Core Alternative Capital Has $6.01 Million Holdings in Blackstone Inc. (NYSE:BX)

Core Alternative Capital cut its position in Blackstone Inc. (NYSE:BX) by 1.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,860 shares of the asset manager’s stock after selling 481 shares during the quarter. Core Alternative Capital’s holdings in Blackstone were worth $6,011,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Glen Eagle Advisors LLC grew its position 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 buying an additional 59 shares during the last quarter. Investmark Advisory Group LLC boosted its holdings in Blackstone by 2.4% in the third quarter. Investmark Advisory Group LLC now owns 2,608 shares of the asset manager’s stock valued at $399,000 after acquiring an additional 60 shares during the last quarter. Raleigh Capital Management Inc. lifted its position in shares of Blackstone by 32.1% in the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after purchasing an additional 62 shares during the period. Capital Advisors Ltd. LLC increased its position in shares of Blackstone by 2.3% during the third quarter. Capital Advisors Ltd. LLC now owns 2,787 shares of the asset manager’s stock worth $427,000 after buying an additional 62 shares during the period. Finally, Fidelis Capital Partners LLC boosted its position in Blackstone by 2.7% during the third quarter. Fidelis Capital Partners LLC now owns 2,374 shares of the asset manager’s stock valued at $396,000 after acquiring an additional 62 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors.

Blackstone Stock Performance

Shares of BX stock opened at $168.52 on Tuesday. Blackstone Inc. has a one year low of $115.82 and a one year high of $200.96. The company has a market cap of $121.67 billion, a P/E ratio of 46.42, a P/E/G ratio of 1.13 and a beta of 1.53. The firm has a 50-day moving average of $178.36 and a 200-day moving average of $163.80. 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 announced 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%. Equities research analysts forecast that Blackstone Inc. will post 5.88 EPS for the current fiscal year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Monday, February 10th will be given a dividend of $1.44 per share. The ex-dividend date is Monday, February 10th. This represents a $5.76 annualized dividend and a yield of 3.42%. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s dividend payout ratio is presently 158.68%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on BX shares. Bank of America boosted their price objective on Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. TD Cowen raised shares of Blackstone from a “hold” rating to a “buy” rating and increased their target price for the stock from $149.00 to $230.00 in a research note on Monday, December 9th. Wells Fargo & Company cut their price objective on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. Finally, Keefe, Bruyette & Woods upped their price target on Blackstone from $174.00 to $177.00 and gave the stock a “market perform” rating in a research note on Friday, January 31st. Thirteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target 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.