JBR Co Financial Management Inc Cuts Position in Blackstone Inc. (NYSE:BX)

JBR Co Financial Management Inc reduced its stake in shares of Blackstone Inc. (NYSE:BX) by 1.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 17,846 shares of the asset manager’s stock after selling 325 shares during the quarter. Blackstone accounts for approximately 1.9% of JBR Co Financial Management Inc’s holdings, making the stock its 12th largest holding. JBR Co Financial Management Inc’s holdings in Blackstone were worth $3,077,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Glen Eagle Advisors LLC raised its stake 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 in the last quarter. Avidian Wealth Enterprises LLC raised its stake in shares of Blackstone by 0.4% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 16,184 shares of the asset manager’s stock worth $2,790,000 after buying an additional 59 shares in the last quarter. Investmark Advisory Group LLC raised its position 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 worth $399,000 after purchasing an additional 60 shares during the period. Capital Advisors Ltd. LLC raised its position in shares of Blackstone by 2.3% during the third quarter. Capital Advisors Ltd. LLC now owns 2,787 shares of the asset manager’s stock worth $427,000 after purchasing an additional 62 shares during the period. Finally, Fidelis Capital Partners LLC raised its position in shares of Blackstone by 2.7% during the third quarter. Fidelis Capital Partners LLC now owns 2,374 shares of the asset manager’s stock worth $396,000 after purchasing an additional 62 shares during the period. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Blackstone Stock Performance

Shares of NYSE BX opened at $158.21 on Friday. The business’s 50-day moving average price is $173.58 and its two-hundred day moving average price is $165.48. 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 company has a market capitalization of $114.23 billion, a P/E ratio of 43.58, a price-to-earnings-growth ratio of 1.07 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, topping 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%. Analysts anticipate that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 10th were given a dividend of $1.44 per share. This represents a $5.76 annualized dividend and a dividend yield of 3.64%. The ex-dividend date of this dividend was Monday, February 10th. This is a boost from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s payout ratio is currently 158.68%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BX. StockNews.com lowered Blackstone from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. BMO Capital Markets lifted their price target on Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a report on Thursday, December 19th. Citigroup reiterated a “hold” rating on shares of Blackstone in a report on Friday, February 7th. Wells Fargo & Company lowered their price target on Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. Finally, TD Cowen upgraded Blackstone from a “hold” rating to a “buy” rating and lifted their price target for the company from $149.00 to $230.00 in a report on Monday, December 9th. Thirteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $172.38.

Insider Buying and Selling

In other Blackstone news, Director Ruth Porat acquired 301 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was 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. This trade represents a 0.82 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.00% of the stock is owned by insiders.

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.