Opal Wealth Advisors LLC Has $374,000 Holdings in Blackstone Inc. (NYSE:BX)

Opal Wealth Advisors LLC lessened its stake in Blackstone Inc. (NYSE:BX) by 16.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,170 shares of the asset manager’s stock after selling 412 shares during the quarter. Opal Wealth Advisors LLC’s holdings in Blackstone were worth $374,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in BX. Bangor Savings Bank boosted its holdings 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 last quarter. Hager Investment Management Services LLC acquired a new position in Blackstone during the fourth quarter worth $28,000. Berbice Capital Management LLC acquired a new position in Blackstone during the fourth quarter worth $34,000. Comprehensive Financial Planning Inc. PA acquired a new position in Blackstone during the fourth quarter worth $34,000. Finally, Raleigh Capital Management Inc. lifted its stake in Blackstone by 32.1% in the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock valued at $39,000 after acquiring an additional 62 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Trading Down 2.5 %

Shares of Blackstone stock opened at $170.11 on Monday. The company has a market capitalization of $122.82 billion, a price-to-earnings ratio of 46.86, a PEG ratio of 1.13 and a beta of 1.53. 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 12-month low of $115.82 and a 12-month high of $200.96. The firm’s 50-day moving average price is $178.36 and its two-hundred day moving average price is $163.62.

Blackstone (NYSE:BX) last announced 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 net margin of 20.99% and a return on equity of 19.58%. On average, analysts forecast that Blackstone Inc. will post 5.88 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th will be paid a $1.44 dividend. This is an increase from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date of this dividend is Monday, February 10th. Blackstone’s dividend payout ratio (DPR) is presently 94.77%.

Wall Street Analyst Weigh In

A number of analysts have commented on BX shares. Barclays cut their price target on shares of Blackstone from $192.00 to $186.00 and set an “equal weight” rating for the company in a research note on Friday, January 31st. Deutsche Bank Aktiengesellschaft increased their price target on shares of Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a research note on Monday, November 11th. TD Cowen raised shares of Blackstone from a “hold” rating to a “buy” rating and increased their price objective for the company from $149.00 to $230.00 in a research report on Monday, December 9th. Keefe, Bruyette & Woods increased their price objective on shares of Blackstone from $174.00 to $177.00 and gave the company a “market perform” rating in a research report on Friday, January 31st. Finally, StockNews.com lowered shares of Blackstone from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Thirteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $172.38.

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.