Ingalls & Snyder LLC Sells 292 Shares of Blackstone Inc. (NYSE:BX)

Ingalls & Snyder LLC reduced its position in Blackstone Inc. (NYSE:BX) by 9.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,963 shares of the asset manager’s stock after selling 292 shares during the quarter. Ingalls & Snyder LLC’s holdings in Blackstone were worth $511,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Bangor Savings Bank boosted its stake in shares of Blackstone by 187.5% in the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 105 shares during the last quarter. Hager Investment Management Services LLC bought a new position in Blackstone during the fourth quarter worth $28,000. Berbice Capital Management LLC bought a new position in Blackstone during the fourth quarter worth $34,000. Comprehensive Financial Planning Inc. PA bought a new position in Blackstone during the fourth quarter worth $34,000. Finally, Raleigh Capital Management Inc. boosted its stake in Blackstone by 32.1% during the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after acquiring an additional 62 shares in the last quarter. 70.00% of the stock is owned by institutional investors.

Blackstone Stock Performance

Shares of BX stock opened at $160.40 on Friday. Blackstone Inc. has a one year low of $115.82 and a one year high of $200.96. The firm has a 50-day moving average of $177.07 and a 200-day moving average of $164.14. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71. The company has a market cap of $115.81 billion, a P/E ratio of 44.19, a P/E/G ratio of 1.13 and a beta of 1.53.

Blackstone (NYSE:BX) last posted 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 net margin of 20.99% and a return on equity of 19.58%. Equities research analysts forecast that Blackstone Inc. will post 5.88 EPS for the current fiscal year.

Blackstone Increases Dividend

The business also recently disclosed 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. This represents a $5.76 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date of this dividend is Monday, February 10th. This is an increase from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s dividend payout ratio (DPR) is 94.77%.

Analyst Upgrades and Downgrades

BX has been the topic of several research analyst reports. BMO Capital Markets increased their target price on shares of Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a research note on Thursday, December 19th. Citigroup increased their target price on shares of Blackstone from $170.00 to $190.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. StockNews.com downgraded shares of Blackstone from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Barclays lowered their price objective on shares of Blackstone from $192.00 to $186.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. Finally, UBS Group upped their price objective on shares of Blackstone from $170.00 to $180.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. 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, the company currently has a consensus rating of “Hold” and an average target price of $172.38.

Blackstone 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.