Armstrong Fleming & Moore Inc Has $485,000 Holdings in Blackstone Inc. (NYSE:BX)

Armstrong Fleming & Moore Inc reduced its position in Blackstone Inc. (NYSE:BX) by 6.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,811 shares of the asset manager’s stock after selling 189 shares during the quarter. Armstrong Fleming & Moore Inc’s holdings in Blackstone were worth $485,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Assenagon Asset Management S.A. boosted its stake in Blackstone by 8.8% in the third quarter. Assenagon Asset Management S.A. now owns 17,555 shares of the asset manager’s stock valued at $2,688,000 after buying an additional 1,425 shares in the last quarter. Autumn Glory Partners LLC grew its holdings in shares of Blackstone by 25.3% during the 3rd quarter. Autumn Glory Partners LLC now owns 3,940 shares of the asset manager’s stock valued at $603,000 after purchasing an additional 795 shares during the last quarter. Old Port Advisors increased its position in Blackstone by 6.5% during the 3rd quarter. Old Port Advisors now owns 6,019 shares of the asset manager’s stock worth $922,000 after purchasing an additional 366 shares in the last quarter. Worth Financial Advisory Group LLC boosted its position in Blackstone by 8.2% in the third quarter. Worth Financial Advisory Group LLC now owns 5,805 shares of the asset manager’s stock valued at $889,000 after buying an additional 438 shares in the last quarter. Finally, Cantor Fitzgerald Investment Advisors L.P. increased its holdings in shares of Blackstone by 58.2% during the third quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 9,492 shares of the asset manager’s stock worth $1,454,000 after buying an additional 3,492 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. TD Cowen raised Blackstone from a “hold” rating to a “buy” rating and upped their target price for the stock from $149.00 to $230.00 in a report on Monday, December 9th. StockNews.com lowered shares of Blackstone from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Piper Sandler upped their price target on shares of Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a research report on Monday, December 23rd. UBS Group boosted their price objective on shares of Blackstone from $170.00 to $180.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Finally, Barclays reaffirmed an “equal weight” rating on shares of Blackstone in a report on Friday, February 7th. Thirteen analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Blackstone presently has an average rating of “Hold” and an average price target of $172.38.

Insider Activity

In other news, Director Ruth Porat acquired 301 shares of Blackstone stock in a transaction on Tuesday, February 18th. The stock was acquired at an average cost of $164.85 per share, with a total value of $49,619.85. Following the transaction, the director now owns 36,829 shares of the company’s stock, valued at approximately $6,071,260.65. This trade represents a 0.82 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.00% of the company’s stock.

Blackstone Stock Performance

Shares of Blackstone stock opened at $157.22 on Wednesday. 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 Inc. has a one year low of $115.82 and a one year high of $200.96. The business has a 50-day simple moving average of $172.44 and a 200 day simple moving average of $166.12. The firm has a market capitalization of $113.51 billion, a price-to-earnings ratio of 43.31, a PEG ratio of 1.07 and a beta of 1.53.

Blackstone (NYSE:BX) last posted 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%. On average, research analysts anticipate that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were paid a dividend of $1.44 per share. The ex-dividend date was Monday, February 10th. This represents a $5.76 dividend on an annualized basis and a yield of 3.66%. This is an increase from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s payout ratio is 158.68%.

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.