Naples Global Advisors LLC Reduces Stock Holdings in Blackstone Inc. (NYSE:BX)

Naples Global Advisors LLC lessened its holdings in Blackstone Inc. (NYSE:BX) by 1.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 42,423 shares of the asset manager’s stock after selling 675 shares during the quarter. Naples Global Advisors LLC’s holdings in Blackstone were worth $7,315,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Bangor Savings Bank lifted its position in Blackstone by 187.5% during the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock worth $28,000 after acquiring an additional 105 shares during the period. Hager Investment Management Services LLC purchased a new stake in Blackstone in the fourth quarter valued at approximately $28,000. Berbice Capital Management LLC acquired a new position in Blackstone in the 4th quarter worth approximately $34,000. Comprehensive Financial Planning Inc. PA acquired a new stake in Blackstone during the 4th quarter valued at approximately $34,000. Finally, Raleigh Capital Management Inc. increased its stake in shares of Blackstone by 32.1% in the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 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 2.4 %

NYSE BX opened at $160.90 on Thursday. Blackstone Inc. has a one year low of $115.82 and a one year high of $200.96. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67. The business has a fifty day moving average price of $177.56 and a 200 day moving average price of $164.16. The company has a market cap of $116.17 billion, a P/E ratio of 44.33, a P/E/G ratio of 1.13 and a beta of 1.53.

Blackstone (NYSE:BX) last posted its quarterly earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share 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 anticipate that Blackstone Inc. will post 5.88 EPS for the current fiscal year.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th will be issued a $1.44 dividend. This is a boost from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 annualized dividend and a yield of 3.58%. The ex-dividend date of this dividend is Monday, February 10th. Blackstone’s dividend payout ratio is presently 94.77%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Barclays lowered their price target on shares of Blackstone from $192.00 to $186.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. The Goldman Sachs Group raised their target price on Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. UBS Group raised their price objective on shares of Blackstone from $170.00 to $180.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Cowen reaffirmed a “hold” rating on shares of Blackstone in a report on Friday, October 18th. Finally, JPMorgan Chase & Co. raised their price target on shares of Blackstone from $149.00 to $154.00 and gave the company a “neutral” 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target 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.