Blackstone Inc. (NYSE:BX) Holdings Reduced by Dudley Capital Management LLC

Dudley Capital Management LLC cut its holdings in shares of Blackstone Inc. (NYSE:BX) by 2.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,425 shares of the asset manager’s stock after selling 579 shares during the period. Blackstone makes up 2.1% of Dudley Capital Management LLC’s portfolio, making the stock its 10th biggest position. Dudley Capital Management LLC’s holdings in Blackstone were worth $4,211,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Glen Eagle Advisors LLC lifted its holdings in shares of Blackstone by 1.8% in the 3rd quarter. Glen Eagle Advisors LLC now owns 3,251 shares of the asset manager’s stock worth $498,000 after buying an additional 59 shares during the period. Avidian Wealth Enterprises LLC increased its position 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 worth $2,790,000 after purchasing an additional 59 shares in the last quarter. Investmark Advisory Group LLC boosted its holdings in Blackstone by 2.4% in the third quarter. Investmark Advisory Group LLC now owns 2,608 shares of the asset manager’s stock worth $399,000 after acquiring an additional 60 shares in the last quarter. McIlrath & Eck LLC increased its stake in Blackstone by 6.5% during the 3rd quarter. McIlrath & Eck LLC now owns 1,019 shares of the asset manager’s stock valued at $156,000 after purchasing an additional 62 shares in the last quarter. Finally, McAdam LLC increased its position in shares of Blackstone by 3.9% in the 4th 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. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Trading Up 2.6 %

Shares of NYSE BX opened at $152.13 on Tuesday. The stock has a fifty day simple moving average of $163.26 and a 200-day simple moving average of $167.59. Blackstone Inc. has a twelve month low of $115.82 and a twelve month high of $200.96. The stock has a market capitalization of $110.97 billion, a PE ratio of 41.91, a PEG ratio of 1.07 and a beta of 1.55. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61.

Blackstone (NYSE:BX) last issued its quarterly earnings results on Thursday, January 30th. The asset manager reported $1.69 EPS for the quarter, beating the consensus estimate of $1.50 by $0.19. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. On average, equities analysts forecast that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were given a $1.44 dividend. The ex-dividend date was Monday, February 10th. 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 3.79%. Blackstone’s dividend payout ratio is currently 158.68%.

Insider Buying and Selling at Blackstone

In other Blackstone news, Director Ruth Porat bought 301 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were acquired at an average price of $164.85 per share, with a total value of $49,619.85. Following the transaction, the director now owns 36,829 shares of the company’s stock, valued at approximately $6,071,260.65. The trade was a 0.82 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on BX. JPMorgan Chase & Co. upped their target price on Blackstone from $149.00 to $154.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Citigroup reaffirmed a “hold” rating on shares of Blackstone in a report on Friday, February 7th. Keefe, Bruyette & Woods lifted their target price 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. Piper Sandler lifted their price target on Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a research note on Monday, December 23rd. Finally, BMO Capital Markets upped their price objective on shares of Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a research note on Thursday, December 19th. Twelve research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Blackstone currently has a consensus rating of “Hold” and a consensus price target of $171.13.

Blackstone 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.