Blackstone Inc. (NYSE:BX) Shares Sold by Accuvest Global Advisors

Accuvest Global Advisors trimmed its stake in Blackstone Inc. (NYSE:BX - Free Report) by 8.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,109 shares of the asset manager's stock after selling 2,010 shares during the period. Blackstone makes up about 5.6% of Accuvest Global Advisors' portfolio, making the stock its 7th biggest position. Accuvest Global Advisors' holdings in Blackstone were worth $4,021,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the company. Bangor Savings Bank grew its holdings in 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 in the last quarter. Hager Investment Management Services LLC purchased a new position in shares of Blackstone in the 4th quarter valued at $28,000. Berbice Capital Management LLC purchased a new stake in shares of Blackstone during the 4th quarter worth $34,000. Comprehensive Financial Planning Inc. PA purchased a new position in Blackstone in the fourth quarter valued at about $34,000. Finally, Roxbury Financial LLC bought a new position in Blackstone in the fourth quarter worth about $34,000. 70.00% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Blackstone

In other Blackstone news, Director Ruth Porat acquired 301 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was acquired at an average cost of $164.85 per share, for a total transaction of $49,619.85. Following the completion of the transaction, the director now directly owns 36,829 shares of the company's stock, valued at $6,071,260.65. This represents a 0.82 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

BX has been the topic of a number of analyst reports. StockNews.com downgraded shares of Blackstone from a "buy" rating to a "hold" rating in a research report on Friday, January 31st. TD Cowen raised 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 report on Monday, December 9th. Barclays dropped their target price on Blackstone from $192.00 to $186.00 and set an "equal weight" rating on the stock in a research note on Friday, January 31st. UBS Group increased their price target on Blackstone from $170.00 to $180.00 and gave the company a "neutral" rating in a research note on Monday, February 3rd. Finally, JPMorgan Chase & Co. upped their price objective on shares of Blackstone from $149.00 to $154.00 and gave the company a "neutral" rating in a report on Friday, January 31st. Thirteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $172.38.

Blackstone Stock Performance

NYSE BX traded down $5.69 on Friday, reaching $158.21. 4,662,276 shares of the company's stock traded hands, compared to its average volume of 3,336,160. The stock has a 50 day moving average price of $173.58 and a 200-day moving average price of $165.23. The firm has a market cap of $114.23 billion, a price-to-earnings ratio of 43.58, a P/E/G ratio of 1.09 and a beta of 1.53. Blackstone Inc. has a fifty-two week low of $115.82 and a fifty-two week high of $200.96. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67.

Blackstone (NYSE:BX - Get Free Report) last posted its earnings results on Thursday, January 30th. The asset manager reported $1.69 EPS for the quarter, topping 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%. Equities research analysts predict that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 10th were given a dividend of $1.44 per share. This represents a $5.76 annualized dividend and a yield of 3.64%. The ex-dividend date was Monday, February 10th. This is a positive change from Blackstone's previous quarterly dividend of $0.86. Blackstone's dividend payout ratio (DPR) is currently 158.68%.

Blackstone 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.