Blackstone Inc. (NYSE:BX) Shares Sold by Summit Place Financial Advisors LLC

Summit Place Financial Advisors LLC reduced its stake in shares of Blackstone Inc. (NYSE:BX - Free Report) by 8.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,636 shares of the asset manager's stock after selling 2,030 shares during the period. Blackstone makes up approximately 2.2% of Summit Place Financial Advisors LLC's investment portfolio, making the stock its 9th biggest holding. Summit Place Financial Advisors LLC's holdings in Blackstone were worth $3,903,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in BX. International Assets Investment Management LLC raised its position in Blackstone by 15,357.3% during the third quarter. International Assets Investment Management LLC now owns 4,201,150 shares of the asset manager's stock valued at $6,433,220,000 after acquiring an additional 4,173,971 shares in the last quarter. Jennison Associates LLC boosted its holdings in Blackstone by 111.1% during the fourth quarter. Jennison Associates LLC now owns 973,348 shares of the asset manager's stock worth $167,825,000 after buying an additional 512,165 shares in the last quarter. Castleark Management LLC purchased a new position in Blackstone in the third quarter valued at $67,472,000. State Street Corp raised its position in shares of Blackstone by 1.2% in the third quarter. State Street Corp now owns 30,020,426 shares of the asset manager's stock worth $4,597,028,000 after acquiring an additional 348,751 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Blackstone by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 14,896,413 shares of the asset manager's stock valued at $2,272,227,000 after purchasing an additional 336,308 shares in the last quarter. 70.00% of the stock is owned by institutional investors and hedge funds.

Blackstone Stock Down 3.5 %

NYSE BX traded down $5.69 during trading on Friday, reaching $158.21. 4,407,663 shares of the company's stock were exchanged, compared to its average volume of 3,275,250. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67. Blackstone Inc. has a 1 year low of $115.82 and a 1 year high of $200.96. The stock has a market cap of $114.23 billion, a P/E ratio of 43.58, a price-to-earnings-growth ratio of 1.09 and a beta of 1.53. The company has a 50 day moving average price of $174.18 and a two-hundred day moving average price of $165.03.

Blackstone (NYSE:BX - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 earnings per share for the quarter, topping 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%. On average, equities research analysts anticipate that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Investors 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 dividend yield of 3.64%. Blackstone's dividend payout ratio (DPR) is 158.68%.

Insiders Place Their Bets

In other news, Director Ruth Porat purchased 301 shares of the company's stock in a transaction dated Tuesday, February 18th. The stock was acquired 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 directly owns 36,829 shares in the company, valued at $6,071,260.65. This represents a 0.82 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 1.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Barclays reduced their target price on Blackstone from $192.00 to $186.00 and set an "equal weight" rating for the company in a research note on Friday, January 31st. Deutsche Bank Aktiengesellschaft raised their price target on shares of Blackstone from $172.00 to $182.00 and gave the company a "buy" rating in a research note on Monday, November 11th. TD Cowen upgraded Blackstone from a "hold" rating to a "buy" rating and raised their price objective for the company from $149.00 to $230.00 in a report on Monday, December 9th. Piper Sandler boosted their target price on Blackstone from $168.00 to $179.00 and gave the stock a "neutral" rating in a report on Monday, December 23rd. Finally, Citigroup lifted their price objective on Blackstone from $170.00 to $190.00 and gave the stock a "neutral" rating in a research report on Friday, January 31st. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus 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.