HHM Wealth Advisors LLC Sells 668 Shares of Blackstone Inc. (NYSE:BX)

HHM Wealth Advisors LLC trimmed its position in Blackstone Inc. (NYSE:BX) by 12.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,635 shares of the asset manager’s stock after selling 668 shares during the period. HHM Wealth Advisors LLC’s holdings in Blackstone were worth $799,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of BX. GPS Wealth Strategies Group LLC increased its stake in Blackstone by 0.7% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 17,884 shares of the asset manager’s stock valued at $3,084,000 after buying an additional 121 shares during the last quarter. CENTRAL TRUST Co increased its position in shares of Blackstone by 0.6% in the fourth quarter. CENTRAL TRUST Co now owns 11,035 shares of the asset manager’s stock valued at $1,903,000 after acquiring an additional 63 shares during the last quarter. McAdam LLC boosted its position in Blackstone by 3.9% during the fourth quarter. McAdam LLC now owns 1,687 shares of the asset manager’s stock valued at $291,000 after purchasing an additional 63 shares during the last quarter. Sutton Place Investors LLC acquired a new position in shares of Blackstone during the 4th quarter worth approximately $232,000. Finally, River Street Advisors LLC boosted its holdings in shares of Blackstone by 3.8% in the 4th quarter. River Street Advisors LLC now owns 15,462 shares of the asset manager’s stock valued at $2,666,000 after buying an additional 573 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Blackstone

In related news, insider John G. Finley sold 42,249 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $175.94, for a total value of $7,433,289.06. Following the completion of the transaction, the insider now owns 387,137 shares of the company’s stock, valued at $68,112,883.78. This represents a 9.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on BX shares. JPMorgan Chase & Co. increased 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. UBS Group lifted their price target on Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Cowen reaffirmed a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. Deutsche Bank Aktiengesellschaft increased 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. Finally, Wells Fargo & Company decreased their price objective on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. Thirteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $171.13.

Blackstone Trading Down 0.5 %

Shares of BX stock opened at $176.92 on Monday. The stock has a 50 day simple moving average of $180.15 and a 200 day simple moving average of $162.43. Blackstone Inc. has a 1 year low of $115.82 and a 1 year high of $200.96. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The stock has a market cap of $127.74 billion, a P/E ratio of 60.80, a price-to-earnings-growth ratio of 1.24 and a beta of 1.53.

Blackstone (NYSE:BX) last issued 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 return on equity of 17.53% and a net margin of 19.46%. On average, research analysts predict that Blackstone Inc. will post 4.41 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th will be given a dividend of $1.44 per share. This is an increase from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 annualized dividend and a yield of 3.26%. The ex-dividend date is Monday, February 10th. Blackstone’s payout ratio is currently 158.68%.

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.