Acorn Wealth Advisors LLC Has $2.69 Million Holdings in Blackstone Inc. (NYSE:BX)

Acorn Wealth Advisors LLC reduced its position in shares of Blackstone Inc. (NYSE:BX) by 1.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,619 shares of the asset manager’s stock after selling 309 shares during the period. Blackstone comprises about 1.1% of Acorn Wealth Advisors LLC’s investment portfolio, making the stock its 20th largest holding. Acorn Wealth Advisors LLC’s holdings in Blackstone were worth $2,693,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sather Financial Group Inc lifted its position in 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 in the last quarter. Portside Wealth Group LLC bought a new stake in Blackstone during the third quarter worth about $201,000. Aljian Capital Management LLC bought a new position in Blackstone in the third quarter valued at approximately $1,951,000. Icon Wealth Advisors LLC raised its stake in shares of Blackstone by 2,185.4% during the 3rd quarter. Icon Wealth Advisors LLC now owns 18,946 shares of the asset manager’s stock worth $2,901,000 after purchasing an additional 18,117 shares in the last quarter. Finally, Wealthcare Capital Partners LLC bought a new position in shares of Blackstone in the fourth quarter valued at $2,102,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Buying and Selling

In other Blackstone news, Director Ruth Porat acquired 301 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was acquired at an average cost of $164.85 per share, for a total transaction of $49,619.85. Following the transaction, the director now directly owns 36,829 shares in the company, valued at $6,071,260.65. This represents a 0.82 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 1.00% of the stock is currently owned by company insiders.

Blackstone Stock Down 0.7 %

Shares of BX opened at $157.27 on Tuesday. 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 stock has a market capitalization of $113.55 billion, a PE ratio of 43.32, a P/E/G ratio of 1.07 and a beta of 1.53. The firm’s 50 day moving average is $172.96 and its 200-day moving average is $165.93. Blackstone Inc. has a 12 month low of $115.82 and a 12 month high of $200.96.

Blackstone (NYSE:BX) last released its earnings results 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 return on equity of 19.58% and a net margin of 20.99%. Equities research analysts forecast that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th were given a $1.44 dividend. The ex-dividend date was Monday, February 10th. This is a boost from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 annualized dividend and a dividend yield of 3.66%. Blackstone’s payout ratio is presently 158.68%.

Analyst Upgrades and Downgrades

BX has been the subject of a number of recent analyst reports. Citigroup reiterated a “hold” rating on shares of Blackstone in a research note on Friday, February 7th. StockNews.com cut Blackstone from a “buy” rating to a “hold” rating in a report on Friday, January 31st. JPMorgan Chase & Co. upped their price objective on Blackstone from $149.00 to $154.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Barclays reissued an “equal weight” rating on shares of Blackstone in a report on Friday, February 7th. Finally, Wells Fargo & Company cut their price target on Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. Thirteen investment 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, Blackstone has a consensus 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.