Thoroughbred Financial Services LLC Reduces Holdings in Blackstone Inc. (NYSE:BX)

Thoroughbred Financial Services LLC decreased its position in shares of Blackstone Inc. (NYSE:BX) by 1.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,210 shares of the asset manager’s stock after selling 210 shares during the period. Thoroughbred Financial Services LLC’s holdings in Blackstone were worth $2,450,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BX. Bangor Savings Bank raised its holdings in Blackstone by 187.5% in the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 105 shares in the last quarter. Hager Investment Management Services LLC acquired a new stake in shares of Blackstone in the 4th quarter valued at about $28,000. Centricity Wealth Management LLC acquired a new position in Blackstone in the fourth quarter worth about $30,000. Roxbury Financial LLC acquired a new stake in Blackstone during the fourth quarter valued at approximately $34,000. Finally, Murphy & Mullick Capital Management Corp acquired a new position in shares of Blackstone in the 4th quarter worth approximately $33,000. 70.00% of the stock is owned by hedge funds and other institutional investors.

Blackstone Price Performance

Shares of NYSE:BX opened at $124.68 on Friday. The stock’s 50 day moving average price is $156.29 and its 200 day moving average price is $167.03. 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 market cap of $90.94 billion, a price-to-earnings ratio of 34.35, a PEG ratio of 1.07 and a beta of 1.61. Blackstone Inc. has a 12 month low of $115.82 and a 12 month 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 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%. Equities research analysts anticipate that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were given a $1.44 dividend. This is a positive change 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 yield of 4.62%. Blackstone’s payout ratio is 158.68%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Keefe, Bruyette & Woods raised their price objective on Blackstone from $174.00 to $177.00 and gave the stock a “market perform” rating in a research note on Friday, January 31st. Piper Sandler lifted their price target on shares of Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a report on Monday, December 23rd. StockNews.com lowered shares of Blackstone from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. BMO Capital Markets upped their target price on Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a report on Thursday, December 19th. Finally, TD Cowen upgraded Blackstone from a “hold” rating to a “buy” rating and boosted their price objective for the company from $149.00 to $230.00 in a research report on Monday, December 9th. Twelve investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $172.06.

Insider Activity

In other news, Director Ruth Porat acquired 301 shares of Blackstone stock in a transaction on Tuesday, February 18th. The stock was bought at an average cost of $164.85 per share, with a total value of $49,619.85. Following the completion of the purchase, the director now owns 36,829 shares of the company’s stock, valued at $6,071,260.65. This represents a 0.82 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.00% of the company’s stock.

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.