D.A. Davidson & CO. Sells 8,890 Shares of Blackstone Inc. (NYSE:BX)

D.A. Davidson & CO. lessened its holdings in shares of Blackstone Inc. (NYSE:BX) by 5.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 162,965 shares of the asset manager’s stock after selling 8,890 shares during the quarter. D.A. Davidson & CO.’s holdings in Blackstone were worth $28,099,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Sather Financial Group Inc grew its holdings in Blackstone by 202.5% during the 3rd quarter. Sather Financial Group Inc now owns 6,050 shares of the asset manager’s stock valued at $926,000 after buying an additional 4,050 shares in the last quarter. Portside Wealth Group LLC purchased a new stake in Blackstone in the 3rd quarter worth approximately $201,000. Aljian Capital Management LLC purchased a new position in shares of Blackstone during the 3rd quarter valued at $1,951,000. Icon Wealth Advisors LLC boosted its stake in Blackstone by 2,185.4% during the third quarter. Icon Wealth Advisors LLC now owns 18,946 shares of the asset manager’s stock valued at $2,901,000 after buying an additional 18,117 shares during the period. Finally, Wealthcare Capital Partners LLC purchased a new stake in shares of Blackstone in the 4th quarter valued at about $2,102,000. Institutional investors own 70.00% of the company’s stock.

Wall Street Analyst Weigh In

BX has been the topic of a number of recent analyst reports. Citigroup raised their target price on shares of Blackstone from $170.00 to $190.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Piper Sandler upped their target price on shares of Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a research report on Monday, December 23rd. TD Cowen raised Blackstone from a “hold” rating to a “buy” rating and lifted their price target for the stock from $149.00 to $230.00 in a research note on Monday, December 9th. StockNews.com lowered Blackstone from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Finally, UBS Group lifted their price target on shares of Blackstone from $170.00 to $180.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $172.38.

Blackstone Stock Up 2.9 %

Shares of Blackstone stock opened at $165.09 on Tuesday. The company’s fifty day simple moving average is $176.09 and its two-hundred day simple moving average is $164.60. Blackstone Inc. has a 12-month low of $115.82 and a 12-month high of $200.96. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. The company has a market cap of $119.19 billion, a P/E ratio of 45.48, a PEG ratio of 1.13 and a beta of 1.53.

Blackstone (NYSE:BX) last released its earnings results on Thursday, January 30th. The asset manager reported $1.69 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 anticipate that Blackstone Inc. will post 5.88 EPS for the current year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Monday, February 10th will be paid a dividend of $1.44 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $5.76 annualized dividend and a yield of 3.49%. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s payout ratio is presently 94.77%.

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.