Quadrant Private Wealth Management LLC Decreases Stock Holdings in Blackstone Inc. (NYSE:BX)

Quadrant Private Wealth Management LLC lowered its stake in shares of Blackstone Inc. (NYSE:BX) by 2.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 6,177 shares of the asset manager’s stock after selling 150 shares during the period. Quadrant Private Wealth Management LLC’s holdings in Blackstone were worth $1,065,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Bangor Savings Bank raised its position in shares of Blackstone by 187.5% in 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 acquired a new position in shares of Blackstone in the fourth quarter valued at approximately $28,000. Berbice Capital Management LLC acquired a new position in shares of Blackstone in the fourth quarter valued at approximately $34,000. Comprehensive Financial Planning Inc. PA acquired a new position in shares of Blackstone in the fourth quarter valued at approximately $34,000. Finally, Kieckhefer Group LLC acquired a new position in shares of Blackstone in the fourth quarter valued at approximately $39,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on BX. StockNews.com lowered shares of Blackstone from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Cowen reiterated a “hold” rating on shares of Blackstone in a research note on Friday, October 18th. Wells Fargo & Company decreased their price objective on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Finally, Barclays decreased their price objective on shares of Blackstone from $192.00 to $186.00 and set an “equal weight” rating for the company in a research note 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. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $172.38.

Blackstone Stock Up 2.9 %

Shares of NYSE:BX opened at $165.09 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67. Blackstone Inc. has a 1-year low of $115.82 and a 1-year high of $200.96. The company’s fifty day moving average is $176.53 and its two-hundred day moving average is $164.11. The stock has a market capitalization of $119.20 billion, a price-to-earnings ratio of 45.48, a price-to-earnings-growth ratio of 1.13 and a beta of 1.53.

Blackstone (NYSE:BX) last released its quarterly earnings data 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%. Equities analysts anticipate that Blackstone Inc. will post 5.88 EPS for the current year.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Investors 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 yield of 3.49%. The ex-dividend date is Monday, February 10th. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s dividend payout ratio is currently 158.68%.

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.