Arcus Capital Partners LLC Cuts Stake in Blackstone Inc. (NYSE:BX)

Arcus Capital Partners LLC trimmed its position in shares of Blackstone Inc. (NYSE:BX) by 1.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 4,750 shares of the asset manager’s stock after selling 63 shares during the quarter. Arcus Capital Partners LLC’s holdings in Blackstone were worth $819,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in BX. Glen Eagle Advisors LLC boosted its holdings in shares of Blackstone by 1.8% during the 3rd quarter. Glen Eagle Advisors LLC now owns 3,251 shares of the asset manager’s stock valued at $498,000 after acquiring an additional 59 shares during the last quarter. Avidian Wealth Enterprises LLC boosted its holdings in Blackstone by 0.4% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 16,184 shares of the asset manager’s stock worth $2,790,000 after purchasing an additional 59 shares during the last quarter. Investmark Advisory Group LLC boosted its holdings in Blackstone by 2.4% in the third 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. Raleigh Capital Management Inc. boosted its stake in shares of 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 buying an additional 62 shares during the last quarter. Finally, Capital Advisors Ltd. LLC boosted its stake in shares of Blackstone by 2.3% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 2,787 shares of the asset manager’s stock worth $427,000 after buying an additional 62 shares during the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Stock Down 0.3 %

BX stock opened at $160.40 on Friday. The firm has a market cap of $115.81 billion, a PE ratio of 44.19, a PEG ratio of 1.13 and a beta of 1.53. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67. The firm’s 50 day moving average price is $177.07 and its 200-day moving average price is $164.14. Blackstone Inc. has a one year low of $115.82 and a one year high of $200.96.

Blackstone (NYSE:BX) last posted its earnings results on Thursday, January 30th. The asset manager reported $1.69 EPS for the quarter, beating 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 anticipate that Blackstone Inc. will post 5.88 EPS for the current year.

Blackstone Increases Dividend

The business 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 3.59%. This is an increase from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date is Monday, February 10th. Blackstone’s payout ratio is 94.77%.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. UBS Group raised their target price on Blackstone from $170.00 to $180.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. TD Cowen raised shares of Blackstone from a “hold” rating to a “buy” rating and raised their price objective for the stock from $149.00 to $230.00 in a report on Monday, December 9th. Wells Fargo & Company dropped their price target on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. The Goldman Sachs Group lifted their target price on Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Finally, Keefe, Bruyette & Woods lifted their price objective on Blackstone from $174.00 to $177.00 and gave the company a “market perform” rating in a research report on Friday, January 31st. Thirteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Blackstone 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.