Blueshift Asset Management LLC Trims Stake in Blackstone Inc. (NYSE:BX)

Blueshift Asset Management LLC lessened its holdings in shares of Blackstone Inc. (NYSE:BX - Free Report) by 67.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,598 shares of the asset manager's stock after selling 7,427 shares during the period. Blueshift Asset Management LLC's holdings in Blackstone were worth $620,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BX. Bangor Savings Bank boosted its holdings in Blackstone by 187.5% during the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager's stock worth $28,000 after buying an additional 105 shares in the last quarter. Hager Investment Management Services LLC acquired a new stake in shares of Blackstone during the 4th quarter valued at about $28,000. Centricity Wealth Management LLC acquired a new position in Blackstone in the 4th quarter worth about $30,000. Berbice Capital Management LLC acquired a new stake in Blackstone in the fourth quarter valued at approximately $34,000. Finally, Comprehensive Financial Planning Inc. PA purchased a new stake in shares of Blackstone in the fourth quarter valued at approximately $34,000. 70.00% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Blackstone

In related news, Director Ruth Porat acquired 301 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were bought at an average price of $164.85 per share, with a total value of $49,619.85. Following the completion of the acquisition, the director now owns 36,829 shares in the company, valued at $6,071,260.65. This trade represents a 0.82 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.00% of the stock is currently owned by corporate insiders.

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Blackstone Stock Down 0.5 %

BX stock traded down $0.79 during midday trading on Tuesday, hitting $151.29. The company's stock had a trading volume of 3,782,403 shares, compared to its average volume of 3,278,089. The firm has a market capitalization of $110.35 billion, a P/E ratio of 41.68, a PEG ratio of 1.07 and a beta of 1.55. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. Blackstone Inc. has a 52-week low of $115.82 and a 52-week high of $200.96. The firm has a 50-day simple moving average of $163.26 and a 200-day simple moving average of $167.59.

Blackstone (NYSE:BX - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 earnings per share (EPS) 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%. As a group, equities analysts forecast that Blackstone Inc. will post 5.87 EPS for the current 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 paid a dividend of $1.44 per share. The ex-dividend date was Monday, February 10th. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.81%. This is an increase from Blackstone's previous quarterly dividend of $0.86. Blackstone's payout ratio is presently 158.68%.

Wall Street Analyst Weigh In

BX has been the subject of several recent analyst reports. TD Cowen raised shares of Blackstone from a "hold" rating to a "buy" rating and boosted their price target for the stock from $149.00 to $230.00 in a report on Monday, December 9th. Piper Sandler upped their price target 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. Keefe, Bruyette & Woods boosted their price objective on Blackstone from $174.00 to $177.00 and gave the stock a "market perform" rating in a research note on Friday, January 31st. Wells Fargo & Company lowered their price target on Blackstone from $180.00 to $160.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 20th. Finally, Citigroup reaffirmed a "hold" rating on shares of Blackstone in a research note on Friday, February 7th. Twelve analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $171.13.

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.