Blackstone Inc. (NYSE:BX) is Adell Harriman & Carpenter Inc.'s 6th Largest Position

Adell Harriman & Carpenter Inc. trimmed its stake in Blackstone Inc. (NYSE:BX - Free Report) by 1.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 257,803 shares of the asset manager's stock after selling 3,979 shares during the period. Blackstone accounts for about 3.1% of Adell Harriman & Carpenter Inc.'s investment portfolio, making the stock its 6th largest position. Adell Harriman & Carpenter Inc.'s holdings in Blackstone were worth $44,450,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Glen Eagle Advisors LLC raised its stake in shares of Blackstone by 1.8% during the third quarter. Glen Eagle Advisors LLC now owns 3,251 shares of the asset manager's stock valued at $498,000 after acquiring an additional 59 shares during the last quarter. Avidian Wealth Enterprises LLC boosted its position in Blackstone by 0.4% during the 4th quarter. Avidian Wealth Enterprises LLC now owns 16,184 shares of the asset manager's stock valued at $2,790,000 after acquiring an additional 59 shares in the last quarter. Investmark Advisory Group LLC lifted its position in Blackstone by 2.4% during the 3rd quarter. Investmark Advisory Group LLC now owns 2,608 shares of the asset manager's stock valued at $399,000 after acquiring an additional 60 shares during the period. Raleigh Capital Management Inc. boosted its holdings in Blackstone by 32.1% in the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager's stock worth $39,000 after acquiring an additional 62 shares in the last quarter. Finally, Capital Advisors Ltd. LLC grew its holdings in shares of Blackstone by 2.3% during the third quarter. Capital Advisors Ltd. LLC now owns 2,787 shares of the asset manager's stock valued at $427,000 after buying an additional 62 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Stock Performance

Shares of NYSE BX traded up $0.07 during midday trading on Wednesday, reaching $166.81. 3,162,580 shares of the company were exchanged, compared to its average volume of 3,299,386. The stock has a fifty day simple moving average of $175.23 and a 200 day simple moving average of $165.03. Blackstone Inc. has a 1 year low of $115.82 and a 1 year 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 cap of $120.44 billion, a P/E ratio of 45.95, a PEG ratio of 1.07 and a beta of 1.53.

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

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 10th were given a $1.44 dividend. This is a positive change from Blackstone's previous quarterly dividend of $0.86. This represents a $5.76 annualized dividend and a dividend yield of 3.45%. The ex-dividend date of this dividend was Monday, February 10th. Blackstone's dividend payout ratio (DPR) is 158.68%.

Analysts Set New Price Targets

Several analysts recently commented on BX shares. UBS Group lifted their price objective on Blackstone from $170.00 to $180.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. Wells Fargo & Company dropped their target price on shares of Blackstone from $195.00 to $180.00 and set an "equal weight" rating for the company in a research report on Tuesday, January 14th. JPMorgan Chase & Co. raised their target price on shares of Blackstone from $149.00 to $154.00 and gave the company a "neutral" rating in a report on Friday, January 31st. StockNews.com cut Blackstone from a "buy" rating to a "hold" rating in a report on Friday, January 31st. Finally, TD Cowen upgraded Blackstone from a "hold" rating to a "buy" rating and increased their price target for the stock from $149.00 to $230.00 in a report on Monday, December 9th. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $172.38.

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.