Blackstone Inc. (NYSE:BX) Stake Trimmed by Argonautica Private Wealth Management Inc.

Argonautica Private Wealth Management Inc. cut its holdings in shares of Blackstone Inc. (NYSE:BX) by 0.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,322 shares of the asset manager’s stock after selling 172 shares during the quarter. Blackstone makes up approximately 2.0% of Argonautica Private Wealth Management Inc.’s portfolio, making the stock its 10th largest holding. Argonautica Private Wealth Management Inc.’s holdings in Blackstone were worth $6,263,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sather Financial Group Inc grew its stake in shares of Blackstone by 202.5% during the third quarter. Sather Financial Group Inc now owns 6,050 shares of the asset manager’s stock valued at $926,000 after buying an additional 4,050 shares during the last quarter. Portside Wealth Group LLC bought a new stake in shares of Blackstone in the 3rd quarter worth approximately $201,000. Aljian Capital Management LLC bought a new position in Blackstone in the 3rd quarter worth about $1,951,000. Icon Wealth Advisors LLC boosted its stake in Blackstone by 2,185.4% during the 3rd quarter. Icon Wealth Advisors LLC now owns 18,946 shares of the asset manager’s stock valued at $2,901,000 after purchasing an additional 18,117 shares during the last quarter. Finally, Wealthcare Capital Partners LLC bought a new position in Blackstone during the 4th quarter valued at about $2,102,000. Institutional investors own 70.00% of the company’s stock.

Blackstone Stock Up 0.1 %

Shares of NYSE:BX opened at $157.22 on Wednesday. The company has a market capitalization of $113.51 billion, a P/E ratio of 43.31, a P/E/G ratio of 1.07 and a beta of 1.53. Blackstone Inc. has a 52-week low of $115.82 and a 52-week high of $200.96. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. The stock’s fifty day simple moving average is $172.44 and its 200-day simple moving average is $166.12.

Blackstone (NYSE:BX) last announced its quarterly earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share for the quarter, beating 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%. As a group, equities research analysts forecast that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th were issued a dividend of $1.44 per share. The ex-dividend date was Monday, February 10th. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 annualized dividend and a dividend yield of 3.66%. Blackstone’s dividend payout ratio is 158.68%.

Analyst Ratings Changes

BX has been the subject of several recent research reports. Keefe, Bruyette & Woods boosted their target price on shares of Blackstone from $174.00 to $177.00 and gave the company a “market perform” rating in a research report on Friday, January 31st. Deutsche Bank Aktiengesellschaft boosted 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. Piper Sandler upped their price objective on Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a report on Monday, December 23rd. Wells Fargo & Company decreased their price objective on Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. Finally, UBS Group boosted their target price on 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’s stock. According to MarketBeat.com, Blackstone has a consensus rating of “Hold” and a consensus target price of $172.38.

Insiders Place Their Bets

In related news, Director Ruth Porat purchased 301 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were bought at an average price of $164.85 per share, with a total value of $49,619.85. Following the completion of the acquisition, the director now owns 36,829 shares of the company’s stock, valued at approximately $6,071,260.65. This represents a 0.82 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.00% of the stock is owned by corporate insiders.

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.