Glass Jacobson Investment Advisors llc Sells 149 Shares of Blackstone Inc. (NYSE:BX)

Glass Jacobson Investment Advisors llc lowered its stake in shares of Blackstone Inc. (NYSE:BX) by 4.4% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 3,258 shares of the asset manager’s stock after selling 149 shares during the period. Glass Jacobson Investment Advisors llc’s holdings in Blackstone were worth $562,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Bangor Savings Bank boosted its position 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 purchasing an additional 105 shares during the last quarter. Hager Investment Management Services LLC purchased a new position in shares of Blackstone in the fourth quarter worth approximately $28,000. Centricity Wealth Management LLC purchased a new stake in Blackstone during the fourth quarter valued at approximately $30,000. Murphy & Mullick Capital Management Corp purchased a new position in shares of Blackstone during the 4th quarter worth $33,000. Finally, Berbice Capital Management LLC purchased a new stake in shares of Blackstone in the 4th quarter worth $34,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Stock Performance

Shares of NYSE:BX opened at $127.19 on Friday. The firm has a fifty day simple moving average of $149.11 and a two-hundred day simple moving average of $165.63. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $92.77 billion, a P/E ratio of 35.04, a PEG ratio of 1.07 and a beta of 1.61. Blackstone Inc. has a 52 week low of $115.66 and a 52 week high of $200.96.

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, 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 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. Investors of record on Monday, February 10th were given a $1.44 dividend. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 dividend on an annualized basis and a yield of 4.53%. The ex-dividend date was Monday, February 10th. Blackstone’s dividend payout ratio is 158.68%.

Analyst Upgrades and Downgrades

BX has been the subject of a number of analyst reports. JPMorgan Chase & Co. upped their price target on Blackstone from $149.00 to $154.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Wells Fargo & Company decreased their target price on shares of Blackstone from $160.00 to $139.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Bank of America reduced their price objective on shares of Blackstone from $219.00 to $207.00 and set a “buy” rating for the company in a research note on Friday, April 4th. Citizens Jmp raised shares of Blackstone from a “market perform” rating to an “outperform” rating and set a $165.00 target price for the company in a report on Tuesday. Finally, TD Cowen dropped their price objective on Blackstone from $233.00 to $147.00 and set a “buy” rating for the company in a research note on Wednesday. Eleven research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $157.22.

Insider Activity at Blackstone

In related news, Director Ruth Porat purchased 301 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was purchased at an average price of $164.85 per share, with a total value of $49,619.85. Following the completion of the purchase, the director now owns 36,829 shares of the company’s stock, valued at approximately $6,071,260.65. The trade was a 0.82 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 1.00% of the stock is owned by company insiders.

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.