J.W. Cole Advisors Inc. Has $3.92 Million Stock Holdings in Blackstone Inc. (NYSE:BX)

J.W. Cole Advisors Inc. lessened its stake in shares of Blackstone Inc. (NYSE:BX) by 4.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 22,710 shares of the asset manager’s stock after selling 1,105 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in Blackstone were worth $3,916,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of BX. International Assets Investment Management LLC raised its position in shares of Blackstone by 15,357.3% in the 3rd quarter. International Assets Investment Management LLC now owns 4,201,150 shares of the asset manager’s stock valued at $6,433,220,000 after buying an additional 4,173,971 shares in the last quarter. Jennison Associates LLC grew its holdings in Blackstone by 111.1% during the 4th quarter. Jennison Associates LLC now owns 973,348 shares of the asset manager’s stock worth $167,825,000 after acquiring an additional 512,165 shares during the last quarter. Castleark Management LLC bought a new stake in Blackstone during the 3rd quarter worth approximately $67,472,000. State Street Corp grew its holdings in Blackstone by 1.2% during the 3rd quarter. State Street Corp now owns 30,020,426 shares of the asset manager’s stock worth $4,597,028,000 after acquiring an additional 348,751 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Blackstone by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 14,896,413 shares of the asset manager’s stock valued at $2,272,227,000 after purchasing an additional 336,308 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BX. JPMorgan Chase & Co. increased their target price on shares of Blackstone from $149.00 to $154.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Piper Sandler raised their price objective on shares of Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a research note on Monday, December 23rd. Deutsche Bank Aktiengesellschaft raised their price target 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. TD Cowen raised shares of Blackstone from a “hold” rating to a “buy” rating and raised their price target for the company from $149.00 to $230.00 in a research report on Monday, December 9th. Finally, UBS Group raised their price target on shares of Blackstone from $170.00 to $180.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Blackstone currently has a consensus rating of “Hold” and an average price target of $172.38.

Blackstone Stock Up 2.9 %

NYSE:BX opened at $165.09 on Monday. The firm’s 50-day moving average price is $176.09 and its 200-day moving average price is $164.44. The company has a market capitalization of $119.19 billion, a PE ratio of 45.48, a P/E/G ratio of 1.13 and a beta of 1.53. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71. Blackstone Inc. has a 1-year low of $115.82 and a 1-year high of $200.96.

Blackstone (NYSE:BX) last released 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 predict that Blackstone Inc. will post 5.88 EPS for the current fiscal year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Monday, February 10th will be paid a $1.44 dividend. This is a boost from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend is Monday, February 10th. This represents a $5.76 dividend on an annualized basis and a yield of 3.49%. Blackstone’s payout ratio 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.