Alaska Wealth Advisors Sells 1,000 Shares of Blackstone Inc. (NYSE:BX)

Alaska Wealth Advisors lessened its stake in Blackstone Inc. (NYSE:BX) by 33.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,000 shares of the asset manager’s stock after selling 1,000 shares during the period. Alaska Wealth Advisors’ holdings in Blackstone were worth $345,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BX. 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 worth $28,000 after buying an additional 105 shares in the last quarter. Hager Investment Management Services LLC acquired a new position in Blackstone during the fourth quarter worth $28,000. Berbice Capital Management LLC bought a new position in shares of Blackstone during the fourth quarter valued at $34,000. Comprehensive Financial Planning Inc. PA bought a new stake in shares of Blackstone in the 4th quarter worth about $34,000. Finally, Raleigh Capital Management Inc. lifted its holdings in Blackstone by 32.1% during the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock valued at $39,000 after purchasing an additional 62 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors.

Blackstone Stock Performance

Shares of BX opened at $164.80 on Wednesday. Blackstone Inc. has a twelve month low of $115.82 and a twelve month 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 firm’s 50 day moving average price is $177.99 and its two-hundred day moving average price is $164.00. The firm has a market cap of $118.98 billion, a P/E ratio of 45.40, a PEG ratio of 1.13 and a beta of 1.53.

Blackstone (NYSE:BX) last released its quarterly earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.19. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. On average, analysts forecast that Blackstone Inc. will post 5.88 EPS for the current fiscal year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th will be given a $1.44 dividend. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date of this dividend is Monday, February 10th. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s payout ratio is currently 94.77%.

Analyst Upgrades and Downgrades

BX has been the topic of a number of research analyst reports. JPMorgan Chase & Co. increased their price target on Blackstone from $149.00 to $154.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. BMO Capital Markets raised 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. The Goldman Sachs Group raised their price objective on shares of Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. TD Cowen upgraded shares of Blackstone from a “hold” rating to a “buy” rating and upped their target price for the stock from $149.00 to $230.00 in a research report on Monday, December 9th. Finally, Bank of America boosted their price objective on shares of Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Blackstone has an average rating of “Hold” and a consensus 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.