John & Kathleen Schreiber Foundation Reduces Stake in Blackstone Inc. (NYSE:BX)

John & Kathleen Schreiber Foundation reduced its position in Blackstone Inc. (NYSE:BX) by 2.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 898,437 shares of the asset manager’s stock after selling 22,303 shares during the period. Blackstone comprises approximately 90.1% of John & Kathleen Schreiber Foundation’s holdings, making the stock its largest position. John & Kathleen Schreiber Foundation’s holdings in Blackstone were worth $154,909,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Sather Financial Group Inc raised its holdings in shares of Blackstone by 202.5% during the third quarter. Sather Financial Group Inc now owns 6,050 shares of the asset manager’s stock valued at $926,000 after purchasing an additional 4,050 shares during the last quarter. Aljian Capital Management LLC bought a new position in shares of Blackstone during the 3rd quarter valued at $1,951,000. Icon Wealth Advisors LLC boosted its stake in shares of Blackstone by 2,185.4% in the 3rd quarter. Icon Wealth Advisors LLC now owns 18,946 shares of the asset manager’s stock worth $2,901,000 after buying an additional 18,117 shares during the last quarter. Wealthcare Capital Partners LLC purchased a new stake in Blackstone during the fourth quarter valued at $2,102,000. Finally, Highland Capital Management LLC boosted its position in Blackstone by 214.2% in the fourth quarter. Highland Capital Management LLC now owns 22,303 shares of the asset manager’s stock worth $3,845,000 after purchasing an additional 15,205 shares during the last quarter. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Ruth Porat acquired 301 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was bought at an average cost of $164.85 per share, with a total value of $49,619.85. Following the completion of the purchase, the director now directly 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is currently owned by company insiders.

Blackstone Stock Up 3.3 %

Shares of BX stock opened at $141.01 on Monday. The stock has a market cap of $102.86 billion, a P/E ratio of 38.85, a PEG ratio of 1.07 and a beta of 1.55. The company’s fifty day simple moving average is $165.90 and its two-hundred day simple moving average is $167.21. 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 52 week low of $115.82 and a 52 week 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 (EPS) for the quarter, topping 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%. Analysts predict that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

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

Wall Street Analyst Weigh In

BX has been the topic of several recent research reports. JPMorgan Chase & Co. increased their price objective on shares of Blackstone from $149.00 to $154.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Citigroup reiterated a “hold” rating on shares of Blackstone in a research note on Friday, February 7th. UBS Group restated a “neutral” rating on shares of Blackstone in a research note on Monday, March 3rd. TD Cowen raised Blackstone from a “hold” rating to a “buy” rating and boosted their price target for the company from $149.00 to $230.00 in a report on Monday, December 9th. Finally, Piper Sandler lifted their price objective on Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a research report on Monday, December 23rd. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Blackstone presently has a consensus rating of “Hold” and a consensus target price of $172.38.

Blackstone Company 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.