Doheny Asset Management CA Has $250,000 Stake in Blackstone Inc. (NYSE:BX)

Doheny Asset Management CA trimmed its position in shares of Blackstone Inc. (NYSE:BX) by 15.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,450 shares of the asset manager’s stock after selling 275 shares during the period. Doheny Asset Management CA’s holdings in Blackstone were worth $250,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. OVERSEA CHINESE BANKING Corp Ltd acquired a new position in shares of Blackstone in the third quarter valued at $245,000. Aptus Capital Advisors LLC grew its stake in shares of Blackstone by 18.1% in the third quarter. Aptus Capital Advisors LLC now owns 8,388 shares of the asset manager’s stock valued at $1,284,000 after acquiring an additional 1,284 shares in the last quarter. Empower Advisory Group LLC grew its stake in shares of Blackstone by 55.5% in the third quarter. Empower Advisory Group LLC now owns 3,469 shares of the asset manager’s stock valued at $531,000 after acquiring an additional 1,238 shares in the last quarter. Plato Investment Management Ltd grew its stake in shares of Blackstone by 136.4% in the third quarter. Plato Investment Management Ltd now owns 759 shares of the asset manager’s stock valued at $116,000 after acquiring an additional 438 shares in the last quarter. Finally, Huntington National Bank grew its stake in shares of Blackstone by 1.9% in the third quarter. Huntington National Bank now owns 24,451 shares of the asset manager’s stock valued at $3,744,000 after acquiring an additional 452 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Stock Performance

NYSE:BX opened at $141.01 on Friday. The company has a fifty day moving average of $165.90 and a 200-day moving average of $166.84. The firm has a market capitalization of $102.86 billion, a P/E ratio of 38.85, a P/E/G ratio of 1.07 and a beta of 1.55. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. Blackstone Inc. has a twelve month low of $115.82 and a twelve month high of $200.96.

Blackstone (NYSE:BX) last released its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 earnings per share 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%. As a group, sell-side analysts anticipate that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were paid a dividend of $1.44 per share. This represents a $5.76 dividend on an annualized basis and a yield of 4.08%. The ex-dividend date was Monday, February 10th. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s payout ratio is 158.68%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Keefe, Bruyette & Woods upped their price target on shares of Blackstone from $174.00 to $177.00 and gave the company a “market perform” rating in a research note on Friday, January 31st. StockNews.com downgraded shares of Blackstone from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. JPMorgan Chase & Co. raised their price target on shares of Blackstone from $149.00 to $154.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Wells Fargo & Company cut 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, Piper Sandler lifted their target price on shares of Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a research report on Monday, December 23rd. 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 price target of $172.38.

Insiders Place Their Bets

In related news, Director Ruth Porat purchased 301 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were bought at an average cost of $164.85 per share, with a total value of $49,619.85. Following the acquisition, the director now owns 36,829 shares of the company’s stock, valued at $6,071,260.65. This represents a 0.82 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 1.00% of the company’s stock.

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.