Blackstone Inc. (NYSE:BX) Holdings Decreased by Accretive Wealth Partners LLC

Accretive Wealth Partners LLC reduced its stake in shares of Blackstone Inc. (NYSE:BX) by 2.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,144 shares of the asset manager’s stock after selling 291 shares during the quarter. Accretive Wealth Partners LLC’s holdings in Blackstone were worth $2,266,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bangor Savings Bank grew its holdings in Blackstone by 187.5% during the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock worth $28,000 after acquiring an additional 105 shares during the period. Hager Investment Management Services LLC acquired a new position in Blackstone during the fourth quarter worth about $28,000. Berbice Capital Management LLC purchased a new position in Blackstone in the 4th quarter worth about $34,000. Comprehensive Financial Planning Inc. PA purchased a new position in Blackstone in the 4th quarter worth about $34,000. Finally, Raleigh Capital Management Inc. increased its stake in Blackstone by 32.1% in the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after purchasing an additional 62 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors.

Blackstone Stock Up 2.9 %

Shares of Blackstone stock opened at $165.09 on Friday. The firm has a market cap of $119.20 billion, a price-to-earnings ratio of 45.48, a P/E/G ratio of 1.13 and a beta of 1.53. 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 stock has a 50-day simple moving average of $176.53 and a 200-day simple moving average of $164.11. Blackstone Inc. has a 52-week low of $115.82 and a 52-week high of $200.96.

Blackstone (NYSE:BX) last announced its earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, topping 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%. On average, equities research analysts expect that Blackstone Inc. will post 5.88 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The business 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. The ex-dividend date of this dividend is Monday, February 10th. This represents a $5.76 dividend on an annualized basis and a yield of 3.49%. This is a boost from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s dividend payout ratio is presently 158.68%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on BX shares. JPMorgan Chase & Co. lifted their price target on Blackstone from $149.00 to $154.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Keefe, Bruyette & Woods lifted their price target on Blackstone from $174.00 to $177.00 and gave the stock a “market perform” rating in a research note on Friday, January 31st. StockNews.com cut Blackstone from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Wells Fargo & Company lowered their target price on Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. Finally, UBS Group lifted their target price on Blackstone from $170.00 to $180.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Thirteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price 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.