Blackstone Inc. (NYSE:BX) Shares Sold by Kellett Wealth Advisors LLC

Kellett Wealth Advisors LLC decreased its position in shares of Blackstone Inc. (NYSE:BX) by 14.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,744 shares of the asset manager’s stock after selling 300 shares during the quarter. Kellett Wealth Advisors LLC’s holdings in Blackstone were worth $301,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. raised its holdings in shares of Blackstone by 8.8% in the third quarter. Assenagon Asset Management S.A. now owns 17,555 shares of the asset manager’s stock valued at $2,688,000 after buying an additional 1,425 shares during the last quarter. Autumn Glory Partners LLC raised its stake in Blackstone by 25.3% during the 3rd quarter. Autumn Glory Partners LLC now owns 3,940 shares of the asset manager’s stock valued at $603,000 after acquiring an additional 795 shares during the last quarter. Old Port Advisors grew its stake in shares of Blackstone by 6.5% in the 3rd quarter. Old Port Advisors now owns 6,019 shares of the asset manager’s stock valued at $922,000 after purchasing an additional 366 shares during the last quarter. Worth Financial Advisory Group LLC increased its holdings in shares of Blackstone by 8.2% in the third quarter. Worth Financial Advisory Group LLC now owns 5,805 shares of the asset manager’s stock valued at $889,000 after purchasing an additional 438 shares during the period. Finally, Cantor Fitzgerald Investment Advisors L.P. lifted its holdings in shares of Blackstone by 58.2% during the third quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 9,492 shares of the asset manager’s stock worth $1,454,000 after purchasing an additional 3,492 shares during the period. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Transactions at Blackstone

In other news, Director Ruth Porat purchased 301 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was bought at an average cost of $164.85 per share, for a total transaction of $49,619.85. Following the completion of the purchase, the director now directly owns 36,829 shares of the company’s stock, valued at $6,071,260.65. The trade was a 0.82 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.00% of the company’s stock.

Blackstone Trading Up 0.1 %

Blackstone stock opened at $157.22 on Wednesday. The stock has a market cap of $113.51 billion, a PE ratio of 43.31, a P/E/G ratio of 1.07 and a beta of 1.53. 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 50-day moving average price of $172.44 and a 200 day moving average price of $166.12. Blackstone Inc. has a 52 week low of $115.82 and a 52 week high of $200.96.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.19. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. Equities research analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were paid a $1.44 dividend. This represents a $5.76 dividend on an annualized basis and a yield of 3.66%. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date was Monday, February 10th. Blackstone’s dividend payout ratio (DPR) is presently 158.68%.

Analyst Ratings Changes

BX has been the subject of several recent analyst reports. TD Cowen upgraded shares of Blackstone from a “hold” rating to a “buy” rating and raised their target price for the stock from $149.00 to $230.00 in a research note on Monday, December 9th. Piper Sandler raised their price objective 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. StockNews.com downgraded Blackstone from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Keefe, Bruyette & Woods lifted their price target on Blackstone from $174.00 to $177.00 and gave the company a “market perform” rating in a research note on Friday, January 31st. Finally, JPMorgan Chase & Co. raised their target price on Blackstone from $149.00 to $154.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Thirteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Blackstone currently has a consensus rating of “Hold” and a consensus price target 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.