Blackstone Inc. (NYSE:BX) Shares Sold by Global Retirement Partners LLC

Global Retirement Partners LLC reduced its position in Blackstone Inc. (NYSE:BX) by 4.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 43,368 shares of the asset manager’s stock after selling 1,933 shares during the period. Global Retirement Partners LLC’s holdings in Blackstone were worth $7,477,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Glen Eagle Advisors LLC lifted its holdings 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 buying an additional 59 shares during the last quarter. Avidian Wealth Enterprises LLC lifted its stake in Blackstone by 0.4% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 16,184 shares of the asset manager’s stock valued at $2,790,000 after acquiring an additional 59 shares during the last quarter. Investmark Advisory Group LLC increased its stake 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 worth $399,000 after purchasing an additional 60 shares during the last quarter. Raleigh Capital Management Inc. lifted its stake in shares of Blackstone by 32.1% in the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock valued at $39,000 after purchasing an additional 62 shares during the last quarter. Finally, Capital Advisors Ltd. LLC boosted its holdings in Blackstone by 2.3% in the third quarter. Capital Advisors Ltd. LLC now owns 2,787 shares of the asset manager’s stock worth $427,000 after purchasing an additional 62 shares in the last quarter. 70.00% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on BX. TD Cowen upgraded Blackstone from a “hold” rating to a “buy” rating and upped their price target for the stock from $149.00 to $230.00 in a research note on Monday, December 9th. Piper Sandler increased their price target on Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a report on Monday, December 23rd. BMO Capital Markets upped their price objective on shares of Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a report on Thursday, December 19th. Citigroup boosted their target price on shares of Blackstone from $170.00 to $190.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Finally, StockNews.com lowered Blackstone from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Blackstone presently has a consensus rating of “Hold” and a consensus price target of $172.38.

Blackstone Trading Up 1.1 %

Shares of BX stock opened at $166.59 on Wednesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67. The firm has a fifty day moving average of $175.23 and a 200-day moving average of $165.03. Blackstone Inc. has a 52-week low of $115.82 and a 52-week high of $200.96. The stock has a market cap of $120.28 billion, a price-to-earnings ratio of 45.89, a P/E/G ratio of 1.13 and a beta of 1.53.

Blackstone (NYSE:BX) last released 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%. On average, equities research analysts forecast 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 was paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th were issued a dividend of $1.44 per share. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.76 annualized dividend and a dividend yield of 3.46%. Blackstone’s dividend payout ratio (DPR) is presently 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.