LWM Advisory Services LLC Sells 136 Shares of Blackstone Inc. (NYSE:BX)

LWM Advisory Services LLC cut its stake in Blackstone Inc. (NYSE:BX) by 4.1% in the 4th quarter, Holdings Channel reports. The firm owned 3,171 shares of the asset manager’s stock after selling 136 shares during the period. LWM Advisory Services LLC’s holdings in Blackstone were worth $547,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in BX. McAdam LLC bought a new position in shares of Blackstone in the 3rd quarter worth about $249,000. Assenagon Asset Management S.A. boosted its holdings in shares of Blackstone by 8.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 17,555 shares of the asset manager’s stock valued at $2,688,000 after acquiring an additional 1,425 shares during the last quarter. Dakota Wealth Management boosted its holdings in shares of Blackstone by 2.6% during the 3rd quarter. Dakota Wealth Management now owns 32,557 shares of the asset manager’s stock valued at $4,985,000 after acquiring an additional 816 shares during the last quarter. Ballentine Partners LLC boosted its holdings in shares of Blackstone by 25.9% during the 3rd quarter. Ballentine Partners LLC now owns 11,718 shares of the asset manager’s stock valued at $1,794,000 after acquiring an additional 2,413 shares during the last quarter. Finally, Elwood & Goetz Wealth Advisory Group LLC purchased a new stake in shares of Blackstone during the 3rd quarter valued at about $361,000. 70.00% of the stock is currently owned by institutional investors.

Blackstone Trading Down 3.5 %

Blackstone stock opened at $158.21 on Friday. The stock has a market cap of $114.23 billion, a P/E ratio of 43.58, a PEG ratio of 1.07 and a beta of 1.53. 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 1 year low of $115.82 and a 1 year high of $200.96. The firm’s 50 day moving average price is $173.58 and its 200-day moving average price is $165.48.

Blackstone (NYSE:BX) last released its quarterly earnings data 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 net margin of 20.99% and a return on equity of 19.58%. On average, equities analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BX. UBS Group raised their price target on shares of Blackstone from $170.00 to $180.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Piper Sandler raised their price objective on shares of Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a report on Monday, December 23rd. Citigroup reissued a “hold” rating on shares of Blackstone in a report on Friday, February 7th. Barclays reissued an “equal weight” rating on shares of Blackstone in a report on Friday, February 7th. Finally, StockNews.com downgraded shares of Blackstone from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Thirteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Blackstone presently has a consensus rating of “Hold” and a consensus price target of $172.38.

Insider Activity at Blackstone

In other Blackstone news, Director Ruth Porat bought 301 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was purchased at an average cost of $164.85 per share, with a total value of $49,619.85. Following the completion of the acquisition, the director now owns 36,829 shares in the company, valued at $6,071,260.65. This trade represents a 0.82 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is currently 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.