JNBA Financial Advisors Cuts Stock Holdings in Blackstone Inc. (NYSE:BX)

JNBA Financial Advisors trimmed its position in shares of Blackstone Inc. (NYSE:BX) by 3.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,272 shares of the asset manager’s stock after selling 87 shares during the quarter. JNBA Financial Advisors’ holdings in Blackstone were worth $392,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BX. Bangor Savings Bank boosted its stake in Blackstone by 187.5% during the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock worth $28,000 after buying an additional 105 shares during the last quarter. Hager Investment Management Services LLC acquired a new position in shares of Blackstone during the 4th quarter valued at about $28,000. Roxbury Financial LLC acquired a new stake in Blackstone during the fourth quarter worth about $34,000. Berbice Capital Management LLC acquired a new position in Blackstone in the 4th quarter valued at about $34,000. Finally, Comprehensive Financial Planning Inc. PA acquired a new stake in shares of Blackstone during the 4th quarter worth approximately $34,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Price Performance

Shares of BX opened at $165.09 on Friday. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. The firm’s fifty day simple moving average is $176.09 and its 200-day simple moving average is $164.28. The firm has a market capitalization of $119.19 billion, a price-to-earnings ratio of 45.48, a PEG ratio of 1.13 and a beta of 1.53. Blackstone Inc. has a twelve month low of $115.82 and a twelve month high of $200.96.

Blackstone (NYSE:BX) last announced its quarterly earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, topping 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%. Equities analysts forecast that Blackstone Inc. will post 5.88 EPS for the current fiscal year.

Blackstone Increases Dividend

The business 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 dividend of $1.44 per share. This represents a $5.76 annualized dividend and a dividend yield of 3.49%. The ex-dividend date is Monday, February 10th. This is an increase 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 subject of several recent analyst reports. JPMorgan Chase & Co. raised their target price on Blackstone from $149.00 to $154.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. StockNews.com cut shares of Blackstone from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. BMO Capital Markets boosted their price target 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. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a report on Monday, November 11th. Finally, Keefe, Bruyette & Woods raised their price target on Blackstone from $174.00 to $177.00 and gave the stock a “market perform” rating in a research report on Friday, January 31st. Thirteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target 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.