Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Cuts Stock Holdings in Blackstone Inc. (NYSE:BX)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA trimmed its stake in shares of Blackstone Inc. (NYSE:BX) by 16.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,190 shares of the asset manager’s stock after selling 235 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Blackstone were worth $217,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. International Assets Investment Management LLC raised its position in Blackstone by 15,357.3% during 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 during the last quarter. Jennison Associates LLC lifted its stake in Blackstone by 111.1% in the fourth quarter. Jennison Associates LLC now owns 973,348 shares of the asset manager’s stock worth $167,825,000 after acquiring an additional 512,165 shares during the period. Castleark Management LLC bought a new position in Blackstone in the 3rd quarter worth $67,472,000. State Street Corp increased its position 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 buying an additional 348,751 shares during the period. Finally, Geode Capital Management LLC boosted its position in Blackstone by 2.3% during 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 acquiring an additional 336,308 shares in the last quarter. Institutional investors own 70.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on BX. UBS Group raised their target price on Blackstone from $170.00 to $180.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Cowen reaffirmed a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. The Goldman Sachs Group boosted their price objective on shares of Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Keefe, Bruyette & Woods lifted their target price on shares of Blackstone from $174.00 to $177.00 and gave the company a “market perform” rating in a report on Friday, January 31st. Finally, TD Cowen raised Blackstone from a “hold” rating to a “buy” rating and raised their price objective for the company from $149.00 to $230.00 in a research report on Monday, December 9th. Thirteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $172.38.

Blackstone Trading Down 2.5 %

Shares of BX stock opened at $170.11 on Monday. The firm’s 50 day moving average is $178.36 and its 200 day moving average is $163.62. The stock has a market capitalization of $122.82 billion, a P/E ratio of 46.86, a P/E/G ratio of 1.13 and a beta of 1.53. 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 Inc. has a 12-month low of $115.82 and a 12-month high of $200.96.

Blackstone (NYSE:BX) last posted its earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share for the quarter, beating 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%. Research analysts expect that Blackstone Inc. will post 5.88 earnings per share for the current year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th will be paid a dividend of $1.44 per share. This represents a $5.76 annualized dividend and a dividend yield of 3.39%. The ex-dividend date of this dividend is Monday, February 10th. This is a boost from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s dividend payout ratio (DPR) 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.