Blackstone Inc. (NYSE:BX) is Community Bank & Trust Waco Texas’ 4th Largest Position

Community Bank & Trust Waco Texas lowered its position in Blackstone Inc. (NYSE:BX) by 0.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 76,460 shares of the asset manager’s stock after selling 612 shares during the quarter. Blackstone accounts for about 3.0% of Community Bank & Trust Waco Texas’ investment portfolio, making the stock its 4th biggest position. Community Bank & Trust Waco Texas’ holdings in Blackstone were worth $13,183,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. Bangor Savings Bank boosted its stake in Blackstone by 187.5% in the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock worth $28,000 after purchasing an additional 105 shares during the period. Hager Investment Management Services LLC bought a new position in shares of Blackstone during the 4th quarter valued at $28,000. Berbice Capital Management LLC bought a new position in shares of Blackstone during the 4th quarter valued at $34,000. Comprehensive Financial Planning Inc. PA bought a new stake in Blackstone during the 4th quarter valued at approximately $34,000. Finally, Kieckhefer Group LLC acquired a new stake in shares of Blackstone in the fourth quarter worth $39,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Trading Down 1.0 %

NYSE BX opened at $168.52 on Tuesday. 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 $121.67 billion, a price-to-earnings ratio of 46.42, a PEG ratio of 1.13 and a beta of 1.53. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67. The stock’s 50 day moving average price is $178.36 and its two-hundred day moving average price is $163.80.

Blackstone (NYSE:BX) last announced its quarterly earnings data 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%. As a group, analysts anticipate that Blackstone Inc. will post 5.88 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Monday, February 10th will be issued a dividend of $1.44 per share. The ex-dividend date of this dividend is 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 3.42%. Blackstone’s payout ratio is presently 94.77%.

Wall Street Analyst Weigh In

Several brokerages recently commented on BX. UBS Group raised their target price 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 raised their target price on Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a research report on Monday, December 23rd. Evercore ISI lifted their price objective on Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Bank of America lifted their price objective on Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a report on Friday, October 18th. Finally, The Goldman Sachs Group lifted their price objective on Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Thirteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $172.38.

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.