Horizon Kinetics Asset Management LLC Lowers Stock Position in Blackstone Inc. (NYSE:BX)

Horizon Kinetics Asset Management LLC reduced its holdings in Blackstone Inc. (NYSE:BX - Free Report) by 8.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 30,200 shares of the asset manager's stock after selling 2,900 shares during the period. Horizon Kinetics Asset Management LLC's holdings in Blackstone were worth $5,207,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Signaturefd LLC increased its stake in Blackstone by 1.6% in the 4th quarter. Signaturefd LLC now owns 15,283 shares of the asset manager's stock valued at $2,635,000 after buying an additional 247 shares during the last quarter. Parallel Advisors LLC grew its position in shares of Blackstone by 0.6% in the 4th quarter. Parallel Advisors LLC now owns 29,269 shares of the asset manager's stock valued at $5,047,000 after acquiring an additional 165 shares during the period. SouthState Corp grew its position in shares of Blackstone by 1,290.3% in the 4th quarter. SouthState Corp now owns 41,376 shares of the asset manager's stock valued at $7,134,000 after acquiring an additional 38,400 shares during the period. SlateStone Wealth LLC grew its position in shares of Blackstone by 6.1% in the 4th quarter. SlateStone Wealth LLC now owns 4,338 shares of the asset manager's stock valued at $748,000 after acquiring an additional 250 shares during the period. Finally, GWN Securities Inc. bought a new position in shares of Blackstone in the 4th quarter valued at about $565,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

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Blackstone Price Performance

BX stock traded up $4.55 during trading on Wednesday, reaching $150.74. 2,159,432 shares of the company were exchanged, compared to its average volume of 3,254,974. The company has a 50-day moving average of $164.85 and a two-hundred day moving average of $167.29. The company has a market capitalization of $109.95 billion, a price-to-earnings ratio of 41.42, a P/E/G ratio of 1.07 and a beta of 1.55. Blackstone Inc. has a twelve month low of $115.82 and a twelve month 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.

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

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th were paid a $1.44 dividend. This is a positive change from Blackstone's previous quarterly dividend of $0.86. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date of this dividend was Monday, February 10th. Blackstone's dividend payout ratio is currently 158.68%.

Insider Activity

In other Blackstone news, Director Ruth Porat acquired 301 shares of the stock in a transaction on Tuesday, February 18th. The shares were purchased at an average price of $164.85 per share, for a total transaction of $49,619.85. Following the completion of the acquisition, the director now owns 36,829 shares in the company, valued at approximately $6,071,260.65. This represents a 0.82 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.00% of the company's stock.

Wall Street Analyst Weigh In

BX has been the subject of a number of analyst reports. Keefe, Bruyette & Woods lifted their price objective on shares of Blackstone from $174.00 to $177.00 and gave the company a "market perform" rating in a research report on Friday, January 31st. Citigroup reaffirmed a "hold" rating on shares of Blackstone in a report on Friday, February 7th. Barclays reaffirmed an "equal weight" rating on shares of Blackstone in a report on Friday, February 7th. BMO Capital Markets lifted their target price on shares of Blackstone from $134.00 to $157.00 and gave the stock a "market perform" rating in a report on Thursday, December 19th. Finally, Piper Sandler boosted their price objective on shares of Blackstone from $168.00 to $179.00 and gave the company a "neutral" rating in a report on Monday, December 23rd. Twelve research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $172.38.

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.