Blackstone Inc. (NYSE:BX) is Summit Place Financial Advisors LLC’s 9th Largest Position

Summit Place Financial Advisors LLC lessened its position in shares of Blackstone Inc. (NYSE:BX) by 8.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,636 shares of the asset manager’s stock after selling 2,030 shares during the quarter. Blackstone comprises 2.2% of Summit Place Financial Advisors LLC’s holdings, making the stock its 9th biggest position. Summit Place Financial Advisors LLC’s holdings in Blackstone were worth $3,903,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Bangor Savings Bank increased its stake in Blackstone by 187.5% during the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 105 shares in the last quarter. Hager Investment Management Services LLC purchased a new stake in shares of Blackstone in the 4th quarter valued at $28,000. Berbice Capital Management LLC purchased a new stake in shares of Blackstone in the 4th quarter valued at $34,000. Comprehensive Financial Planning Inc. PA purchased a new stake in shares of Blackstone in the 4th quarter valued at $34,000. Finally, Roxbury Financial LLC purchased a new stake in shares of Blackstone in the 4th quarter valued at $34,000. Institutional investors own 70.00% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. TD Cowen raised shares of Blackstone from a “hold” rating to a “buy” rating and upped their price objective for the company from $149.00 to $230.00 in a report on Monday, December 9th. Keefe, Bruyette & Woods raised their price target on shares of Blackstone from $174.00 to $177.00 and gave the company a “market perform” rating in a research report on Friday, January 31st. UBS Group raised their price target on shares of Blackstone from $170.00 to $180.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. 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 report on Friday, January 31st. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Thirteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Blackstone presently has an average rating of “Hold” and an average target price of $172.38.

Blackstone Price Performance

Shares of BX opened at $166.59 on Wednesday. Blackstone Inc. has a 1-year low of $115.82 and a 1-year high of $200.96. The stock has a market cap of $120.28 billion, a PE ratio of 45.89, a P/E/G ratio of 1.07 and a beta of 1.53. The firm has a 50-day simple moving average of $175.23 and a two-hundred day simple moving average of $165.03. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71.

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 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%. As a group, analysts forecast that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were given a dividend of $1.44 per share. The ex-dividend date was Monday, February 10th. This represents a $5.76 dividend on an annualized basis and a yield of 3.46%. This is an increase from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s dividend payout ratio is presently 158.68%.

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.