WealthPLAN Partners LLC lessened its position in shares of Blackstone Inc. (NYSE:BX - Free Report) by 13.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,654 shares of the asset manager's stock after selling 2,749 shares during the quarter. WealthPLAN Partners LLC's holdings in Blackstone were worth $3,044,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of BX. Bangor Savings Bank increased its holdings in shares of Blackstone by 187.5% during the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager's stock valued at $28,000 after acquiring an additional 105 shares in the last quarter. Hager Investment Management Services LLC acquired a new position in Blackstone during the 4th quarter valued at approximately $28,000. Berbice Capital Management LLC purchased a new position in shares of Blackstone in the fourth quarter worth $34,000. Comprehensive Financial Planning Inc. PA purchased a new stake in shares of Blackstone during the fourth quarter valued at $34,000. Finally, Raleigh Capital Management Inc. raised its stake in Blackstone by 32.1% in the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager's stock worth $39,000 after acquiring an additional 62 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research analysts have recently issued reports on BX shares. Deutsche Bank Aktiengesellschaft raised their price objective on Blackstone from $172.00 to $182.00 and gave the stock a "buy" rating in a research note on Monday, November 11th. Barclays decreased their price objective on shares of Blackstone from $192.00 to $186.00 and set an "equal weight" rating for the company in a research note on Friday, January 31st. JPMorgan Chase & Co. upped their price target on shares of Blackstone from $149.00 to $154.00 and gave the company a "neutral" rating in a report on Friday, January 31st. Citigroup boosted their price objective on Blackstone from $170.00 to $190.00 and gave the company a "neutral" rating in a report on Friday, January 31st. Finally, BMO Capital Markets lifted their price target on Blackstone from $134.00 to $157.00 and gave the company a "market perform" rating in a research report on Thursday, December 19th. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Blackstone presently has a consensus rating of "Hold" and a consensus target price of $172.38.
Get Our Latest Stock Analysis on BX
Blackstone Price Performance
Shares of BX traded up $0.07 during mid-day trading on Wednesday, hitting $166.81. 3,162,580 shares of the company were exchanged, compared to its average volume of 3,299,386. Blackstone Inc. has a 1-year low of $115.82 and a 1-year high of $200.96. The company has a 50 day moving average of $175.23 and a 200-day moving average of $165.03. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67. The stock has a market cap of $120.44 billion, a price-to-earnings ratio of 45.95, a price-to-earnings-growth ratio of 1.07 and a beta of 1.53.
Blackstone (NYSE:BX - Get Free Report) last issued its quarterly 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%. Analysts expect that Blackstone Inc. will post 5.87 EPS for the current fiscal year.
Blackstone Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 10th were paid a dividend of $1.44 per share. This represents a $5.76 annualized dividend and a yield of 3.45%. The ex-dividend date was Monday, February 10th. This is a boost from Blackstone's previous quarterly dividend of $0.86. Blackstone's dividend payout ratio is currently 158.68%.
About Blackstone
(
Free Report)
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.
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