Jacobson & Schmitt Advisors LLC Sells 6,408 Shares of Blackstone Inc. (NYSE:BX)

Jacobson & Schmitt Advisors LLC cut its stake in Blackstone Inc. (NYSE:BX) by 7.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 76,782 shares of the asset manager’s stock after selling 6,408 shares during the period. Blackstone makes up 2.6% of Jacobson & Schmitt Advisors LLC’s investment portfolio, making the stock its 16th largest position. Jacobson & Schmitt Advisors LLC’s holdings in Blackstone were worth $13,239,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Bangor Savings Bank increased its stake in Blackstone by 187.5% during the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock worth $28,000 after purchasing an additional 105 shares in the last quarter. Hager Investment Management Services LLC bought a new stake in Blackstone during the 4th quarter worth approximately $28,000. Berbice Capital Management LLC bought a new stake in Blackstone during the 4th quarter worth approximately $34,000. Comprehensive Financial Planning Inc. PA bought a new stake in Blackstone during the 4th quarter worth approximately $34,000. Finally, Roxbury Financial LLC acquired a new position in Blackstone during the 4th quarter worth approximately $34,000. 70.00% of the stock is owned by institutional investors.

Blackstone Stock Up 0.0 %

BX opened at $166.81 on Thursday. Blackstone Inc. has a 1-year low of $115.82 and a 1-year high of $200.96. The stock’s fifty day simple moving average is $174.71 and its 200 day simple moving average is $165.04. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. The stock has a market cap of $120.44 billion, a PE ratio of 45.95, a price-to-earnings-growth ratio of 1.07 and a beta of 1.53.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 earnings per share 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, research analysts expect that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were given a dividend of $1.44 per share. This is a boost from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date was Monday, February 10th. This represents a $5.76 annualized dividend and a yield of 3.45%. Blackstone’s dividend payout ratio (DPR) is presently 158.68%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BX. Wells Fargo & Company reduced their price target on Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. Piper Sandler upped their price target on Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a research report on Monday, December 23rd. Keefe, Bruyette & Woods upped their price target on Blackstone from $174.00 to $177.00 and gave the stock a “market perform” rating in a research report on Friday, January 31st. TD Cowen raised Blackstone from a “hold” rating to a “buy” rating and upped their price target for the stock from $149.00 to $230.00 in a research report on Monday, December 9th. Finally, UBS Group increased their price objective on Blackstone from $170.00 to $180.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target 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.