Accuvest Global Advisors Decreases Stake in Blackstone Inc. (NYSE:BX)

Accuvest Global Advisors reduced its position in Blackstone Inc. (NYSE:BX) by 8.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 23,109 shares of the asset manager’s stock after selling 2,010 shares during the quarter. Blackstone makes up about 5.6% of Accuvest Global Advisors’ portfolio, making the stock its 7th largest position. Accuvest Global Advisors’ holdings in Blackstone were worth $4,021,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Bangor Savings Bank boosted its position in Blackstone by 187.5% during the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock worth $28,000 after purchasing an additional 105 shares during the period. Hager Investment Management Services LLC bought a new stake in Blackstone in the fourth quarter valued at $28,000. Roxbury Financial LLC bought a new stake in shares of Blackstone during the 4th quarter valued at $34,000. Berbice Capital Management LLC purchased a new position in shares of Blackstone in the 4th quarter worth about $34,000. Finally, Comprehensive Financial Planning Inc. PA bought a new stake in shares of Blackstone during the 4th quarter valued at about $34,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Stock Up 1.1 %

Blackstone stock opened at $166.59 on Wednesday. The stock has a market cap of $120.28 billion, a PE ratio of 45.89, a price-to-earnings-growth ratio of 1.13 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 Inc. has a fifty-two week low of $115.82 and a fifty-two week high of $200.96. The firm’s 50-day simple moving average is $175.23 and its 200 day simple moving average is $165.03.

Blackstone (NYSE:BX) last released its quarterly earnings results on Thursday, January 30th. The asset manager reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.19. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. Research analysts predict that Blackstone Inc. will post 5.88 EPS for the current fiscal year.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 10th were given a dividend of $1.44 per share. This represents a $5.76 annualized dividend and a yield of 3.46%. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date was Monday, February 10th. Blackstone’s payout ratio is 94.77%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. TD Cowen upgraded Blackstone from a “hold” rating to a “buy” rating and increased their price target for the company from $149.00 to $230.00 in a report on Monday, December 9th. JPMorgan Chase & Co. boosted their price target on Blackstone from $149.00 to $154.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Deutsche Bank Aktiengesellschaft upped their price target on Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Keefe, Bruyette & Woods increased their price target on Blackstone from $174.00 to $177.00 and gave the company a “market perform” rating in a research report on Friday, January 31st. Finally, Barclays dropped their price target on Blackstone from $192.00 to $186.00 and set an “equal weight” rating on the stock in a research note on Friday, January 31st. Thirteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average 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.