Blackstone Inc. (NYSE:BX) Shares Sold by Kercheville Advisors LLC

Kercheville Advisors LLC decreased its holdings in shares of Blackstone Inc. (NYSE:BX) by 2.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,465 shares of the asset manager’s stock after selling 1,199 shares during the quarter. Blackstone makes up approximately 3.0% of Kercheville Advisors LLC’s holdings, making the stock its 12th biggest holding. Kercheville Advisors LLC’s holdings in Blackstone were worth $7,839,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in BX. State Street Corp increased its position in Blackstone by 1.2% in the 3rd quarter. State Street Corp now owns 30,020,426 shares of the asset manager’s stock valued at $4,597,028,000 after acquiring an additional 348,751 shares during the period. Geode Capital Management LLC grew its position in Blackstone by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 14,896,413 shares of the asset manager’s stock valued at $2,272,227,000 after buying an additional 336,308 shares in the last quarter. International Assets Investment Management LLC lifted its stake in shares of Blackstone by 15,357.3% in the 3rd quarter. International Assets Investment Management LLC now owns 4,201,150 shares of the asset manager’s stock worth $6,433,220,000 after acquiring an additional 4,173,971 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Blackstone by 1.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,931,411 shares of the asset manager’s stock worth $602,017,000 after purchasing an additional 61,739 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Blackstone by 3.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,430,909 shares of the asset manager’s stock worth $525,375,000 after acquiring an additional 116,367 shares during the period. 70.00% of the stock is owned by institutional investors and hedge funds.

Blackstone Price Performance

Shares of BX opened at $174.99 on Thursday. The firm’s 50 day moving average price is $179.34 and its 200 day moving average price is $163.11. Blackstone Inc. has a twelve month low of $115.82 and a twelve month high of $200.96. The firm has a market cap of $126.34 billion, a PE ratio of 48.21, a PEG ratio of 1.18 and a beta of 1.53. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67.

Blackstone (NYSE:BX) last issued its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 EPS 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, research analysts expect that Blackstone Inc. will post 5.86 EPS for the current fiscal year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th will be paid a $1.44 dividend. This is an increase from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date is Monday, February 10th. This represents a $5.76 annualized dividend and a dividend yield of 3.29%. Blackstone’s dividend payout ratio (DPR) is presently 94.77%.

Wall Street Analysts Forecast Growth

BX has been the subject of a number of research reports. Piper Sandler raised their target price on shares of Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a report on Monday, December 23rd. JPMorgan Chase & Co. boosted their target price on Blackstone from $149.00 to $154.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Evercore ISI lifted their price target on Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Wells Fargo & Company dropped their target price on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. Finally, TD Cowen upgraded shares of Blackstone from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $149.00 to $230.00 in a research report on Monday, December 9th. 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.com, the company has a consensus rating of “Hold” and an average target price of $172.38.

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.