Walter & Keenan Wealth Management LLC IN ADV Lowers Position in Blackstone Inc. (NYSE:BX)

Walter & Keenan Wealth Management LLC IN ADV cut its stake in shares of Blackstone Inc. (NYSE:BX) by 8.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,326 shares of the asset manager’s stock after selling 987 shares during the period. Walter & Keenan Wealth Management LLC IN ADV’s holdings in Blackstone were worth $1,780,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in BX. Bangor Savings Bank grew its holdings in Blackstone by 187.5% during the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock worth $28,000 after acquiring an additional 105 shares in the last quarter. Hager Investment Management Services LLC acquired a new stake in shares of Blackstone in the fourth quarter valued at approximately $28,000. Berbice Capital Management LLC purchased a new stake in shares of Blackstone in the fourth quarter valued at about $34,000. Comprehensive Financial Planning Inc. PA acquired a new position in shares of Blackstone in the fourth quarter valued at approximately $34,000. Finally, Raleigh Capital Management Inc. lifted its stake in shares of Blackstone by 32.1% in the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after acquiring an additional 62 shares during the period. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Stock Performance

Shares of NYSE BX opened at $170.11 on Monday. Blackstone Inc. has a 52-week low of $115.82 and a 52-week high of $200.96. The stock has a market capitalization of $122.82 billion, a P/E ratio of 46.86, a P/E/G ratio of 1.13 and a beta of 1.53. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. The firm’s 50-day moving average price is $178.36 and its two-hundred day moving average price is $163.62.

Blackstone (NYSE:BX) last issued its quarterly earnings results on Thursday, January 30th. The asset manager reported $1.69 EPS 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%. As a group, sell-side analysts forecast that Blackstone Inc. will post 5.88 earnings per share for the current year.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th will be issued a dividend of $1.44 per share. This represents a $5.76 annualized dividend and a dividend yield of 3.39%. This is an increase from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date is Monday, February 10th. Blackstone’s dividend payout ratio is currently 94.77%.

Wall Street Analysts Forecast Growth

BX has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft upped their price objective on Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a report on Monday, November 11th. UBS Group lifted their price objective on Blackstone from $170.00 to $180.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Piper Sandler boosted their price target on Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a report on Monday, December 23rd. Keefe, Bruyette & Woods increased their target price on Blackstone from $174.00 to $177.00 and gave the stock a “market perform” rating in a research report on Friday, January 31st. Finally, TD Cowen raised shares of Blackstone from a “hold” rating to a “buy” rating and upped their price target for the stock from $149.00 to $230.00 in a research report on Monday, December 9th. Thirteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus 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.