44 Wealth Management LLC Sells 77 Shares of Blackstone Inc. (NYSE:BX)

44 Wealth Management LLC lowered its stake in Blackstone Inc. (NYSE:BX) by 3.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,044 shares of the asset manager’s stock after selling 77 shares during the quarter. 44 Wealth Management LLC’s holdings in Blackstone were worth $352,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in BX. Glen Eagle Advisors LLC raised its stake in shares of Blackstone by 1.8% during the 3rd quarter. Glen Eagle Advisors LLC now owns 3,251 shares of the asset manager’s stock worth $498,000 after purchasing an additional 59 shares during the period. Avidian Wealth Enterprises LLC raised its stake in shares of Blackstone by 0.4% during the 4th quarter. Avidian Wealth Enterprises LLC now owns 16,184 shares of the asset manager’s stock worth $2,790,000 after purchasing an additional 59 shares during the period. Investmark Advisory Group LLC increased its holdings in Blackstone by 2.4% in the 3rd quarter. Investmark Advisory Group LLC now owns 2,608 shares of the asset manager’s stock worth $399,000 after acquiring an additional 60 shares during the last quarter. Capital Advisors Ltd. LLC raised its stake in Blackstone by 2.3% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 2,787 shares of the asset manager’s stock valued at $427,000 after acquiring an additional 62 shares during the period. Finally, Fidelis Capital Partners LLC raised its stake in Blackstone by 2.7% in the 3rd quarter. Fidelis Capital Partners LLC now owns 2,374 shares of the asset manager’s stock valued at $396,000 after acquiring an additional 62 shares during the period. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Stock Down 3.5 %

Shares of NYSE:BX opened at $158.21 on Friday. Blackstone Inc. has a 1 year low of $115.82 and a 1 year high of $200.96. The company has a market cap of $114.23 billion, a PE ratio of 43.58, a P/E/G ratio of 1.07 and a beta of 1.53. 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’s 50-day moving average is $173.58 and its 200 day moving average is $165.48.

Blackstone (NYSE:BX) last announced its quarterly earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.19. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. Sell-side analysts anticipate that Blackstone Inc. will post 5.87 EPS 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 represents a $5.76 annualized dividend and a yield of 3.64%. This is a boost from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date was Monday, February 10th. Blackstone’s payout ratio is presently 158.68%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on BX shares. Barclays reaffirmed an “equal weight” rating on shares of Blackstone in a report on Friday, February 7th. Piper Sandler raised their price target on Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a report on Monday, December 23rd. TD Cowen raised Blackstone from a “hold” rating to a “buy” rating and raised their price target for the stock from $149.00 to $230.00 in a report on Monday, December 9th. Citigroup reaffirmed a “hold” rating on shares of Blackstone in a report on Friday, February 7th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Thirteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $172.38.

Insider Buying and Selling at Blackstone

In other news, Director Ruth Porat acquired 301 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were acquired at an average cost of $164.85 per share, with a total value of $49,619.85. Following the transaction, the director now owns 36,829 shares in the company, valued at $6,071,260.65. The trade was a 0.82 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.00% of the company’s stock.

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.