Blackstone Inc. (NYSE:BX) Shares Sold by Kellett Wealth Advisors LLC

Kellett Wealth Advisors LLC decreased its stake in Blackstone Inc. (NYSE:BX) by 14.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,744 shares of the asset manager’s stock after selling 300 shares during the quarter. Kellett Wealth Advisors LLC’s holdings in Blackstone were worth $301,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Glen Eagle Advisors LLC raised its holdings in Blackstone by 1.8% in the 3rd quarter. Glen Eagle Advisors LLC now owns 3,251 shares of the asset manager’s stock worth $498,000 after acquiring an additional 59 shares during the period. Avidian Wealth Enterprises LLC grew its position in shares of Blackstone by 0.4% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 16,184 shares of the asset manager’s stock valued at $2,790,000 after purchasing an additional 59 shares during the last quarter. Investmark Advisory Group LLC lifted its position in shares of Blackstone by 2.4% during the 3rd quarter. Investmark Advisory Group LLC now owns 2,608 shares of the asset manager’s stock worth $399,000 after purchasing an additional 60 shares during the last quarter. Fidelis Capital Partners LLC grew its holdings in Blackstone by 2.7% in the 3rd quarter. Fidelis Capital Partners LLC now owns 2,374 shares of the asset manager’s stock valued at $396,000 after buying an additional 62 shares during the last quarter. Finally, McIlrath & Eck LLC increased its position in Blackstone by 6.5% in the 3rd quarter. McIlrath & Eck LLC now owns 1,019 shares of the asset manager’s stock worth $156,000 after buying an additional 62 shares during the period. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Blackstone

In related news, Director Ruth Porat acquired 301 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was purchased at an average price of $164.85 per share, for a total transaction of $49,619.85. Following the transaction, the director now directly owns 36,829 shares of the company’s stock, valued at approximately $6,071,260.65. This trade represents a 0.82 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.00% of the stock is owned by company insiders.

Blackstone Price Performance

NYSE:BX opened at $157.22 on Wednesday. Blackstone Inc. has a 12 month low of $115.82 and a 12 month high of $200.96. The company’s 50-day moving average price is $172.44 and its two-hundred day moving average price is $166.12. 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 firm has a market cap of $113.51 billion, a PE ratio of 43.31, a price-to-earnings-growth ratio of 1.07 and a beta of 1.53.

Blackstone (NYSE:BX) last issued its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 earnings per share (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%. On average, equities analysts anticipate that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

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

Wall Street Analysts Forecast Growth

BX has been the topic of several research analyst reports. Barclays restated an “equal weight” rating on shares of Blackstone in a research note on Friday, February 7th. Piper Sandler boosted their price objective on shares of Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a report on Monday, December 23rd. StockNews.com cut shares of Blackstone from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. UBS Group upped their price target on Blackstone from $170.00 to $180.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Finally, Citigroup restated a “hold” rating on shares of Blackstone in a research report on Friday, February 7th. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus 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.