JSF Financial LLC Lowers Stock Holdings in Blackstone Inc. (NYSE:BX)

JSF Financial LLC reduced its stake in Blackstone Inc. (NYSE:BX) by 17.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,560 shares of the asset manager’s stock after selling 324 shares during the period. JSF Financial LLC’s holdings in Blackstone were worth $269,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of BX. Bangor Savings Bank grew its holdings in shares of Blackstone by 187.5% during the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after buying an additional 105 shares during the last quarter. Hager Investment Management Services LLC bought a new stake in shares of Blackstone in the 4th quarter worth $28,000. Berbice Capital Management LLC bought a new position in shares of Blackstone during the fourth quarter valued at $34,000. Comprehensive Financial Planning Inc. PA bought a new stake in Blackstone in the 4th quarter worth about $34,000. Finally, Raleigh Capital Management Inc. lifted its stake in Blackstone by 32.1% during the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock valued at $39,000 after acquiring an additional 62 shares during the period. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Wall Street Analysts Forecast Growth

BX has been the subject of several analyst reports. Piper Sandler upped their price objective on Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a research note on Monday, December 23rd. StockNews.com downgraded Blackstone from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Keefe, Bruyette & Woods upped their price target on shares of Blackstone from $174.00 to $177.00 and gave the stock a “market perform” rating in a research report on Friday, January 31st. Evercore ISI upped their target price on shares of Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Finally, Cowen restated a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $172.38.

Blackstone Stock Performance

NYSE BX opened at $168.52 on Tuesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67. The business’s 50 day moving average price is $178.36 and its 200-day moving average price is $163.80. The company has a market cap of $121.67 billion, a P/E ratio of 46.42, a P/E/G ratio of 1.13 and a beta of 1.53. Blackstone Inc. has a fifty-two week low of $115.82 and a fifty-two week high of $200.96.

Blackstone (NYSE:BX) last issued its quarterly 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%. Sell-side analysts predict that Blackstone Inc. will post 5.88 earnings per share for the current year.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders 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 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 dividend yield of 3.42%. Blackstone’s dividend payout ratio (DPR) is 94.77%.

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.