Northcape Wealth Management LLC Has $2.61 Million Stock Holdings in Blackstone Inc. (NYSE:BX)

Northcape Wealth Management LLC lowered its stake in Blackstone Inc. (NYSE:BX) by 7.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,153 shares of the asset manager’s stock after selling 1,221 shares during the period. Northcape Wealth Management LLC’s holdings in Blackstone were worth $2,613,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bangor Savings Bank lifted its holdings in shares of Blackstone by 187.5% during the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock worth $28,000 after acquiring an additional 105 shares during the period. Hager Investment Management Services LLC bought a new stake in Blackstone during the fourth quarter worth $28,000. Berbice Capital Management LLC acquired a new stake in shares of Blackstone in the 4th quarter valued at $34,000. Comprehensive Financial Planning Inc. PA acquired a new position in shares of Blackstone during the 4th quarter worth $34,000. Finally, Roxbury Financial LLC acquired a new stake in Blackstone in the fourth quarter valued at about $34,000. Institutional investors own 70.00% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. UBS Group raised their price target 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. JPMorgan Chase & Co. boosted their target price on shares of Blackstone from $149.00 to $154.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Barclays dropped their price target on Blackstone from $192.00 to $186.00 and set an “equal weight” rating for the company in a research note on Friday, January 31st. BMO Capital Markets upped their target price on Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a report on Thursday, December 19th. Finally, Wells Fargo & Company reduced their price target on Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. Thirteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $172.38.

Blackstone Stock Performance

Shares of BX opened at $166.59 on Wednesday. The firm’s fifty day simple moving average is $175.23 and its two-hundred day simple moving average is $165.03. Blackstone Inc. has a 12 month low of $115.82 and a 12 month high of $200.96. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $120.28 billion, a P/E ratio of 45.89, a price-to-earnings-growth ratio of 1.13 and a beta of 1.53.

Blackstone (NYSE:BX) last issued its earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.19. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. As a group, analysts predict that Blackstone Inc. will post 5.88 EPS for the current year.

Blackstone Increases Dividend

The business 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. The ex-dividend date was Monday, February 10th. This represents a $5.76 annualized dividend and a dividend yield of 3.46%. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. 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.