Douglas Lane & Associates LLC Has $121.96 Million Stock Holdings in Blackstone Inc. (NYSE:BX)

Douglas Lane & Associates LLC trimmed its position in shares of Blackstone Inc. (NYSE:BX) by 4.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 707,350 shares of the asset manager’s stock after selling 33,135 shares during the period. Blackstone makes up 1.7% of Douglas Lane & Associates LLC’s portfolio, making the stock its 10th biggest holding. Douglas Lane & Associates LLC owned approximately 0.10% of Blackstone worth $121,961,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in BX. Fulton Bank N.A. grew its position in Blackstone by 0.9% in the 4th quarter. Fulton Bank N.A. now owns 11,202 shares of the asset manager’s stock worth $1,931,000 after purchasing an additional 103 shares during the last quarter. One Wealth Capital Management LLC acquired a new stake in Blackstone during the fourth quarter worth about $210,000. Norway Savings Bank lifted its position in shares of Blackstone by 3.9% in the 4th quarter. Norway Savings Bank now owns 13,600 shares of the asset manager’s stock worth $2,345,000 after acquiring an additional 506 shares during the period. Regent Peak Wealth Advisors LLC increased its position in shares of Blackstone by 5.6% during the fourth quarter. Regent Peak Wealth Advisors LLC now owns 1,861 shares of the asset manager’s stock valued at $321,000 after purchasing an additional 99 shares during the period. Finally, Diversified Trust Co boosted its stake in Blackstone by 8.3% during the fourth quarter. Diversified Trust Co now owns 9,534 shares of the asset manager’s stock worth $1,644,000 after buying an additional 730 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on BX. TD Cowen raised shares of Blackstone from a “hold” rating to a “buy” rating and increased their price target for the stock from $149.00 to $230.00 in a research report on Monday, December 9th. The Goldman Sachs Group boosted their price objective on shares of Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Wells Fargo & Company cut Blackstone from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $188.00 to $195.00 in a research note on Thursday, December 12th. Evercore ISI lifted their price target on shares of Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Fourteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Blackstone presently has an average rating of “Hold” and a consensus price target of $171.00.

Insider Buying and Selling at Blackstone

In other news, insider John G. Finley sold 42,249 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $175.94, for a total value of $7,433,289.06. Following the completion of the sale, the insider now owns 387,137 shares of the company’s stock, valued at approximately $68,112,883.78. The trade was a 9.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.00% of the company’s stock.

Blackstone Stock Up 1.3 %

BX traded up $2.27 on Wednesday, hitting $173.61. 986,253 shares of the company were exchanged, compared to its average volume of 1,973,315. The company has a market cap of $125.35 billion, a PE ratio of 59.66, a PEG ratio of 1.63 and a beta of 1.53. Blackstone Inc. has a 12 month low of $114.88 and a 12 month high of $200.96. The stock’s fifty day moving average is $180.62 and its 200-day moving average is $156.00. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71.

Blackstone (NYSE:BX) last issued its earnings results on Thursday, October 17th. The asset manager reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.10. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. The business had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.37 billion. Equities research analysts predict that Blackstone Inc. will post 4.43 EPS for the current fiscal year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Monday, October 28th were issued a dividend of $0.86 per share. This is an increase from Blackstone’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend was Monday, October 28th. This represents a $3.44 annualized dividend and a yield of 1.98%. Blackstone’s dividend payout ratio (DPR) is currently 118.21%.

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.