Blackstone Inc. (NYSE:BX) Stock Holdings Cut by Atlanta Consulting Group Advisors LLC

Atlanta Consulting Group Advisors LLC lowered its holdings in shares of Blackstone Inc. (NYSE:BX) by 2.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,311 shares of the asset manager’s stock after selling 735 shares during the quarter. Blackstone makes up 1.7% of Atlanta Consulting Group Advisors LLC’s holdings, making the stock its 10th largest position. Atlanta Consulting Group Advisors LLC’s holdings in Blackstone were worth $4,709,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. Glen Eagle Advisors LLC increased its position in shares of Blackstone by 1.8% during the third quarter. Glen Eagle Advisors LLC now owns 3,251 shares of the asset manager’s stock worth $498,000 after purchasing an additional 59 shares in the last quarter. Avidian Wealth Enterprises LLC increased its position in shares of Blackstone by 0.4% during the fourth quarter. Avidian Wealth Enterprises LLC now owns 16,184 shares of the asset manager’s stock worth $2,790,000 after purchasing an additional 59 shares in the last quarter. Investmark Advisory Group LLC increased its position in Blackstone by 2.4% in the 3rd quarter. Investmark Advisory Group LLC now owns 2,608 shares of the asset manager’s stock valued at $399,000 after acquiring an additional 60 shares during the period. McIlrath & Eck LLC increased its position in Blackstone by 6.5% in the 3rd quarter. McIlrath & Eck LLC now owns 1,019 shares of the asset manager’s stock valued at $156,000 after acquiring an additional 62 shares during the period. Finally, McAdam LLC increased its position in Blackstone by 3.9% in the 4th quarter. McAdam LLC now owns 1,687 shares of the asset manager’s stock valued at $291,000 after acquiring an additional 63 shares during the period. Institutional investors and hedge funds own 70.00% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on BX shares. TD Cowen upgraded Blackstone from a “hold” rating to a “buy” rating and boosted their price target for the company from $149.00 to $230.00 in a research report on Monday, December 9th. JPMorgan Chase & Co. boosted their price target on Blackstone from $149.00 to $154.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Barclays reaffirmed an “equal weight” rating on shares of Blackstone in a report on Friday, February 7th. BMO Capital Markets lifted their price objective on Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a report on Thursday, December 19th. Finally, UBS Group reaffirmed a “neutral” rating on shares of Blackstone in a report on Monday, March 3rd. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Blackstone presently has a consensus rating of “Hold” and a consensus price target of $172.38.

Blackstone Trading Up 3.3 %

Shares of Blackstone stock opened at $141.01 on Monday. 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 Inc. has a 1 year low of $115.82 and a 1 year high of $200.96. The company has a market capitalization of $102.86 billion, a P/E ratio of 38.85, a P/E/G ratio of 1.07 and a beta of 1.55. The business has a 50 day moving average price of $165.90 and a 200 day moving average price of $167.21.

Blackstone (NYSE:BX) last issued its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.19. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. Sell-side analysts anticipate that Blackstone Inc. will post 5.87 EPS 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 issued a $1.44 dividend. The ex-dividend date was Monday, February 10th. This is an increase from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 annualized dividend and a yield of 4.08%. Blackstone’s payout ratio is 158.68%.

Insider Buying and Selling at Blackstone

In other news, Director Ruth Porat acquired 301 shares of the company’s stock in a transaction dated 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 acquisition, the director now directly owns 36,829 shares in the company, valued at approximately $6,071,260.65. This represents a 0.82 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 1.00% of the stock is currently owned by insiders.

About Blackstone

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.