Chevy Chase Trust Holdings LLC Sells 7,534 Shares of Blackstone Inc. (NYSE:BX)

Chevy Chase Trust Holdings LLC decreased its stake in shares of Blackstone Inc. (NYSE:BX - Free Report) by 1.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 380,927 shares of the asset manager's stock after selling 7,534 shares during the period. Chevy Chase Trust Holdings LLC owned 0.05% of Blackstone worth $65,679,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of BX. Exchange Traded Concepts LLC boosted its position in shares of Blackstone by 2,188.2% in the third quarter. Exchange Traded Concepts LLC now owns 1,167 shares of the asset manager's stock valued at $179,000 after acquiring an additional 1,116 shares during the period. CX Institutional raised its stake in Blackstone by 4.8% in the 3rd quarter. CX Institutional now owns 2,663 shares of the asset manager's stock worth $408,000 after purchasing an additional 122 shares in the last quarter. Creative Planning grew its position in shares of Blackstone by 4.2% during the 3rd quarter. Creative Planning now owns 237,936 shares of the asset manager's stock worth $36,435,000 after purchasing an additional 9,668 shares in the last quarter. Asset Dedication LLC raised its position in shares of Blackstone by 18.9% in the third quarter. Asset Dedication LLC now owns 898 shares of the asset manager's stock valued at $138,000 after buying an additional 143 shares in the last quarter. Finally, Vontobel Holding Ltd. boosted its stake in shares of Blackstone by 125.0% in the third quarter. Vontobel Holding Ltd. now owns 27,688 shares of the asset manager's stock valued at $4,240,000 after buying an additional 15,384 shares during the period. Institutional investors and hedge funds own 70.00% of the company's stock.

Blackstone Trading Up 1.1 %

NYSE:BX traded up $1.75 during mid-day trading on Tuesday, hitting $166.59. 3,788,046 shares of the company's stock were exchanged, compared to its average volume of 3,303,787. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. Blackstone Inc. has a fifty-two week low of $115.82 and a fifty-two week high of $200.96. The company has a 50 day simple moving average of $175.69 and a 200-day simple moving average of $164.79. The firm has a market capitalization of $120.28 billion, a P/E ratio of 45.89, a PEG ratio of 1.13 and a beta of 1.53.

Blackstone (NYSE:BX - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 earnings per share for the quarter, beating analysts' consensus estimates 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, research analysts expect that Blackstone Inc. will post 5.88 earnings per share for the current year.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th will be given a dividend of $1.44 per share. This represents a $5.76 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date of this dividend is Monday, February 10th. This is an increase from Blackstone's previous quarterly dividend of $0.86. Blackstone's dividend payout ratio is currently 94.77%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on BX shares. Barclays dropped their price objective on Blackstone from $192.00 to $186.00 and set an "equal weight" rating for the company in a report on Friday, January 31st. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Blackstone from $172.00 to $182.00 and gave the stock a "buy" rating in a research report on Monday, November 11th. UBS Group boosted their target price on shares of Blackstone from $170.00 to $180.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. Piper Sandler lifted their price objective on shares of Blackstone from $168.00 to $179.00 and gave the company a "neutral" rating in a research note on Monday, December 23rd. Finally, Wells Fargo & Company cut their target price on Blackstone from $195.00 to $180.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 14th. Thirteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Blackstone currently has a consensus rating of "Hold" and an average price target 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.