Blue Zone Wealth Advisors LLC Sells 570 Shares of Blackstone Inc. (NYSE:BX)

Blue Zone Wealth Advisors LLC decreased its stake in Blackstone Inc. (NYSE:BX) by 1.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 35,283 shares of the asset manager’s stock after selling 570 shares during the quarter. Blackstone comprises 1.8% of Blue Zone Wealth Advisors LLC’s portfolio, making the stock its 18th biggest holding. Blue Zone Wealth Advisors LLC’s holdings in Blackstone were worth $6,083,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Glen Eagle Advisors LLC increased its holdings in shares of Blackstone by 1.8% in the third quarter. Glen Eagle Advisors LLC now owns 3,251 shares of the asset manager’s stock valued at $498,000 after purchasing an additional 59 shares during the last quarter. Avidian Wealth Enterprises LLC increased its stake in Blackstone by 0.4% during the fourth quarter. Avidian Wealth Enterprises LLC now owns 16,184 shares of the asset manager’s stock worth $2,790,000 after acquiring an additional 59 shares during the last quarter. Investmark Advisory Group LLC increased its stake in Blackstone by 2.4% during the third quarter. Investmark Advisory Group LLC now owns 2,608 shares of the asset manager’s stock worth $399,000 after acquiring an additional 60 shares during the last quarter. Raleigh Capital Management Inc. increased 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 during the last quarter. Finally, Capital Advisors Ltd. LLC increased its stake in Blackstone by 2.3% during the third quarter. Capital Advisors Ltd. LLC now owns 2,787 shares of the asset manager’s stock worth $427,000 after acquiring an additional 62 shares during the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on BX shares. JPMorgan Chase & Co. raised their target price on Blackstone from $149.00 to $154.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Wells Fargo & Company lowered their price target on Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. Keefe, Bruyette & Woods raised their price target on Blackstone from $174.00 to $177.00 and gave the stock a “market perform” rating in a research report on Friday, January 31st. Piper Sandler raised their price target on Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a research report on Monday, December 23rd. Finally, Citigroup raised their price target on Blackstone from $170.00 to $190.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Thirteen research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Blackstone presently has an average rating of “Hold” and a consensus price target of $172.38.

Blackstone Stock Up 2.9 %

Blackstone stock opened at $165.09 on Friday. Blackstone Inc. has a 1-year low of $115.82 and a 1-year high of $200.96. 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 stock has a market cap of $119.19 billion, a PE ratio of 45.48, a P/E/G ratio of 1.13 and a beta of 1.53. The stock’s fifty day moving average is $176.09 and its two-hundred day moving average is $164.28.

Blackstone (NYSE:BX) last posted its earnings results on Thursday, January 30th. The asset manager reported $1.69 EPS for the quarter, topping 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%. On average, sell-side analysts expect that Blackstone Inc. will post 5.88 EPS for the current fiscal year.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th will be given a dividend of $1.44 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.49%. This is a boost from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s payout ratio is 94.77%.

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.