Core Alternative Capital Sells 481 Shares of Blackstone Inc. (NYSE:BX)

Core Alternative Capital cut its position in shares of Blackstone Inc. (NYSE:BX) by 1.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 34,860 shares of the asset manager’s stock after selling 481 shares during the quarter. Core Alternative Capital’s holdings in Blackstone were worth $6,011,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of BX. Bangor Savings Bank lifted its position in shares of Blackstone by 187.5% in the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock worth $28,000 after purchasing an additional 105 shares in the last quarter. Hager Investment Management Services LLC acquired a new position in shares of Blackstone during the 4th quarter worth about $28,000. Berbice Capital Management LLC acquired a new stake in shares of Blackstone in the fourth quarter valued at about $34,000. Comprehensive Financial Planning Inc. PA acquired a new position in Blackstone during the fourth quarter valued at approximately $34,000. Finally, Raleigh Capital Management Inc. increased its position 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 purchasing an additional 62 shares during the last quarter. Institutional investors own 70.00% of the company’s stock.

Blackstone Stock Down 1.0 %

Shares of BX opened at $168.52 on Tuesday. The stock has a market capitalization of $121.67 billion, a PE ratio of 46.42, a P/E/G ratio of 1.13 and a beta of 1.53. Blackstone Inc. has a 12 month low of $115.82 and a 12 month high of $200.96. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. The firm’s 50 day moving average is $178.36 and its 200-day moving average is $163.80.

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

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th will be given a dividend of $1.44 per share. This is an increase from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 annualized dividend and a yield of 3.42%. The ex-dividend date of this dividend is Monday, February 10th. Blackstone’s payout ratio is currently 158.68%.

Analyst Ratings Changes

Several research firms recently weighed in on BX. JPMorgan Chase & Co. raised their target price 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. TD Cowen raised shares of Blackstone from a “hold” rating to a “buy” rating and upped their target price for the company from $149.00 to $230.00 in a report on Monday, December 9th. StockNews.com cut Blackstone from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Cowen reaffirmed a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. Finally, Evercore ISI increased their price target on Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Thirteen 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, the stock currently has a consensus rating of “Hold” and a consensus target price of $172.38.

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.