LM Advisors LLC Trims Holdings in Blackstone Inc. (NYSE:BX)

LM Advisors LLC trimmed its position in shares of Blackstone Inc. (NYSE:BX) by 5.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,863 shares of the asset manager’s stock after selling 300 shares during the period. LM Advisors LLC’s holdings in Blackstone were worth $838,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Raymond James Financial Inc. purchased a new position in Blackstone in the 4th quarter valued at approximately $316,257,000. Vanguard Group Inc. grew its stake in Blackstone by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 66,894,632 shares of the asset manager’s stock worth $11,533,972,000 after purchasing an additional 889,286 shares in the last quarter. Proficio Capital Partners LLC boosted its stake in shares of Blackstone by 2,057.7% in the 4th quarter. Proficio Capital Partners LLC now owns 844,755 shares of the asset manager’s stock valued at $145,653,000 after buying an additional 805,604 shares during the period. Jennison Associates LLC raised its holdings in Blackstone by 111.1% in the fourth quarter. Jennison Associates LLC now owns 973,348 shares of the asset manager’s stock valued at $167,825,000 after acquiring an additional 512,165 shares in the last quarter. Finally, Amundi raised its holdings in shares of Blackstone by 51.0% in the 4th quarter. Amundi now owns 1,430,555 shares of the asset manager’s stock valued at $248,723,000 after purchasing an additional 483,362 shares in the last quarter. 70.00% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Keefe, Bruyette & Woods raised 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. Wells Fargo & Company decreased their target price on Blackstone from $180.00 to $160.00 and set an “equal weight” rating for the company in a research note on Thursday, March 20th. JPMorgan Chase & Co. raised their price objective on shares of Blackstone from $149.00 to $154.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Piper Sandler lifted their price target on shares of Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a research note on Monday, December 23rd. Finally, TD Cowen raised Blackstone from a “hold” rating to a “buy” rating and raised their price objective for the stock from $149.00 to $230.00 in a report on Monday, December 9th. Twelve research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $171.13.

Insiders Place Their Bets

In other news, Director Ruth Porat bought 301 shares of the stock in a transaction on Tuesday, February 18th. The shares were bought at an average price of $164.85 per share, with a total value of $49,619.85. Following the completion of the acquisition, the director now owns 36,829 shares of the company’s stock, valued at approximately $6,071,260.65. This trade represents a 0.82 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.00% of the stock is currently owned by company insiders.

Blackstone Stock Down 2.9 %

Shares of NYSE:BX opened at $146.76 on Thursday. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. The company has a market cap of $107.05 billion, a price-to-earnings ratio of 40.43, a PEG ratio of 1.07 and a beta of 1.55. Blackstone Inc. has a fifty-two week low of $115.82 and a fifty-two week high of $200.96. The firm’s 50-day simple moving average is $162.33 and its 200-day simple moving average is $167.54.

Blackstone (NYSE:BX) last issued its earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, topping 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%. As a group, equities research analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th were issued a $1.44 dividend. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date was Monday, February 10th. This is an increase from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s dividend payout ratio (DPR) is currently 158.68%.

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.