Bfsg LLC Has $82,000 Stock Position in Blackstone Inc. (NYSE:BX)

Bfsg LLC reduced its stake in Blackstone Inc. (NYSE:BX) by 17.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 476 shares of the asset manager’s stock after selling 100 shares during the quarter. Bfsg LLC’s holdings in Blackstone were worth $82,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. Kestra Investment Management LLC bought a new position in shares of Blackstone during the 4th quarter worth approximately $66,000. Atria Wealth Solutions Inc. increased its stake in Blackstone by 2.5% in the 4th quarter. Atria Wealth Solutions Inc. now owns 48,643 shares of the asset manager’s stock valued at $8,387,000 after buying an additional 1,176 shares during the last quarter. Venturi Wealth Management LLC grew its holdings in shares of Blackstone by 43.4% in the 4th quarter. Venturi Wealth Management LLC now owns 4,088 shares of the asset manager’s stock valued at $705,000 after acquiring an additional 1,237 shares in the last quarter. Citizens & Northern Corp raised its holdings in Blackstone by 2.7% during the fourth quarter. Citizens & Northern Corp now owns 12,807 shares of the asset manager’s stock worth $2,208,000 after acquiring an additional 338 shares in the last quarter. Finally, CIBC Asset Management Inc grew its stake in Blackstone by 1.3% in the fourth quarter. CIBC Asset Management Inc now owns 174,558 shares of the asset manager’s stock valued at $30,097,000 after purchasing an additional 2,189 shares in the last quarter. Institutional investors own 70.00% of the company’s stock.

Blackstone Stock Performance

BX opened at $166.81 on Thursday. The firm has a market cap of $120.44 billion, a P/E ratio of 45.95, a price-to-earnings-growth ratio of 1.07 and a beta of 1.53. The business’s fifty day moving average is $174.71 and its 200-day moving average is $165.04. Blackstone Inc. has a 52-week low of $115.82 and a 52-week high of $200.96. 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 earnings results on Thursday, January 30th. The asset manager reported $1.69 EPS for the quarter, beating the consensus estimate of $1.50 by $0.19. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. Sell-side analysts expect that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th were issued a dividend of $1.44 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.45%. This is a boost from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s payout ratio is 158.68%.

Analysts Set New Price Targets

Several research firms have recently commented on BX. Piper Sandler increased their price objective on Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a report on Monday, December 23rd. Wells Fargo & Company lowered their price objective on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. TD Cowen upgraded Blackstone from a “hold” rating to a “buy” rating and lifted their price target for the stock from $149.00 to $230.00 in a report on Monday, December 9th. Deutsche Bank Aktiengesellschaft raised their price objective on Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Finally, Citigroup increased their price target on Blackstone from $170.00 to $190.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on 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.