Jacobson & Schmitt Advisors LLC Has $13.24 Million Stake in Blackstone Inc. (NYSE:BX)

Jacobson & Schmitt Advisors LLC lowered its position in Blackstone Inc. (NYSE:BX) by 7.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 76,782 shares of the asset manager’s stock after selling 6,408 shares during the period. Blackstone accounts for 2.6% of Jacobson & Schmitt Advisors LLC’s portfolio, making the stock its 16th largest holding. Jacobson & Schmitt Advisors LLC’s holdings in Blackstone were worth $13,239,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Bangor Savings Bank increased its holdings in Blackstone by 187.5% in the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock worth $28,000 after buying an additional 105 shares during the last quarter. Hager Investment Management Services LLC acquired a new position in Blackstone during the fourth quarter valued at approximately $28,000. Roxbury Financial LLC acquired a new position in Blackstone during the fourth quarter valued at approximately $34,000. Berbice Capital Management LLC acquired a new position in Blackstone during the fourth quarter valued at approximately $34,000. Finally, Comprehensive Financial Planning Inc. PA bought a new stake in shares of Blackstone in the fourth quarter valued at approximately $34,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BX. UBS Group increased their price objective on Blackstone from $170.00 to $180.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Piper Sandler increased their price objective on Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a research report on Monday, December 23rd. BMO Capital Markets increased their price objective on Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a research report on Thursday, December 19th. Barclays reduced their price objective 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. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Thirteen analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $172.38.

Blackstone Stock Up 0.0 %

Shares of NYSE BX opened at $166.81 on Thursday. The firm’s 50-day simple moving average is $174.71 and its 200 day simple moving average is $165.04. The company has a market cap of $120.44 billion, a price-to-earnings ratio of 45.95, a price-to-earnings-growth ratio of 1.07 and a beta of 1.53. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. Blackstone Inc. has a 12-month low of $115.82 and a 12-month high of $200.96.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 earnings per share for the quarter, topping 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, research analysts expect that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were issued a dividend of $1.44 per share. This is a boost from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 annualized dividend and a yield of 3.45%. The ex-dividend date was Monday, February 10th. Blackstone’s payout ratio is currently 158.68%.

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.