Knights of Columbus Asset Advisors LLC Sells 1,829 Shares of Blackstone Inc. (NYSE:BX)

Knights of Columbus Asset Advisors LLC decreased its holdings in Blackstone Inc. (NYSE:BX - Free Report) by 5.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 33,632 shares of the asset manager's stock after selling 1,829 shares during the quarter. Knights of Columbus Asset Advisors LLC's holdings in Blackstone were worth $5,799,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Glen Eagle Advisors LLC grew its position in Blackstone by 1.8% in the 3rd quarter. Glen Eagle Advisors LLC now owns 3,251 shares of the asset manager's stock valued at $498,000 after buying an additional 59 shares in the last quarter. Avidian Wealth Enterprises LLC boosted its holdings in shares of Blackstone by 0.4% in the fourth 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 raised its holdings in Blackstone by 2.4% during the third quarter. Investmark Advisory Group LLC now owns 2,608 shares of the asset manager's stock worth $399,000 after purchasing an additional 60 shares in the last quarter. McIlrath & Eck LLC lifted its holdings in shares of Blackstone by 6.5% in the third quarter. McIlrath & Eck LLC now owns 1,019 shares of the asset manager's stock valued at $156,000 after buying an additional 62 shares during the period. Finally, McAdam LLC boosted its position in shares of Blackstone by 3.9% during the 4th quarter. McAdam LLC now owns 1,687 shares of the asset manager's stock valued at $291,000 after purchasing an additional 63 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company's stock.

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Insider Activity

In other news, Director Ruth Porat bought 301 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were acquired at an average cost of $164.85 per share, with a total value of $49,619.85. Following the completion of the transaction, the director now directly owns 36,829 shares in the company, valued at $6,071,260.65. This represents a 0.82 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.00% of the stock is owned by company insiders.

Analyst Ratings Changes

BX has been the topic of a number of recent research reports. Citigroup restated a "hold" rating on shares of Blackstone in a report on Friday, February 7th. StockNews.com lowered shares of Blackstone from a "buy" rating to a "hold" rating in a research note on Friday, January 31st. Piper Sandler lifted their target price on shares of Blackstone from $168.00 to $179.00 and gave the stock a "neutral" rating in a research report on Monday, December 23rd. UBS Group upgraded shares of Blackstone from a "neutral" rating to a "buy" rating and set a $180.00 price objective on the stock in a research report on Monday, March 17th. Finally, JPMorgan Chase & Co. raised their price target on shares of Blackstone from $149.00 to $154.00 and gave the stock a "neutral" rating in a report on Friday, January 31st. Twelve investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Blackstone currently has an average rating of "Hold" and an average price target of $171.13.

Blackstone Stock Performance

BX traded down $1.53 on Tuesday, hitting $150.55. The company had a trading volume of 1,227,447 shares, compared to its average volume of 3,278,089. Blackstone Inc. has a 1-year low of $115.82 and a 1-year high of $200.96. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71. The company's fifty day moving average price is $163.26 and its 200 day moving average price is $167.59. The stock has a market cap of $109.81 billion, a price-to-earnings ratio of 41.54, a price-to-earnings-growth ratio of 1.07 and a beta of 1.55.

Blackstone (NYSE:BX - Get Free Report) last announced 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 net margin of 20.99% and a return on equity of 19.58%. Equities analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were given a $1.44 dividend. This is an increase from Blackstone's previous quarterly dividend of $0.86. This represents a $5.76 annualized dividend and a yield of 3.83%. The ex-dividend date was Monday, February 10th. Blackstone's payout ratio 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.