Acorn Wealth Advisors LLC Has $2.69 Million Holdings in Blackstone Inc. (NYSE:BX)

Acorn Wealth Advisors LLC lowered its position in shares of Blackstone Inc. (NYSE:BX) by 1.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,619 shares of the asset manager’s stock after selling 309 shares during the period. Blackstone comprises about 1.1% of Acorn Wealth Advisors LLC’s portfolio, making the stock its 20th biggest position. Acorn Wealth Advisors LLC’s holdings in Blackstone were worth $2,693,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Bangor Savings Bank increased its stake in shares of 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 buying an additional 105 shares during the period. Hager Investment Management Services LLC acquired a new position in Blackstone in the 4th quarter valued at approximately $28,000. Centricity Wealth Management LLC acquired a new position in shares of Blackstone during the fourth quarter worth $30,000. Berbice Capital Management LLC bought a new stake in shares of Blackstone in the fourth quarter worth $34,000. Finally, Comprehensive Financial Planning Inc. PA bought a new position in Blackstone during the 4th quarter worth $34,000. 70.00% of the stock is currently owned by institutional investors.

Blackstone Stock Down 0.7 %

Blackstone stock opened at $157.27 on Tuesday. 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 has a market cap of $113.55 billion, a PE ratio of 43.32, a price-to-earnings-growth ratio of 1.07 and a beta of 1.53. Blackstone Inc. has a fifty-two week low of $115.82 and a fifty-two week high of $200.96. The firm’s 50-day simple moving average is $172.96 and its 200 day simple moving average is $165.93.

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, beating 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%. Research analysts predict that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were paid a $1.44 dividend. This represents a $5.76 dividend on an annualized basis and a yield of 3.66%. This is a boost from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date was Monday, February 10th. Blackstone’s payout ratio is presently 158.68%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on BX shares. Wells Fargo & Company decreased their price target 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. Citigroup restated a “hold” rating on shares of Blackstone in a report on Friday, February 7th. Piper Sandler upped their price objective on shares of Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a research note on Monday, December 23rd. TD Cowen upgraded shares of Blackstone from a “hold” rating to a “buy” rating and boosted their target price for the company from $149.00 to $230.00 in a report on Monday, December 9th. Finally, Barclays reiterated an “equal weight” rating on shares of Blackstone in a report on Friday, February 7th. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $172.38.

Insider Transactions at Blackstone

In other news, Director Ruth Porat acquired 301 shares of Blackstone stock in a transaction on Tuesday, February 18th. The stock was acquired at an average cost of $164.85 per share, with a total value of $49,619.85. Following the completion of the acquisition, the director now owns 36,829 shares in the company, valued at approximately $6,071,260.65. This trade represents a 0.82 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.00% of the stock is currently owned by company insiders.

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.