JSF Financial LLC Sells 324 Shares of Blackstone Inc. (NYSE:BX)

JSF Financial LLC reduced its position in Blackstone Inc. (NYSE:BX) by 17.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,560 shares of the asset manager’s stock after selling 324 shares during the quarter. JSF Financial LLC’s holdings in Blackstone were worth $269,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently 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 valued at $28,000 after purchasing an additional 105 shares during the last quarter. Hager Investment Management Services LLC purchased a new stake in Blackstone in the fourth quarter valued at about $28,000. Berbice Capital Management LLC acquired a new position in shares of Blackstone during the fourth quarter valued at about $34,000. Comprehensive Financial Planning Inc. PA purchased a new stake in Blackstone during the 4th quarter worth approximately $34,000. Finally, Raleigh Capital Management Inc. lifted its stake in shares of Blackstone by 32.1% during the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after buying an additional 62 shares during the period. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Stock Down 1.0 %

Shares of NYSE:BX opened at $168.52 on Tuesday. 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 company has a market capitalization of $121.67 billion, a price-to-earnings ratio of 46.42, a PEG ratio of 1.13 and a beta of 1.53. The business has a 50-day moving average price of $178.36 and a 200 day moving average price of $163.80. Blackstone Inc. has a 12-month low of $115.82 and a 12-month high of $200.96.

Blackstone (NYSE:BX) last released its quarterly earnings results 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 return on equity of 19.58% and a net margin of 20.99%. Sell-side analysts expect that Blackstone Inc. will post 5.88 EPS for the current year.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th will be issued a dividend of $1.44 per share. 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 yield of 3.42%. Blackstone’s dividend payout ratio is 94.77%.

Analyst Upgrades and Downgrades

BX has been the subject of a number of research analyst reports. JPMorgan Chase & Co. raised their target price on Blackstone from $149.00 to $154.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Deutsche Bank Aktiengesellschaft increased their price target on shares of Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Barclays reduced their target price on shares of Blackstone from $192.00 to $186.00 and set an “equal weight” rating for the company in a report on Friday, January 31st. Wells Fargo & Company cut their price target on Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. Finally, TD Cowen raised Blackstone from a “hold” rating to a “buy” rating and raised their target price for the stock from $149.00 to $230.00 in a report on Monday, December 9th. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $172.38.

About Blackstone

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.