Opinicus Capital Inc. Sells 738 Shares of Blackstone Inc. (NYSE:BX)

Opinicus Capital Inc. lowered its stake in Blackstone Inc. (NYSE:BX) by 5.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,974 shares of the asset manager’s stock after selling 738 shares during the quarter. Blackstone accounts for 2.0% of Opinicus Capital Inc.’s portfolio, making the stock its 11th largest position. Opinicus Capital Inc.’s holdings in Blackstone were worth $2,409,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Joel Isaacson & Co. LLC raised its holdings in Blackstone by 14.7% during the fourth quarter. Joel Isaacson & Co. LLC now owns 19,084 shares of the asset manager’s stock valued at $3,290,000 after acquiring an additional 2,450 shares during the period. Shepherd Financial Partners LLC boosted its holdings in shares of Blackstone by 3.6% during the 4th quarter. Shepherd Financial Partners LLC now owns 30,770 shares of the asset manager’s stock valued at $5,305,000 after purchasing an additional 1,065 shares during the last quarter. Lecap Asset Management Ltd. bought a new stake in shares of Blackstone in the fourth quarter worth about $233,000. Golden State Wealth Management LLC purchased a new position in Blackstone during the 4th quarter valued at approximately $10,047,000. Finally, SMART Wealth LLC raised its position in Blackstone by 206.9% during the fourth quarter. SMART Wealth LLC now owns 4,296 shares of the asset manager’s stock valued at $741,000 after purchasing an additional 2,896 shares during the period. Institutional investors own 70.00% of the company’s stock.

Blackstone Stock Performance

Shares of NYSE:BX opened at $170.11 on Friday. The business’s 50 day moving average price is $178.78 and its 200-day moving average price is $163.28. 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 market capitalization of $122.82 billion, a PE ratio of 46.86, a P/E/G ratio of 1.18 and a beta of 1.53. Blackstone Inc. has a 1 year low of $115.82 and a 1 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 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%. As a group, equities research analysts expect that Blackstone Inc. will post 5.86 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Monday, February 10th will be issued a $1.44 dividend. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 annualized dividend and a yield of 3.39%. The ex-dividend date is Monday, February 10th. Blackstone’s payout ratio is 94.77%.

Analyst Ratings Changes

BX has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. BMO Capital Markets lifted their price target on shares of Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a research note on Thursday, December 19th. Piper Sandler raised their price objective on Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a report on Monday, December 23rd. Evercore ISI increased their price target on Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Finally, Citigroup boosted their target price on shares of Blackstone from $170.00 to $190.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $172.38.

Blackstone 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.