Blackstone Inc. (NYSE:BX) is Leavell Investment Management Inc.’s 8th Largest Position

Leavell Investment Management Inc. lessened its position in shares of Blackstone Inc. (NYSE:BX) by 0.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 181,666 shares of the asset manager’s stock after selling 1,726 shares during the period. Blackstone comprises 1.5% of Leavell Investment Management Inc.’s portfolio, making the stock its 8th largest position. Leavell Investment Management Inc.’s holdings in Blackstone were worth $31,323,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. State Street Corp lifted its holdings in Blackstone by 1.2% during the 3rd quarter. State Street Corp now owns 30,020,426 shares of the asset manager’s stock worth $4,597,028,000 after buying an additional 348,751 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Blackstone by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 14,896,413 shares of the asset manager’s stock worth $2,272,227,000 after purchasing an additional 336,308 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Blackstone by 15,357.3% in the 3rd quarter. International Assets Investment Management LLC now owns 4,201,150 shares of the asset manager’s stock worth $6,433,220,000 after purchasing an additional 4,173,971 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Blackstone by 1.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,931,411 shares of the asset manager’s stock worth $602,017,000 after purchasing an additional 61,739 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Blackstone by 3.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,430,909 shares of the asset manager’s stock worth $525,375,000 after purchasing an additional 116,367 shares during the last quarter. Institutional investors own 70.00% of the company’s stock.

Analyst Ratings Changes

BX has been the topic of several recent research reports. Wells Fargo & Company cut their price target on Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. Citigroup raised their price target on Blackstone from $170.00 to $190.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Piper Sandler lifted their target price on Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a research note on Monday, December 23rd. Bank of America lifted their target price on Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Finally, 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 note on Friday, October 18th. 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, the company has an average rating of “Hold” and a consensus price target of $172.38.

Blackstone Stock Down 2.3 %

BX opened at $164.80 on Wednesday. Blackstone Inc. has a one year low of $115.82 and a one year high of $200.96. 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 stock’s fifty day moving average is $177.99 and its 200-day moving average is $164.00. The company has a market capitalization of $118.98 billion, a PE ratio of 45.40, a P/E/G ratio of 1.13 and a beta of 1.53.

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

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th will be given a dividend of $1.44 per share. The ex-dividend date of this dividend is Monday, February 10th. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.50%. Blackstone’s payout ratio is 94.77%.

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.