By otakuyassine3@gmail.com 
Grandview Asset Management LLC reduced its stake in shares of Blackstone Inc. (NYSE:BX – Free Report) by 26.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,748 shares of the asset manager’s stock after selling 5,219 shares during the period. Blackstone accounts for about 0.9% of Grandview Asset Management LLC’s investment portfolio, making the stock its 26th largest position. Grandview Asset Management LLC’s holdings in Blackstone were worth $2,543,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also recently bought and sold shares of BX. West Financial Advisors LLC purchased a new stake in shares of Blackstone during the 3rd quarter valued at $27,000. Bangor Savings Bank increased its stake in Blackstone by 187.5% during the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock worth $28,000 after acquiring an additional 105 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Blackstone during the 2nd quarter worth about $39,000. Raleigh Capital Management Inc. raised its holdings in Blackstone by 32.1% in the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock valued at $39,000 after buying an additional 62 shares during the period. Finally, Kieckhefer Group LLC acquired a new position in Blackstone during the fourth quarter valued at approximately $39,000. 70.00% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities analysts recently weighed in on BX shares. JPMorgan Chase & Co. lifted their target price on shares of Blackstone from $125.00 to $146.00 and gave the company a “neutral” rating in a report on Friday, October 18th. BMO Capital Markets upped their target price on Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a research report on Thursday, December 19th. TD Cowen upgraded Blackstone from a “hold” rating to a “buy” rating and raised their target price for the company from $149.00 to $230.00 in a report on Monday, December 9th. Keefe, Bruyette & Woods lowered their price objective on shares of Blackstone from $175.00 to $174.00 and set a “market perform” rating for the company in a research report on Monday. Finally, Wells Fargo & Company downgraded shares of Blackstone from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $188.00 to $195.00 in a research note on Thursday, December 12th. Twelve equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $170.50.
Insider Activity
In other Blackstone news, insider John G. Finley sold 42,249 shares of Blackstone stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the sale, the insider now owns 387,137 shares of the company’s stock, valued at $68,112,883.78. The trade was a 9.84 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.00% of the company’s stock.
Blackstone Stock Performance
BX stock opened at $165.70 on Tuesday. The firm has a market cap of $119.64 billion, a P/E ratio of 56.94, a P/E/G ratio of 1.63 and a beta of 1.53. The stock’s 50 day simple moving average is $180.71 and its 200 day simple moving average is $157.27. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. Blackstone Inc. has a 12-month low of $114.88 and a 12-month high of $200.96.
Blackstone (NYSE:BX – Get Free Report) last posted its quarterly earnings results on Thursday, October 17th. The asset manager reported $1.01 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $2.37 billion. As a group, equities research analysts predict that Blackstone Inc. will post 4.43 EPS for the current year.
Blackstone Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Monday, October 28th were paid a dividend of $0.86 per share. This is an increase from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date was Monday, October 28th. Blackstone’s dividend payout ratio is presently 118.21%.
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.
See Also
Want to see what other hedge funds are holding BX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Blackstone Inc. (NYSE:BX – Free Report).
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