Blackstone Inc. (NYSE:BX) Shares Sold by Schrum Private Wealth Management LLC

Schrum Private Wealth Management LLC cut its position in Blackstone Inc. (NYSE:BX) by 21.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,929 shares of the asset manager’s stock after selling 803 shares during the period. Schrum Private Wealth Management LLC’s holdings in Blackstone were worth $505,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Van ECK Associates Corp increased its position in Blackstone by 19.4% in the 3rd quarter. Van ECK Associates Corp now owns 20,094 shares of the asset manager’s stock valued at $3,355,000 after acquiring an additional 3,271 shares during the period. Robeco Institutional Asset Management B.V. raised its holdings in shares of Blackstone by 27.5% in the third quarter. Robeco Institutional Asset Management B.V. now owns 17,438 shares of the asset manager’s stock worth $2,670,000 after acquiring an additional 3,762 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new stake in shares of Blackstone in the third quarter valued at $68,000. Pittenger & Anderson Inc. grew its stake in shares of Blackstone by 4.5% during the 3rd quarter. Pittenger & Anderson Inc. now owns 14,970 shares of the asset manager’s stock valued at $2,292,000 after buying an additional 645 shares during the period. Finally, JFG Wealth Management LLC boosted its holdings in Blackstone by 11.4% in the third quarter. JFG Wealth Management LLC now owns 2,356 shares of the asset manager’s stock valued at $361,000 after acquiring an additional 242 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company lowered their target price on Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. TD Cowen upgraded Blackstone from a “hold” rating to a “buy” rating and boosted their price target for the stock from $149.00 to $230.00 in a research report on Monday, December 9th. UBS Group reiterated a “neutral” rating on shares of Blackstone in a report on Monday. Citigroup reissued a “hold” rating on shares of Blackstone in a research note on Friday, February 7th. Finally, JPMorgan Chase & Co. lifted their price target on Blackstone from $149.00 to $154.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Thirteen research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Blackstone presently has a consensus rating of “Hold” and an average price target of $172.38.

Blackstone Price Performance

Shares of NYSE BX opened at $152.08 on Thursday. The business has a fifty day moving average price of $170.52 and a two-hundred day moving average price of $166.84. Blackstone Inc. has a fifty-two week low of $115.82 and a fifty-two week high of $200.96. The stock has a market capitalization of $109.80 billion, a PE ratio of 41.90, a P/E/G ratio of 1.07 and a beta of 1.55. 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 (NYSE:BX) last issued its earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share 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, equities analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th were paid a $1.44 dividend. This is a positive change 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 3.79%. Blackstone’s dividend payout ratio is presently 158.68%.

Insider Activity

In other Blackstone news, Director Ruth Porat acquired 301 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were bought at an average price of $164.85 per share, for a total transaction of $49,619.85. Following the completion of the transaction, the director now owns 36,829 shares of the company’s stock, valued at approximately $6,071,260.65. This represents a 0.82 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.00% of the stock is currently owned by corporate 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.