Jacobi Capital Management LLC Has $1.56 Million Stake in Blackstone Inc. (NYSE:BX)

Jacobi Capital Management LLC trimmed its position in shares of Blackstone Inc. (NYSE:BX) by 0.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,050 shares of the asset manager’s stock after selling 82 shares during the quarter. Jacobi Capital Management LLC’s holdings in Blackstone were worth $1,560,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the company. Glen Eagle Advisors LLC lifted its stake in shares of Blackstone by 1.8% during the third quarter. Glen Eagle Advisors LLC now owns 3,251 shares of the asset manager’s stock valued at $498,000 after acquiring an additional 59 shares during the period. Avidian Wealth Enterprises LLC lifted its stake in shares of Blackstone by 0.4% during the fourth quarter. Avidian Wealth Enterprises LLC now owns 16,184 shares of the asset manager’s stock valued at $2,790,000 after acquiring an additional 59 shares during the period. Investmark Advisory Group LLC lifted its stake in shares of Blackstone by 2.4% during the third quarter. Investmark Advisory Group LLC now owns 2,608 shares of the asset manager’s stock valued at $399,000 after acquiring an additional 60 shares during the period. McIlrath & Eck LLC lifted its stake in shares of Blackstone by 6.5% during the third quarter. McIlrath & Eck LLC now owns 1,019 shares of the asset manager’s stock valued at $156,000 after acquiring an additional 62 shares during the period. Finally, McAdam LLC lifted its stake in shares of 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 acquiring an additional 63 shares during the period. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Blackstone

In other Blackstone news, Director Ruth Porat acquired 301 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was bought at an average cost of $164.85 per share, with a total value of $49,619.85. Following the completion of the transaction, the director now directly owns 36,829 shares in the company, valued at approximately $6,071,260.65. This represents a 0.82 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on BX shares. Keefe, Bruyette & Woods increased their target price on Blackstone from $174.00 to $177.00 and gave the company a “market perform” rating in a research note on Friday, January 31st. Citigroup reissued a “hold” rating on shares of Blackstone in a research note on Friday, February 7th. BMO Capital Markets increased their target price on Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a research note on Thursday, December 19th. Barclays reissued an “equal weight” rating on shares of Blackstone in a research note on Friday, February 7th. Finally, UBS Group increased their price target on Blackstone from $170.00 to $180.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Thirteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Blackstone currently has a consensus rating of “Hold” and a consensus price target of $172.38.

Blackstone Stock Up 2.3 %

NYSE:BX opened at $161.01 on Friday. 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 company has a market cap of $116.25 billion, a PE ratio of 44.35, a PEG ratio of 1.07 and a beta of 1.53. Blackstone Inc. has a 52-week low of $115.82 and a 52-week high of $200.96. The stock has a 50-day simple moving average of $171.77 and a 200 day simple moving average of $166.46.

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, beating analysts’ consensus estimates of $1.50 by $0.19. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. On average, sell-side analysts expect that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were paid a $1.44 dividend. This represents a $5.76 dividend on an annualized basis and a yield of 3.58%. This is an increase from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date was Monday, February 10th. Blackstone’s dividend payout ratio (DPR) 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.