Pathway Financial Advisers LLC Trims Stock Position in Blackstone Inc. (NYSE:BX)

Pathway Financial Advisers LLC trimmed its position in Blackstone Inc. (NYSE:BX) by 99.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,552 shares of the asset manager’s stock after selling 234,901 shares during the period. Pathway Financial Advisers LLC’s holdings in Blackstone were worth $268,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Bangor Savings Bank raised its holdings in shares of Blackstone by 187.5% in the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 105 shares in the last quarter. Hager Investment Management Services LLC bought a new position in shares of Blackstone in the fourth quarter worth approximately $28,000. Berbice Capital Management LLC bought a new stake in Blackstone during the fourth quarter valued at approximately $34,000. Comprehensive Financial Planning Inc. PA bought a new position in shares of Blackstone in the 4th quarter worth $34,000. Finally, Kieckhefer Group LLC bought a new stake in shares of Blackstone during the 4th quarter worth $39,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Trading Down 0.3 %

BX opened at $160.40 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71. Blackstone Inc. has a one year low of $115.82 and a one year high of $200.96. The firm has a market capitalization of $115.81 billion, a price-to-earnings ratio of 44.19, a PEG ratio of 1.13 and a beta of 1.53. The business has a 50 day simple moving average of $177.07 and a two-hundred day simple moving average of $164.14.

Blackstone (NYSE:BX) last issued its quarterly earnings data 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%. Analysts predict that Blackstone Inc. will post 5.88 EPS for the current year.

Blackstone Increases Dividend

The company 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 dividend of $1.44 per share. This is an increase from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend is Monday, February 10th. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.59%. Blackstone’s dividend payout ratio is 94.77%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. raised their price target on Blackstone from $149.00 to $154.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. TD Cowen upgraded Blackstone from a “hold” rating to a “buy” rating and boosted their target price for the stock from $149.00 to $230.00 in a research report on Monday, December 9th. Keefe, Bruyette & Woods lifted their price target on shares of Blackstone from $174.00 to $177.00 and gave the stock a “market perform” rating in a research note on Friday, January 31st. Deutsche Bank Aktiengesellschaft upped their price objective 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. Finally, Citigroup boosted their price target on shares of Blackstone from $170.00 to $190.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Thirteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price 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.