JBR Co Financial Management Inc Has $3.08 Million Stock Position in Blackstone Inc. (NYSE:BX)

JBR Co Financial Management Inc decreased its position in Blackstone Inc. (NYSE:BX) by 1.8% in the 4th quarter, HoldingsChannel reports. The fund owned 17,846 shares of the asset manager’s stock after selling 325 shares during the period. Blackstone makes up about 1.9% of JBR Co Financial Management Inc’s investment portfolio, making the stock its 12th biggest holding. JBR Co Financial Management Inc’s holdings in Blackstone were worth $3,077,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Glen Eagle Advisors LLC grew 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 valued at $498,000 after purchasing an additional 59 shares during the period. Avidian Wealth Enterprises LLC grew its position in Blackstone by 0.4% during the 4th quarter. Avidian Wealth Enterprises LLC now owns 16,184 shares of the asset manager’s stock worth $2,790,000 after acquiring an additional 59 shares during the last quarter. Investmark Advisory Group LLC grew its position in Blackstone by 2.4% during the 3rd 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 during the last quarter. Capital Advisors Ltd. LLC grew its position in Blackstone by 2.3% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 2,787 shares of the asset manager’s stock worth $427,000 after acquiring an additional 62 shares during the last quarter. Finally, Fidelis Capital Partners LLC grew its position in Blackstone by 2.7% during the 3rd quarter. Fidelis Capital Partners LLC now owns 2,374 shares of the asset manager’s stock worth $396,000 after acquiring an additional 62 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on BX. TD Cowen upgraded Blackstone from a “hold” rating to a “buy” rating and increased their price target for the stock from $149.00 to $230.00 in a research report on Monday, December 9th. Wells Fargo & Company decreased their price objective on Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. Piper Sandler increased their price objective on Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a research report on Monday, December 23rd. Citigroup reiterated a “hold” rating on shares of Blackstone in a research report on Friday, February 7th. Finally, UBS Group increased their price objective on Blackstone from $170.00 to $180.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Blackstone currently has an average rating of “Hold” and a consensus price target of $172.38.

Blackstone Stock Performance

Shares of Blackstone stock opened at $158.21 on Friday. The stock’s fifty day simple moving average is $173.58 and its 200 day simple moving average is $165.48. Blackstone Inc. has a 12 month low of $115.82 and a 12 month high of $200.96. The company has a market capitalization of $114.23 billion, a PE ratio of 43.58, a PEG ratio of 1.07 and a beta of 1.53. 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 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, research analysts predict that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were paid a $1.44 dividend. This is an increase from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date was Monday, February 10th. This represents a $5.76 annualized dividend and a dividend yield of 3.64%. Blackstone’s dividend payout ratio (DPR) is currently 158.68%.

Insider Buying and Selling at Blackstone

In related news, Director Ruth Porat acquired 301 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was bought at an average price of $164.85 per share, for a total transaction of $49,619.85. Following the acquisition, the director now directly 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 Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.00% of the company’s stock.

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.