Summit Place Financial Advisors LLC Decreases Stock Holdings in Blackstone Inc. (NYSE:BX)

Summit Place Financial Advisors LLC lowered its position in Blackstone Inc. (NYSE:BX) by 8.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 22,636 shares of the asset manager’s stock after selling 2,030 shares during the quarter. Blackstone comprises approximately 2.2% of Summit Place Financial Advisors LLC’s portfolio, making the stock its 9th largest holding. Summit Place Financial Advisors LLC’s holdings in Blackstone were worth $3,903,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Sather Financial Group Inc grew its position in Blackstone by 202.5% in the third quarter. Sather Financial Group Inc now owns 6,050 shares of the asset manager’s stock worth $926,000 after acquiring an additional 4,050 shares in the last quarter. Portside Wealth Group LLC purchased a new stake in Blackstone during the third quarter valued at about $201,000. Aljian Capital Management LLC purchased a new stake in Blackstone during the third quarter valued at about $1,951,000. Icon Wealth Advisors LLC boosted its position in Blackstone by 2,185.4% during the third quarter. Icon Wealth Advisors LLC now owns 18,946 shares of the asset manager’s stock valued at $2,901,000 after buying an additional 18,117 shares during the period. Finally, Wealthcare Capital Partners LLC purchased a new stake in Blackstone during the fourth quarter valued at about $2,102,000. Institutional investors own 70.00% of the company’s stock.

Blackstone Trading Up 1.1 %

Shares of BX stock opened at $166.59 on Wednesday. Blackstone Inc. has a 12-month low of $115.82 and a 12-month high of $200.96. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. The firm’s 50 day moving average is $175.23 and its 200 day moving average is $165.03. The stock has a market capitalization of $120.28 billion, a P/E ratio of 45.89, a P/E/G ratio of 1.07 and a beta of 1.53.

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 net margin of 20.99% and a return on equity of 19.58%. Research analysts expect that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were issued a $1.44 dividend. This is an increase from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date of this dividend was Monday, February 10th. Blackstone’s payout ratio is currently 158.68%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on BX. Wells Fargo & Company cut their price target on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. BMO Capital Markets increased their target price on shares of Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a report on Thursday, December 19th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Citigroup increased 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. Finally, 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 report on Friday, January 31st. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $172.38.

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.