Blackstone Inc. (NYSE:BX) Position Trimmed by Thoroughbred Financial Services LLC

Thoroughbred Financial Services LLC trimmed its position in shares of Blackstone Inc. (NYSE:BX) by 1.5% in the 4th quarter, Holdings Channel.com reports. The fund owned 14,210 shares of the asset manager’s stock after selling 210 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in Blackstone were worth $2,450,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bangor Savings Bank boosted its holdings in Blackstone by 187.5% in the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock worth $28,000 after purchasing an additional 105 shares in the last quarter. Hager Investment Management Services LLC acquired a new stake in shares of Blackstone during the 4th quarter worth approximately $28,000. Centricity Wealth Management LLC bought a new position in shares of Blackstone during the 4th quarter worth about $30,000. Roxbury Financial LLC bought a new position in shares of Blackstone during the 4th quarter worth approximately $34,000. Finally, Murphy & Mullick Capital Management Corp acquired a new stake in shares of Blackstone in the 4th quarter valued at $33,000. 70.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on BX. Bank of America cut their price target on Blackstone from $219.00 to $207.00 and set a “buy” rating for the company in a report on Friday. Citigroup reaffirmed a “hold” rating on shares of Blackstone in a report on Friday, February 7th. Keefe, Bruyette & Woods boosted their target price on Blackstone from $174.00 to $177.00 and gave the stock a “market perform” rating in a research report on Friday, January 31st. Barclays reiterated an “equal weight” rating on shares of Blackstone in a research report on Friday, February 7th. Finally, StockNews.com lowered shares of Blackstone from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Twelve equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Blackstone currently has an average rating of “Hold” and a consensus price target of $172.06.

Blackstone Price Performance

Shares of NYSE BX opened at $124.68 on Friday. The company has a fifty day moving average price of $156.29 and a 200 day moving average price of $167.03. Blackstone Inc. has a 1-year low of $115.82 and a 1-year high of $200.96. The firm has a market cap of $90.94 billion, a PE ratio of 34.35, a PEG ratio of 1.07 and a beta of 1.61. The company has a current ratio of 0.67, a quick ratio of 0.71 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 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.19. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. Research analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were paid a $1.44 dividend. This represents a $5.76 dividend on an annualized basis and a yield of 4.62%. This is an increase from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date was Monday, February 10th. Blackstone’s dividend payout ratio (DPR) is currently 158.68%.

Insiders Place Their Bets

In other news, Director Ruth Porat acquired 301 shares of the stock in a transaction dated Tuesday, February 18th. The shares were bought at an average cost of $164.85 per share, for a total transaction of $49,619.85. Following the purchase, the director now directly owns 36,829 shares of the company’s stock, valued at approximately $6,071,260.65. This trade represents a 0.82 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.00% of the company’s stock.

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.