Fiduciary Group LLC Has $7.65 Million Stock Holdings in Blackstone Inc. (NYSE:BX)

Fiduciary Group LLC reduced its stake in shares of Blackstone Inc. (NYSE:BX - Free Report) by 4.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,392 shares of the asset manager's stock after selling 1,954 shares during the quarter. Fiduciary Group LLC's holdings in Blackstone were worth $7,654,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Glen Eagle Advisors LLC lifted its holdings in Blackstone by 1.8% in the third 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 during the period. Avidian Wealth Enterprises LLC raised its position 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 valued at $2,790,000 after acquiring an additional 59 shares during the last quarter. Investmark Advisory Group LLC boosted its position in shares of Blackstone by 2.4% in the 3rd 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 during the last quarter. McIlrath & Eck LLC increased its holdings in 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 purchasing an additional 62 shares during the last quarter. Finally, McAdam LLC boosted its holdings in Blackstone by 3.9% during the fourth quarter. McAdam LLC now owns 1,687 shares of the asset manager's stock worth $291,000 after buying an additional 63 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors.

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Analyst Ratings Changes

A number of research analysts recently issued reports on BX shares. Barclays restated an "equal weight" rating on shares of Blackstone in a report on Friday, February 7th. Citigroup restated a "hold" rating on shares of Blackstone in a research report on Friday, February 7th. JPMorgan Chase & Co. boosted their target price on Blackstone from $149.00 to $154.00 and gave the company a "neutral" rating in a research note on Friday, January 31st. Piper Sandler lifted their price objective on Blackstone from $168.00 to $179.00 and gave the company a "neutral" rating in a report on Monday, December 23rd. Finally, Wells Fargo & Company dropped their target price on shares of Blackstone from $180.00 to $160.00 and set an "equal weight" rating on the stock in a report on Thursday. Twelve equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Blackstone currently has an average rating of "Hold" and an average price target of $171.13.

Blackstone Stock Performance

Shares of BX traded up $3.84 during trading hours on Monday, hitting $152.13. The company had a trading volume of 3,072,027 shares, compared to its average volume of 3,279,261. The firm has a market cap of $110.97 billion, a price-to-earnings ratio of 41.91, 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. The business has a fifty day moving average of $163.53 and a 200-day moving average of $167.49. Blackstone Inc. has a 12 month low of $115.82 and a 12 month high of $200.96.

Blackstone (NYSE:BX - Get Free Report) last posted its earnings results on Thursday, January 30th. The asset manager reported $1.69 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%. Equities analysts anticipate 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. Shareholders of record on Monday, February 10th were paid a $1.44 dividend. This is a boost from Blackstone's previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.76 annualized dividend and a yield of 3.79%. Blackstone's payout ratio is 158.68%.

Insiders Place Their Bets

In related news, Director Ruth Porat purchased 301 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were bought at an average price of $164.85 per share, for a total transaction of $49,619.85. Following the completion of the transaction, the director now owns 36,829 shares of the company's stock, valued at approximately $6,071,260.65. This trade represents a 0.82 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 1.00% of the company's stock.

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.