Blackstone Inc. (NYSE:BX) is Atlanta Consulting Group Advisors LLC’s 10th Largest Position

Atlanta Consulting Group Advisors LLC reduced its position in Blackstone Inc. (NYSE:BX) by 2.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 27,311 shares of the asset manager’s stock after selling 735 shares during the period. Blackstone makes up approximately 1.7% of Atlanta Consulting Group Advisors LLC’s investment portfolio, making the stock its 10th biggest position. Atlanta Consulting Group Advisors LLC’s holdings in Blackstone were worth $4,709,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SlateStone Wealth LLC boosted its position in Blackstone by 6.1% in the 4th quarter. SlateStone Wealth LLC now owns 4,338 shares of the asset manager’s stock valued at $748,000 after buying an additional 250 shares during the last quarter. GWN Securities Inc. purchased a new position in Blackstone in the 4th quarter valued at about $565,000. Glenview Trust co grew its stake in Blackstone by 4.6% in the fourth quarter. Glenview Trust co now owns 27,065 shares of the asset manager’s stock worth $4,667,000 after purchasing an additional 1,188 shares in the last quarter. Harbour Investments Inc. grew its stake in Blackstone by 15.2% in the fourth quarter. Harbour Investments Inc. now owns 8,309 shares of the asset manager’s stock worth $1,433,000 after purchasing an additional 1,094 shares in the last quarter. Finally, Corient Private Wealth LLC grew its stake in Blackstone by 3.2% in the fourth quarter. Corient Private Wealth LLC now owns 356,099 shares of the asset manager’s stock worth $56,545,000 after purchasing an additional 11,110 shares in the last quarter. 70.00% of the stock is owned by hedge funds and other institutional investors.

Blackstone Stock Performance

BX opened at $141.01 on Monday. The business’s 50 day moving average is $165.90 and its 200-day moving average is $167.21. The stock has a market cap of $102.86 billion, a PE ratio of 38.85, a price-to-earnings-growth ratio of 1.07 and a beta of 1.55. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. Blackstone Inc. has a twelve month low of $115.82 and a twelve month high of $200.96.

Blackstone (NYSE:BX) last issued its quarterly earnings results 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, analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th were given a dividend of $1.44 per share. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date was Monday, February 10th. This represents a $5.76 annualized dividend and a dividend yield of 4.08%. Blackstone’s dividend payout ratio (DPR) is 158.68%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on BX shares. BMO Capital Markets lifted their price target on Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a research note on Thursday, December 19th. Barclays reiterated an “equal weight” rating on shares of Blackstone in a research note on Friday, February 7th. Wells Fargo & Company cut their target price on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. StockNews.com cut shares of Blackstone from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Finally, TD Cowen raised shares of Blackstone from a “hold” rating to a “buy” rating and raised their target price for the stock from $149.00 to $230.00 in a report on Monday, December 9th. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $172.38.

Insider Buying and Selling

In related news, Director Ruth Porat bought 301 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were bought at an average cost of $164.85 per share, with a total value of $49,619.85. Following the completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.00% of the company’s stock.

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.