Walter & Keenan Wealth Management LLC IN ADV Has $1.78 Million Stake in Blackstone Inc. (NYSE:BX)

Walter & Keenan Wealth Management LLC IN ADV lowered its holdings in shares of Blackstone Inc. (NYSE:BX) by 8.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,326 shares of the asset manager’s stock after selling 987 shares during the period. Walter & Keenan Wealth Management LLC IN ADV’s holdings in Blackstone were worth $1,780,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Sather Financial Group Inc grew its position in Blackstone by 202.5% during the 3rd quarter. Sather Financial Group Inc now owns 6,050 shares of the asset manager’s stock worth $926,000 after acquiring an additional 4,050 shares during the last quarter. Portside Wealth Group LLC acquired a new stake in shares of Blackstone in the third quarter valued at $201,000. Aljian Capital Management LLC acquired a new position in Blackstone during the 3rd quarter worth about $1,951,000. Icon Wealth Advisors LLC increased its position in Blackstone by 2,185.4% in the 3rd quarter. Icon Wealth Advisors LLC now owns 18,946 shares of the asset manager’s stock valued at $2,901,000 after acquiring an additional 18,117 shares in the last quarter. Finally, Highland Capital Management LLC lifted its position in shares of Blackstone by 214.2% during the fourth quarter. Highland Capital Management LLC now owns 22,303 shares of the asset manager’s stock worth $3,845,000 after purchasing an additional 15,205 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on BX. StockNews.com cut Blackstone from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Deutsche Bank Aktiengesellschaft upped their target price on shares of Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a research report on Monday, November 11th. BMO Capital Markets increased their price target on shares of Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a research report on Thursday, December 19th. The Goldman Sachs Group upped their target price on shares of Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Finally, Bank of America boosted their price target on shares of Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a report on Friday, October 18th. Thirteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $172.38.

Blackstone Trading Down 2.5 %

Blackstone stock opened at $170.11 on Monday. 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 firm has a 50-day moving average of $178.36 and a 200-day moving average of $163.62. The company has a market cap of $122.82 billion, a price-to-earnings ratio of 46.86, a P/E/G ratio of 1.13 and a beta of 1.53. Blackstone Inc. has a one year low of $115.82 and a one year high of $200.96.

Blackstone (NYSE:BX) last issued its 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, equities analysts expect that Blackstone Inc. will post 5.88 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders 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 dividend yield of 3.39%. This is a boost from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date is Monday, February 10th. Blackstone’s dividend payout ratio (DPR) 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.