Ingalls & Snyder LLC Sells 292 Shares of Blackstone Inc. (NYSE:BX)

Ingalls & Snyder LLC decreased its stake in shares of Blackstone Inc. (NYSE:BX) by 9.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 2,963 shares of the asset manager’s stock after selling 292 shares during the period. Ingalls & Snyder LLC’s holdings in Blackstone were worth $511,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sather Financial Group Inc boosted its holdings in shares of Blackstone by 202.5% during the 3rd quarter. Sather Financial Group Inc now owns 6,050 shares of the asset manager’s stock worth $926,000 after buying an additional 4,050 shares during the period. Portside Wealth Group LLC bought a new stake in shares of Blackstone during the 3rd quarter worth about $201,000. Aljian Capital Management LLC bought a new stake in shares of Blackstone during the 3rd quarter worth about $1,951,000. Icon Wealth Advisors LLC boosted its holdings in Blackstone by 2,185.4% in the 3rd quarter. Icon Wealth Advisors LLC now owns 18,946 shares of the asset manager’s stock valued at $2,901,000 after purchasing an additional 18,117 shares during the period. Finally, Highland Capital Management LLC boosted its holdings in Blackstone by 214.2% in the 4th quarter. Highland Capital Management LLC now owns 22,303 shares of the asset manager’s stock valued at $3,845,000 after purchasing an additional 15,205 shares during the period. Institutional investors own 70.00% of the company’s stock.

Blackstone Price Performance

BX stock opened at $160.40 on Friday. The company has a 50 day simple moving average of $177.07 and a 200 day simple moving average of $164.14. The stock has a market cap of $115.81 billion, a price-to-earnings ratio of 44.19, a P/E/G ratio of 1.13 and a beta of 1.53. Blackstone Inc. has a 1 year low of $115.82 and a 1 year high of $200.96. 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 (NYSE:BX) last posted its earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.19. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. Research analysts anticipate that Blackstone Inc. will post 5.88 EPS for the current fiscal year.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th will be issued a dividend of $1.44 per share. This represents a $5.76 dividend on an annualized basis and a yield of 3.59%. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend is Monday, February 10th. Blackstone’s payout ratio is presently 94.77%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on BX shares. Barclays cut their price objective on shares of Blackstone from $192.00 to $186.00 and set an “equal weight” rating for the company in a report on Friday, January 31st. StockNews.com downgraded shares of Blackstone from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Cowen reissued a “hold” rating on shares of Blackstone in a report on Friday, October 18th. Piper Sandler boosted their target price 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. Finally, JPMorgan Chase & Co. boosted their target price on shares of Blackstone from $149.00 to $154.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Thirteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $172.38.

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.