Gladstone Institutional Advisory LLC Sells 218 Shares of Blackstone Inc. (NYSE:BX)

Gladstone Institutional Advisory LLC lowered its stake in shares of Blackstone Inc. (NYSE:BX) by 3.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,012 shares of the asset manager’s stock after selling 218 shares during the quarter. Gladstone Institutional Advisory LLC’s holdings in Blackstone were worth $1,037,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of BX. Exchange Traded Concepts LLC increased its stake in Blackstone by 2,188.2% during the third quarter. Exchange Traded Concepts LLC now owns 1,167 shares of the asset manager’s stock valued at $179,000 after acquiring an additional 1,116 shares during the period. CX Institutional increased its position in shares of Blackstone by 4.8% during the third quarter. CX Institutional now owns 2,663 shares of the asset manager’s stock valued at $408,000 after purchasing an additional 122 shares during the period. Creative Planning boosted its stake in Blackstone by 4.2% during the third quarter. Creative Planning now owns 237,936 shares of the asset manager’s stock worth $36,435,000 after buying an additional 9,668 shares in the last quarter. Asset Dedication LLC increased its holdings in Blackstone by 18.9% in the 3rd quarter. Asset Dedication LLC now owns 898 shares of the asset manager’s stock valued at $138,000 after buying an additional 143 shares during the period. Finally, Vontobel Holding Ltd. lifted its holdings in shares of Blackstone by 125.0% during the 3rd quarter. Vontobel Holding Ltd. now owns 27,688 shares of the asset manager’s stock worth $4,240,000 after acquiring an additional 15,384 shares during the period. 70.00% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

BX has been the subject of a number of analyst reports. StockNews.com cut shares of Blackstone from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. UBS Group boosted their price target on Blackstone from $170.00 to $180.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. BMO Capital Markets increased their price objective on Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a research note on Thursday, December 19th. The Goldman Sachs Group upped their target price on shares of Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Blackstone from $149.00 to $154.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Thirteen research 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.com, Blackstone has a consensus rating of “Hold” and a consensus price target of $172.38.

Blackstone Trading Down 0.3 %

BX stock opened at $160.40 on Friday. 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 twelve month low of $115.82 and a twelve month high of $200.96. The company has a market cap of $115.81 billion, a P/E ratio of 44.19, a PEG ratio of 1.13 and a beta of 1.53. The business has a fifty day moving average of $177.07 and a 200-day moving average of $164.14.

Blackstone (NYSE:BX) last released its 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 net margin of 20.99% and a return on equity of 19.58%. As a group, equities research analysts expect that Blackstone Inc. will post 5.88 EPS for the current year.

Blackstone Increases Dividend

The firm also recently announced 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 a boost from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date is Monday, February 10th. This represents a $5.76 annualized dividend and a dividend yield of 3.59%. Blackstone’s payout ratio is presently 94.77%.

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.