Commonwealth of Pennsylvania Public School Empls Retrmt SYS Reduces Stake in Blackstone Inc. (NYSE:BX)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS trimmed its holdings in shares of Blackstone Inc. (NYSE:BX - Free Report) by 2.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 153,519 shares of the asset manager's stock after selling 3,235 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS's holdings in Blackstone were worth $26,470,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the stock. Glen Eagle Advisors LLC lifted its position in 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 purchasing an additional 59 shares during the last quarter. Avidian Wealth Enterprises LLC lifted its holdings in shares of Blackstone by 0.4% during the 4th quarter. Avidian Wealth Enterprises LLC now owns 16,184 shares of the asset manager's stock worth $2,790,000 after acquiring an additional 59 shares during the last quarter. Investmark Advisory Group LLC increased its stake in Blackstone by 2.4% in the third 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 last quarter. McIlrath & Eck LLC lifted its stake in Blackstone by 6.5% during the third quarter. McIlrath & Eck LLC now owns 1,019 shares of the asset manager's stock worth $156,000 after purchasing an additional 62 shares during the last quarter. Finally, McAdam LLC increased 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 during the last quarter. Institutional investors own 70.00% of the company's stock.

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Analysts Set New Price Targets

Several analysts have issued reports on the company. Citigroup reaffirmed a "hold" rating on shares of Blackstone in a research note on Friday, February 7th. Piper Sandler boosted their price target on shares of Blackstone from $168.00 to $179.00 and gave the stock a "neutral" rating in a research note on Monday, December 23rd. JPMorgan Chase & Co. lifted their price objective on Blackstone from $149.00 to $154.00 and gave the stock a "neutral" rating in a report on Friday, January 31st. Keefe, Bruyette & Woods raised their price target on Blackstone from $174.00 to $177.00 and gave the stock a "market perform" rating in a research report on Friday, January 31st. Finally, BMO Capital Markets increased their price objective on Blackstone from $134.00 to $157.00 and gave the company a "market perform" rating in a research note on Thursday, December 19th. Twelve investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $171.13.

Insider Buying and Selling

In other Blackstone news, Director Ruth Porat bought 301 shares of the firm's stock in a transaction on Tuesday, February 18th. The stock was acquired at an average price of $164.85 per share, with a total value of $49,619.85. Following the transaction, the director now 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 filing with the SEC, which is accessible through this link. 1.00% of the stock is owned by company insiders.

Blackstone Stock Down 0.5 %

BX stock traded down $0.79 during midday trading on Tuesday, hitting $151.29. The stock had a trading volume of 3,782,403 shares, compared to its average volume of 3,278,089. Blackstone Inc. has a 52-week low of $115.82 and a 52-week high of $200.96. The firm has a market cap of $110.35 billion, a price-to-earnings ratio of 41.68, a price-to-earnings-growth ratio of 1.07 and a beta of 1.55. 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 business has a 50-day moving average of $163.26 and a two-hundred day moving average of $167.59.

Blackstone (NYSE:BX - Get Free Report) last announced its earnings results 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 net margin of 20.99% and a return on equity of 19.58%. As a group, equities 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 declared a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th were issued a dividend of $1.44 per share. This is a boost from Blackstone's previous quarterly dividend of $0.86. 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%. Blackstone's dividend payout ratio is presently 158.68%.

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.