Blackstone Inc. (NYSE:BX) Holdings Decreased by Leavell Investment Management Inc.

Leavell Investment Management Inc. decreased its holdings in shares of Blackstone Inc. (NYSE:BX) by 0.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 181,666 shares of the asset manager’s stock after selling 1,726 shares during the quarter. Blackstone accounts for approximately 1.5% of Leavell Investment Management Inc.’s holdings, making the stock its 8th biggest position. Leavell Investment Management Inc.’s holdings in Blackstone were worth $31,323,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Bangor Savings Bank grew its stake in Blackstone by 187.5% in the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 105 shares in the last quarter. Hager Investment Management Services LLC purchased a new position in Blackstone in the fourth quarter valued at about $28,000. Berbice Capital Management LLC purchased a new position in Blackstone in the fourth quarter valued at about $34,000. Comprehensive Financial Planning Inc. PA purchased a new position in Blackstone in the fourth quarter valued at about $34,000. Finally, Kieckhefer Group LLC purchased a new position in Blackstone in the fourth quarter valued at about $39,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Analysts Set New Price Targets

BX has been the subject of several recent analyst reports. The Goldman Sachs Group upped their price target on Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. TD Cowen upgraded Blackstone from a “hold” rating to a “buy” rating and upped their price target for the stock from $149.00 to $230.00 in a research note on Monday, December 9th. Barclays decreased their price target on Blackstone from $192.00 to $186.00 and set an “equal weight” rating for the company in a research note on Friday, January 31st. JPMorgan Chase & Co. upped their price target on Blackstone from $149.00 to $154.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Finally, Piper Sandler boosted their price objective on Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a research report on Monday, December 23rd. Thirteen research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $172.38.

Blackstone Trading Down 2.3 %

Blackstone stock opened at $164.80 on Wednesday. The business has a 50 day moving average price of $177.99 and a two-hundred day moving average price of $164.00. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. The stock has a market cap of $118.98 billion, a price-to-earnings ratio of 45.40, a price-to-earnings-growth ratio of 1.13 and a beta of 1.53. Blackstone Inc. has a 12 month low of $115.82 and a 12 month high of $200.96.

Blackstone (NYSE:BX) last posted its quarterly earnings results on Thursday, January 30th. The asset manager reported $1.69 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%. As a group, equities analysts forecast that Blackstone Inc. will post 5.88 EPS for the current year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th will be paid a $1.44 dividend. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 annualized dividend and a dividend yield of 3.50%. The ex-dividend date is Monday, February 10th. Blackstone’s dividend payout ratio is currently 94.77%.

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.