Crewe Advisors LLC Sells 143 Shares of Blackstone Inc. (NYSE:BX)

Crewe Advisors LLC cut its holdings in shares of Blackstone Inc. (NYSE:BX) by 3.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,693 shares of the asset manager’s stock after selling 143 shares during the period. Crewe Advisors LLC’s holdings in Blackstone were worth $637,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. AQR Capital Management LLC boosted its position in Blackstone by 123.6% in the second quarter. AQR Capital Management LLC now owns 19,812 shares of the asset manager’s stock worth $2,453,000 after purchasing an additional 10,952 shares during the last quarter. Czech National Bank lifted its position in Blackstone by 7.7% during the third quarter. Czech National Bank now owns 146,687 shares of the asset manager’s stock valued at $22,462,000 after purchasing an additional 10,504 shares during the last quarter. Diversified Trust Co increased its position in Blackstone by 1.7% during the third quarter. Diversified Trust Co now owns 8,804 shares of the asset manager’s stock valued at $1,348,000 after acquiring an additional 143 shares during the last quarter. Kesler Norman & Wride LLC purchased a new stake in shares of Blackstone during the third quarter valued at $804,000. Finally, Trust Co of Kansas bought a new stake in Blackstone during the 3rd quarter valued at $214,000. Institutional investors own 70.00% of the company’s stock.

Blackstone Trading Up 2.4 %

NYSE BX opened at $174.99 on Thursday. The firm has a market capitalization of $126.34 billion, a price-to-earnings ratio of 48.21, a PEG ratio of 1.18 and a beta of 1.53. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67. Blackstone Inc. has a one year low of $115.82 and a one year high of $200.96. The company’s 50 day moving average price is $179.34 and its 200 day moving average price is $163.11.

Blackstone (NYSE:BX) last released its quarterly earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share 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%. On average, sell-side analysts predict that Blackstone Inc. will post 5.86 EPS for the current year.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Monday, February 10th will be given a $1.44 dividend. This represents a $5.76 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date of this dividend is Monday, February 10th. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s dividend payout ratio is currently 94.77%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on BX. Bank of America raised their target price on shares of Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Barclays reduced their price target on Blackstone from $192.00 to $186.00 and set an “equal weight” rating for the company in a research report on Friday, January 31st. Keefe, Bruyette & Woods increased their target price on Blackstone from $174.00 to $177.00 and gave the company a “market perform” rating in a research report on Friday, January 31st. Piper Sandler raised their target price on Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a research report on Monday, December 23rd. Finally, BMO Capital Markets raised their target price on Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a research note on Thursday, December 19th. Thirteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $172.38.

About Blackstone

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.