Catalyst Capital Advisors LLC Sells 81 Shares of Blackstone Inc. (NYSE:BX)

Catalyst Capital Advisors LLC decreased its position in Blackstone Inc. (NYSE:BX) by 18.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 363 shares of the asset manager’s stock after selling 81 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in Blackstone were worth $63,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in BX. Exchange Traded Concepts LLC boosted its position in Blackstone by 2,188.2% during the third quarter. Exchange Traded Concepts LLC now owns 1,167 shares of the asset manager’s stock worth $179,000 after purchasing an additional 1,116 shares during the period. First Citizens Bank & Trust Co. bought a new stake in Blackstone during the third quarter worth approximately $227,000. Resonant Capital Advisors LLC bought a new stake in Blackstone during the third quarter worth approximately $211,000. OLD National Bancorp IN boosted its position in Blackstone by 14.2% during the third quarter. OLD National Bancorp IN now owns 6,446 shares of the asset manager’s stock worth $987,000 after purchasing an additional 800 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its position in Blackstone by 50.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 144,781 shares of the asset manager’s stock worth $22,170,000 after purchasing an additional 48,601 shares during the period. Institutional investors own 70.00% of the company’s stock.

Blackstone Stock Performance

Blackstone stock opened at $166.59 on Wednesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71. The stock has a fifty day moving average price of $175.69 and a two-hundred day moving average price of $164.79. Blackstone Inc. has a 52-week low of $115.82 and a 52-week high of $200.96. The firm has a market capitalization of $120.28 billion, a P/E ratio of 45.89, a P/E/G ratio of 1.13 and a beta of 1.53.

Blackstone (NYSE:BX) last announced its earnings results on Thursday, January 30th. The asset manager reported $1.69 EPS for the quarter, topping the consensus estimate 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, analysts anticipate that Blackstone Inc. will post 5.88 EPS for the current fiscal year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 10th were issued a $1.44 dividend. This is a boost from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.76 annualized dividend and a yield of 3.46%. Blackstone’s dividend payout ratio (DPR) is currently 94.77%.

Wall Street Analyst Weigh In

BX has been the subject of a number of research analyst reports. Citigroup upped their price target on Blackstone from $170.00 to $190.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. UBS Group upped their price target on Blackstone from $170.00 to $180.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft upped their price target on Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Wells Fargo & Company cut their price target on Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. upped their target price on Blackstone from $149.00 to $154.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Thirteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Blackstone presently has an average rating of “Hold” and an average target price of $172.38.

About Blackstone

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.