Seamount Financial Group Inc. Decreases Stake in Blackstone Inc. (NYSE:BX)

Seamount Financial Group Inc. reduced its position in shares of Blackstone Inc. (NYSE:BX) by 4.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,193 shares of the asset manager’s stock after selling 270 shares during the quarter. Seamount Financial Group Inc.’s holdings in Blackstone were worth $895,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Bangor Savings Bank boosted its stake in shares of Blackstone by 187.5% during the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 105 shares in the last quarter. Hager Investment Management Services LLC bought a new position in shares of Blackstone in the 4th quarter worth approximately $28,000. Berbice Capital Management LLC purchased a new stake in Blackstone in the fourth quarter worth $34,000. Raleigh Capital Management Inc. grew its position in shares of Blackstone by 32.1% in the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after buying an additional 62 shares during the period. Finally, Kieckhefer Group LLC purchased a new stake in Blackstone in the fourth quarter worth about $39,000. Institutional investors own 70.00% of the company’s stock.

Wall Street Analysts Forecast Growth

BX has been the topic of several recent research reports. Bank of America upped their price target on Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. The Goldman Sachs Group increased their price target on shares of Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, October 18th. BMO Capital Markets upped 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. Wells Fargo & Company lowered their price target on Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. Finally, Piper Sandler boosted their target price on Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a research report on Monday, December 23rd. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Blackstone currently has a consensus rating of “Hold” and an average target price of $172.38.

Blackstone Trading Down 2.5 %

Blackstone stock opened at $170.11 on Friday. The firm has a market capitalization of $122.82 billion, a price-to-earnings ratio of 46.86, a P/E/G ratio of 1.18 and a beta of 1.53. Blackstone Inc. has a 12-month low of $115.82 and a 12-month high of $200.96. The firm has a 50 day moving average of $178.78 and a 200 day moving average of $163.28. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61.

Blackstone (NYSE:BX) last issued its earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share (EPS) 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%. As a group, research analysts predict that Blackstone Inc. will post 5.86 earnings per share for the current year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th will be given a dividend of $1.44 per share. The ex-dividend date is Monday, February 10th. This represents a $5.76 annualized dividend and a yield of 3.39%. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s dividend payout ratio (DPR) is 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.