s fifty day simple moving average is $174.71 and its 200-day simple moving average is $165.04. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 earnings per share for the quarter, beating 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%. Equities research analysts expect that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 10th were paid a $1.44 dividend. The ex-dividend date was Monday, February 10th. 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 3.45%. Blackstone’s dividend payout ratio (DPR) is currently 158.68%.

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.