Shepherd Financial Partners LLC Has $5.31 Million Stock Holdings in Blackstone Inc. (NYSE:BX)

Shepherd Financial Partners LLC increased its holdings in shares of Blackstone Inc. (NYSE:BX) by 3.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 30,770 shares of the asset manager’s stock after acquiring an additional 1,065 shares during the quarter. Blackstone comprises about 0.6% of Shepherd Financial Partners LLC’s investment portfolio, making the stock its 28th largest holding. Shepherd Financial Partners LLC’s holdings in Blackstone were worth $5,305,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Bangor Savings Bank grew its stake 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 buying an additional 105 shares in the last quarter. Hager Investment Management Services LLC acquired a new stake in shares of Blackstone during the 4th quarter worth approximately $28,000. Berbice Capital Management LLC bought a new stake in Blackstone during the fourth quarter worth $34,000. Raleigh Capital Management Inc. raised its holdings in shares of Blackstone by 32.1% during 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 in the last quarter. Finally, Kieckhefer Group LLC acquired a new stake in Blackstone in the fourth quarter valued at about $39,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Analyst Ratings Changes

BX has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised their price target on shares of Blackstone from $149.00 to $154.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Piper Sandler boosted their target price on shares of Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a research note on Monday, December 23rd. Citigroup boosted their price objective on Blackstone from $170.00 to $190.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. The Goldman Sachs Group boosted their price target on Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Finally, StockNews.com lowered shares of Blackstone from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Thirteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $172.38.

Blackstone Price Performance

Shares of BX opened at $170.11 on Friday. The business’s 50 day moving average price is $178.78 and its two-hundred day moving average price is $163.28. The firm has a market cap of $122.82 billion, a PE ratio of 46.86, a price-to-earnings-growth ratio of 1.18 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. Blackstone Inc. has a 52-week low of $115.82 and a 52-week high of $200.96.

Blackstone (NYSE:BX) last announced its quarterly earnings data 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 net margin of 20.99% and a return on equity of 19.58%. On average, equities analysts anticipate that Blackstone Inc. will post 5.86 EPS for the current year.

Blackstone Increases Dividend

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

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.