W.G. Shaheen & Associates DBA Whitney & Co Has $477,000 Position in Blackstone Inc. (NYSE:BX)

W.G. Shaheen & Associates DBA Whitney & Co trimmed its position in Blackstone Inc. (NYSE:BX) by 5.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,765 shares of the asset manager’s stock after selling 150 shares during the quarter. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in Blackstone were worth $477,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Glen Eagle Advisors LLC lifted its stake in Blackstone by 1.8% in the third quarter. Glen Eagle Advisors LLC now owns 3,251 shares of the asset manager’s stock valued at $498,000 after purchasing an additional 59 shares during the last quarter. Avidian Wealth Enterprises LLC raised its stake in shares of Blackstone by 0.4% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 16,184 shares of the asset manager’s stock valued at $2,790,000 after buying an additional 59 shares during the period. Investmark Advisory Group LLC grew its stake in shares of Blackstone by 2.4% during the 3rd quarter. Investmark Advisory Group LLC now owns 2,608 shares of the asset manager’s stock worth $399,000 after acquiring an additional 60 shares during the period. Capital Advisors Ltd. LLC lifted its holdings in Blackstone by 2.3% during the third quarter. Capital Advisors Ltd. LLC now owns 2,787 shares of the asset manager’s stock valued at $427,000 after purchasing an additional 62 shares during the last quarter. Finally, Fidelis Capital Partners LLC boosted its position in Blackstone by 2.7% during the third quarter. Fidelis Capital Partners LLC now owns 2,374 shares of the asset manager’s stock worth $396,000 after purchasing an additional 62 shares during the period. 70.00% of the stock is currently owned by institutional investors.

Blackstone Trading Down 3.5 %

Shares of NYSE BX opened at $158.21 on Monday. Blackstone Inc. has a 1 year low of $115.82 and a 1 year high of $200.96. The firm has a 50-day moving average of $173.58 and a 200 day moving average of $165.74. The stock has a market cap of $114.23 billion, a P/E ratio of 43.58, a price-to-earnings-growth ratio of 1.07 and a beta of 1.53. 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 posted 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 return on equity of 19.58% and a net margin of 20.99%. As a group, sell-side analysts expect that Blackstone Inc. will post 5.87 EPS for the current fiscal 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 paid a dividend of $1.44 per share. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date was Monday, February 10th. Blackstone’s dividend payout ratio (DPR) is currently 158.68%.

Insider Transactions at Blackstone

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 shares were bought at an average cost of $164.85 per share, with a total value of $49,619.85. Following the completion of the transaction, the director now directly owns 36,829 shares of the company’s stock, valued at approximately $6,071,260.65. This represents a 0.82 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

BX has been the topic of several research reports. JPMorgan Chase & Co. raised their price objective 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. Keefe, Bruyette & Woods increased 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. Barclays reaffirmed an “equal weight” rating on shares of Blackstone in a research note on Friday, February 7th. BMO Capital Markets upped their price target on shares of Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a research report on Thursday, December 19th. Finally, Citigroup restated a “hold” rating on shares of Blackstone in a research report on Friday, February 7th. Thirteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price 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.