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

E&G Advisors LP decreased its position in shares of Blackstone Inc. (NYSE:BX) by 1.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. 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 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Activity

In related news, insider John G. Finley sold 42,249 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the completion of the transaction, the insider now directly owns 387,137 shares of the company’s stock, valued at $68,112,883.78. The trade was a 9.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. The Goldman Sachs Group upped their target price on Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Morgan Stanley raised their target price on shares of Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. StockNews.com downgraded Blackstone from a “buy” rating to a “hold” rating in a research report on Friday. TD Cowen upgraded Blackstone from a “hold” rating to a “buy” rating and upped their price target for the company from $149.00 to $230.00 in a research report on Monday, December 9th. Finally, Barclays dropped their price objective on Blackstone from $192.00 to $186.00 and set an “equal weight” rating on the stock in a research note on Friday. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $172.38.

Blackstone Trading Down 2.0 %

Shares of NYSE BX opened at $173.55 on Tuesday. 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 business’s 50 day moving average is $180.15 and its two-hundred day moving average is $162.63. Blackstone Inc. has a 1-year low of $115.82 and a 1-year high of $200.96. The stock has a market capitalization of $125.30 billion, a P/E ratio of 47.81, a PEG ratio of 1.18 and a beta of 1.53.

Blackstone (NYSE:BX) last released its quarterly earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, topping 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, research analysts expect that Blackstone Inc. will post 5.86 EPS for the current year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th will be given a $1.44 dividend. The ex-dividend date is Monday, February 10th. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.32%. Blackstone’s dividend payout ratio is 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.