Soltis Investment Advisors LLC Has $5.68 Million Stock Position in Blackstone Inc. (NYSE:BX)

Soltis Investment Advisors LLC boosted its holdings in shares of Blackstone Inc. (NYSE:BX) by 649.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,958 shares of the asset manager’s stock after buying an additional 28,561 shares during the period. Soltis Investment Advisors LLC’s holdings in Blackstone were worth $5,683,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Bangor Savings Bank lifted its position in shares of Blackstone by 187.5% during the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock worth $28,000 after buying an additional 105 shares during the period. Hager Investment Management Services LLC acquired a new stake in shares of Blackstone in the 4th quarter valued at $28,000. Berbice Capital Management LLC acquired a new stake in shares of Blackstone during the 4th quarter worth about $34,000. Comprehensive Financial Planning Inc. PA acquired a new position in Blackstone in the fourth quarter valued at about $34,000. Finally, Kieckhefer Group LLC acquired a new stake in shares of Blackstone during the fourth quarter worth approximately $39,000. 70.00% of the stock is owned by institutional investors.

Blackstone Trading Down 2.5 %

BX opened at $170.11 on Monday. The company has a 50-day simple moving average of $178.36 and a 200 day simple moving average of $163.62. Blackstone Inc. has a twelve month low of $115.82 and a twelve month high of $200.96. 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 stock has a market capitalization of $122.82 billion, a price-to-earnings ratio of 46.86, a P/E/G ratio of 1.13 and a beta of 1.53.

Blackstone (NYSE:BX) last issued 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 return on equity of 19.58% and a net margin of 20.99%. Analysts predict that Blackstone Inc. will post 5.88 EPS for the current fiscal year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th will be paid a $1.44 dividend. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.39%. This is a boost from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend is Monday, February 10th. Blackstone’s dividend payout ratio is presently 94.77%.

Wall Street Analysts Forecast Growth

BX has been the topic of several research analyst reports. StockNews.com cut Blackstone from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Evercore ISI upped their target price on shares of Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Citigroup upped their target price on shares of Blackstone from $170.00 to $190.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Wells Fargo & Company cut their price objective on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. Finally, Bank of America upped their target price on shares of Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $172.38.

Blackstone 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.